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Oil revenues in Libya reach record levels

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The National Oil Corporation (NOC) declares that its net revenues in April 2021, obtained from the sales of crude oil, gas, condensates and petrochemical by-products have reached record levels, as the crude oil sales amounted to 1,246,925,644.12 U.S. dollars, followed by the gas and condensates sales which amounted to 53,973,431.64 U.S. dollars, while the petrochemical by-products sales revenues amounted to 2,616,168.58 U.S. dollars and 6,221,424.18 Euros, i.e. the total revenues from oil sales is 1,303,515,244.34 U.S. dollars and 6,221,424.18 Euros.

It should be noticed that the crude oil deliveries to the Ubari Power Station are charged to the General Company of Electricity, which were estimated during April by 19,898,933.18 U.S. dollars. Mellitah Co. has also been supplied with crude oil for electricity generation purposes, which value amounted to 1,276,933.50 U.S. dollars to be settled later.

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Italy, Libya will collaborate on energy projects

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Italy and Libya will work together on illegal immigration and renewable energies, Prime Minister Mario Draghi and Libyan Prime Minister Abdul Hamid Dbeibah told reporters during a joint press conference after meeting on Monday.

Libya is a “large-scale energy partner” of Italy in terms of fossil fuels “but we also want to start cooperation in the field of renewable energies,” the Italian leader said.

Draghi said the two leaders also discussed “humanitarian and migration issues, the fight against human traffickers, refugee aid, humanitarian corridors, and the development of rural communities.”

For his part, the Libyan prime minister expressed his satisfaction at the “excellent bilateral relations” between the two countries, which are “reinforced by mutual goodwill.”

“We will tackle illegal immigration together, along with other European countries, and the countries of origin of the illegal immigrants,” the Libyan prime minister said.

“The immigration problem cannot be solved in the Mediterranean alone, but should be tackled by going to the roots of the problem, which is not just a Libyan or Italian responsibility, but a common one,” he said.

Dbeibah said Libya wishes to “increase trade relations with Italy and to work on renewable energies as well as the reconstruction of Libya.”

“Italy could play an essential and primary role as an investor in Libya,” he said.

Libya-Algeria border reopens

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The Libyan Foreign Minister, Najla Al-Mangoush, agreed with her Algerian counterpart, Sabri Boