Skip to main content

Author: LS

The debts of Arabian Gulf Oil Company exceeded one billion dinars

Written by LS on . Posted in News. No Comments on The debts of Arabian Gulf Oil Company exceeded one billion dinars

The Chairman of the Management Committee of the Arabian Gulf Oil Company, Salah Al-Qatrani, said that the debts of the company’s obligations exceeded 1 billion dinars, as a result of the failure to adopt budgets and sufficient funds for operation, production, maintenance and development of the fields.

He added that the company’s critical financial situation « crossed all the red lines, blurred all its activities and actions, affected its credibility and dealings with others, and failed to comply with its obligations ».

This took place during the meeting of the General Assembly of the Arabian Gulf Oil Company, chaired by the engineer Mustafa Sanalla, in the presence of the members of the Oil Corporation: Abu Qasim Shenqir, Muhammad Amari, Jadallah Al-Awakli, Salah Al-Qatrani, Chairman of the Management Committee of the company, and the members of the Management Committee of the company, Abubakar Ben Amer, Faraj Ahtiba, Faraj Al-Mashay, Abdulmottaleb Adam.

– Oil Company: Liquefied 28 million dinars for seismic scanning

– Mustafa Sanalla discusses with Al-Qatrani the “difficult” financial conditions of the Arabian Gulf Oil Company

-The Arabian Gulf Oil announces its inability to continue its activities due to the accumulation of debts.

The meeting reviewed the company’s annual activity and contract area 91 during 2021, its targets and proposed 2022 budget, and plans and programmes prepared by the company; The aim is to increase production rates and oil and gas reserves, according to a statement published by the Oil Corporation Facebook page.

Achievements of the Arabian Gulf Oil Company during 2021

In his speech, Al Qatarani also outlined a number of the company’s achievements in spite of the difficulties, including nine reservoir and laboratory studies, which resulted in the drilling of several development wells, which increased the company’s daily production rate of oil, with about 91 million oil produced on an average daily production of 273,000 barrels. The company’s production exceeded 300,000 barrels in some periods of the year, but he realized that electricity problems and the shortage of spare parts did not enable the company to maintain these rates..

He declared that85 wells had been placed on production and several maintenance and engineering projects had been completed. The project for the exploitation of Masala and Sarir gas fields had reached 94 per cent, as well as the development of some discovered fields, the development of financial and administrative systems and the readiness to start using smart field techniques.

Mustafa Sanalla sets a bundle of recommendations

In his speech, National Oil Corporation President Mustafa Moulalla put forward a bunch of recommendations, highlighting the need to develop a comprehensive plan and strategic planning for the company in terms of reserves, productive reserves, production, increasing production rates, ensuring that the company’s targets are achieved for the current year, and examining all options for gas development from Hamada to fill the projected gas deficit for domestic consumption and maintain Libya’s share in the global gas market.

Development of a strategic planning department

He also recommended the creation of a Department of Strategic Planning and Business Development, which would arrange opportunities and develop optimal development and research strategies for funding them, as well as rely on technology to establish a control system for all operations in various fields in order to ensure accurate monitoring of a mechanism.

He urged the Gulf Company Management Committee to cooperate with national companies such as Jowfe Oil technologyand NOFCAT and to conduct a debt certification to ensure timely payment of invoices. He also explained that, with the new Oil Law in force, the working mechanism required the Company’s management to identify integrated expenditure reports and deliver them at a specified time to the management of the enterprise, in order to avoid the existence of suspensions that prevented timely closing budgets.

He also noted the importance of the Gulf Company’s addressing the study of non-traditional fields, the establishment of a department to conduct reservoir studies and settle them, as well as the development of solutions that would help to end the company’s electricity problem.

Taken from National Oil Corporation Facebook Page

The distortions of the Libyan economy that need to be treated departing from 2022

Written by LS on . Posted in News. No Comments on The distortions of the Libyan economy that need to be treated departing from 2022

The economic and banking expert Musbah Al-Akkari stated that there are several distortions in the Libyan economy that need real processing this year 2022 and the coming years.

Al-Akkari explained that the most significant distortions in the Libyan economy that need to be addressed are the issue of support and the need to gradually upgrade it, the consolidation of the administration of the Central Bank of Libya, the periodic review of the exchange rate, the consolidation of the control devices, in particular the Office of Accounting and the Administrative Control Authority, as well as the total dependence on oil as a single source of income for the country and the need to correct this by creating other sources of income, in addition to addressing the subject of salaries and the size of its payments for about 2.8 million employees and the need to accelerate the issuance of a consolidated schedule.

Other things needed to be addressed, including the shadow economy, which represents about 60 per cent of the economy’s size: “companies and shops without a license,” as well as the unproductive culture of society, reliance on the illusion of the “rich State,” the State’s restriction on the private sector, while it must be supported to drive the economy forward through bank loans, tax and customs exemptions and the State’s renunciation of many economic activities in favor of the private sector.

Waha Oil Company compensates for oil losses within two days

Written by LS on . Posted in News. No Comments on Waha Oil Company compensates for oil losses within two days

The New York-based Forex website reported that maintenance work on the main crude transmission line at Waha Oil Company has been completed.


According to the American Website, the work was completed ahead of schedule within two days instead of a week, which contributed to reducing the losses resulting from the production interruption estimated at about one million barrels, and an increase in Waha Oil Company’s production by 200 thousand barrels per day.


Adapted from Sada Website

Dbeiba: These are only the first steps in the project of returning life to Libya

Written by LS on . Posted in News. No Comments on Dbeiba: These are only the first steps in the project of returning life to Libya

The Prime Minister of the National Unity Government, Abdul Hamid Dbeibah, announced on his personal Facebook page that the second phase of maintaining the Ain Zara -Wadi al-Rabee road has been completed, and it will be opened next week.


He added that the project is under the supervision of the Transportation Projects Authority, and a joint implementation by the Public Works Company and the Tunisian Works Company.


He hoped that it would contribute to alleviating the overcrowding that was worrying the residents of the region, and assured that these are only the first steps in the project of returning life to Libya.


Adapted from Sada Website

Dbeibah’s decisions to help getting married must not be supported in a corrupted country

Written by LS on . Posted in News. No Comments on Dbeibah’s decisions to help getting married must not be supported in a corrupted country

The British “Middle East Monitor” magazine published on Friday, that providing loans to help citizens marry should not take place until after a serious study and discussions between experts and in countries suffering from declining population, for example, which is not the case today in Libya. It added that these loans should not be disbursed in countries where corruption is out of control and accountability.

Ali Al-Hadi, a professor of family law at the University of Zawia, said that such policies must be discussed to achieve the correct results with a minimum of negative consequences. Their implementation should not be sudden without any legal procedures.

Economic expert Saleh Ammar said that it is a waste of public money at a time when the majority of Libyans are facing economic difficulties, in addition to being discriminatory because it only benefits those wishing to marry.

The magazine stressed the refusal of several parties to continue granting money for marriage while students do not have textbook. The Libyan Women for Peace Forum which is a civil women’s organization that struggles to include women in peacemaking, concluded that the policy of financing marriage is neither urgent nor ethical. The organization added that this policy is unwise and bribery of votes and aims to help Dbeibah expand his public support in the presidential elections, noting that it has so far forced hundreds of underage girls to marry for money only. It explained that others were forced into such marriages by their families in order to obtain aid to cover their expenses and as a result, dozens of divorce cases are already before the courts at a time when the high school teacher from Tarhuna and the father of 6 children, Ali Abdeljalil, expressed his rejection of this policy.

Abdeljalil pointed out that food prices rose by 40% after the overthrow of the former Qadhdhafi regime, whose reign saw bread subsidies by 60% to help people feed their children, while the years 2011 and after have witnessed the end of government support due to widespread corruption and economic mismanagement. He added that corruption has become a league that is joined by officials in education, public services and the police up to the level of minister, which led waste of public funds, embezzlement and mismanagement over the years have drained the government treasury of funds that can be used to continue support policies during the era of the late Colonel Qadhdhafi.

Adapted from Sada Website

Khalid Mahjoub accuses Dbeibah of refusing the disbursement of the salaries of the armed forces.

Written by LS on . Posted in News. No Comments on Khalid Mahjoub accuses Dbeibah of refusing the disbursement of the salaries of the armed forces.

The director of counseling of the armed forces in the eastern region, Major General Khalid Mahjoub, accused the Head of National Unity Abdul Hamid Dbeibeh to stand behind the disbursement of the salaries of the armed forces of the east.

He said that, despite the intervention and addressing the assembly of representatives and the military commission 5 + 5, “Dbeibeh” and for the fourth month respectively, has been procrastinating and preventing the payment of the armed forces salaries saying that there is no balance covering the issued cheque  in particular, although the government spent more than 90 Billion dinars within a few months, including an amount of 20 billion to the development of “corruption”, as Mahjoub said.

He added that this government, instead of performing its duties to achieve the will of Libyans for the elections, the national reconciliation and the consolidation of institutions; its head prevent salaries waited by about half a million Libyan citizens, which their parents or children have engaged in the Libyan army to protect their homeland and secure the source of Libyans and struggle for sovereignty.

“Mahjoub” pointed out that the army command has found itself having to borrow to provide minimum requirements for its soldiers, which is the daily supply to those who are in guard and protection sites in oil fields, at the borders, in the desert, in pursuit of terrorism and smugglers and of the various places they protect and secure, accusing the head of government of becoming a starving tool for Libyans who are waiting for their salaries to feed their children.

The arrival of 100 million dinars as a liquidity shipment to reach 570 million dinars totally

Written by LS on . Posted in غير مصنف. No Comments on The arrival of 100 million dinars as a liquidity shipment to reach 570 million dinars totally

The liquidity team of the Central Bank of Libya confirmed to “Tabadul TV” the arrival of a liquidity shipment this Friday morning to the International Airport in Benghazi, dedicated to branches of the Jumhouria Bank, with a value of 100 million Dinars. 

According to the team, the total shipments sent to bank branches in the eastern region within one week reached 570 million dinars for branches of Jumhouria Bank, National Commercial Bank and Wahda Bank.

The Ministry of Finance reveals the government expenditures during 2021

Written by LS on . Posted in News. No Comments on The Ministry of Finance reveals the government expenditures during 2021

The Ministry of Finance of the National Unity Government published on its official Facebook page a general summary about the government expendiures and oil and sovereign revenues during 2021.


It explained the items and types of expenditures in the first and second tables followed by all the legislative and executive government bodies and their subsequent ministries and organisms.


It also included an explanatory statement from the Treasury Department’s implementation of emergency expenditures made through 34 named entities along with the amounts spent.


In section three about development, the figures show that allocations amounted to a total of 17.390.149.814 billion dinars, divided among sector projects, the General Electricity Company, the National Oil Corporation and, finally, postgraduate studies and missions.


In the last tables, the explanation for government expenditure was in section four of the budget related to support, which charged the State with an allocation of 20.830.325.734 billion dinars, in addition to the total of oil and sovereign revenues which has reached over 105 billion dinars.

Adapted from Sada Website.

Wafa Al-Kilani explains the reasons for not having disbursing yet the allowance for wives and over-18 girls.

Written by LS on . Posted in News. No Comments on Wafa Al-Kilani explains the reasons for not having disbursing yet the allowance for wives and over-18 girls.

The Minister of Social Affairs of the National Unity Government, Wafa Al-Kilani, said that the ministry is working hard to complete the infrastructure for the paying the allowance of wives and over-18 girls, after the Ministry’s successful disbursement of all children’s allowances under the age of 18 for the year 2021.

She explained that the under-18 children’s allowance was the closest category to disbursment. By the end of 2021, the ministry had been able to complete the payment of children’s allowances for all months of the year to all eligible persons. The allowances of the remaining categories which are women and girls over the age of 18, were not ready to be disbursed by the infrastructure database.

Wafa El-Kilani confirmed that the ministry has been working for months to process the database infrastructure for the categories of women and above-18 girls in order to find out who does not get a state salary and so,  is entitled to the allowance.

This requires the cooperation of all parties, including the Ministry of Finance, the Ministry of Labour, the Ministry of Higher Education, the Civil Registry and the Department of Passports and Nationality.

The minister of Social Affairs pointed out that the ministry officials are working hard to achieve the second phase of the project and to complete setting the allowances of the wives and over-18 girls, without defining a date for its payment , which had so far been delayed by almost 10 months without being disbursed to the beneficiaries. It  had indicated that last year it had disbursed 4 billion and 255 million dinars to cover the children’s grant under the age of 18 for all quarters of 2021, out of the Government’s estimated value of 4 billion and 412 million dinars for that purpose.

Mustafa Sanalla addresses the president of the Accounting Office about the refusal of tax authority to registrate contracts signed by oil with foreign companies and holds him responsible for the effects.

Written by LS on . Posted in News. No Comments on Mustafa Sanalla addresses the president of the Accounting Office about the refusal of tax authority to registrate contracts signed by oil with foreign companies and holds him responsible for the effects.

The Chairman of the National Oil Corporation, Mustafa Sanalla, wrote a letter to the President of the Accounting Office stating in it: “According to your statement, a number of operating companies of the National Oil Corporation recently notified us that the tax authority had refused to register contracts with foreign companies, justifying this rejection by a circular issued by the Agent of the Accounting Office requesting them to not ratify any contracts concluded by the Government, its interests and bodies and institutions when they were worth 500,000,000 dinars or more, only after confirming the consent of the Accounting Office.”

He continued: “Although these companies continue with the authority and inform them that the circular as drafted does not include companies, the Opinion section of the Law Department in accordance with its advisory opinion of 2020/7/15 (as attached), in which article 6 From the implementing regulation of Act No. 6 on the Administration of Law, binds all parties to exclude contracts entered into by pre-monitoring companies, she responded by believing that contracts entered into by operators should not be subject to prior monitoring. But it is obliged, under the warning of the Accounting Office, to execute its instructions to not register contracts entered into by operators until it is confirmed that the approval of the Accounting Office is attached.”

Sanalla added that the Office stated that it did not recognize the opinion of the General Administration of Law and was not obliged to implement it. This position by the Accounting Office confounded the institution and its companies that relied on the opinion of the General Administration of Law and signed several contracts for the implementation of projects to increase production, maintain or develop surface equipment with international and local contractors, which included numerous mutual obligations Under which these companies will be required to compensate these contractors for all losses that may result from the failure to complete these contracts or the delay in their implementation, given that the subject of prior approval is an obligation that was not taken into account when requesting bids from these companies.

The delay in the implementation of these projects will result in asking these contractors to amend the prices offered by them and perhaps disassociate themselves from these contracts and demand compensation for the damages they incurred as a result of the termination of these contracts according to Sanalla.

Sanalla also said throughout his correspondence: “As the Accounting Office insisted on ignoring the opinion of the Law Department and its threat to the Tax Authority to not register contracts concluded by companies operating in the oil sector, so that we couldn’t understand its goals and dimensions. Therefore, the institution, in light of this intransigence, which we see as violating the law, declares that it is not responsible for the consequences that may result from the Bureau’s insistence on prior oversight and its disrespect for the opinion of the General Administration of Law in this regard to those contracts.”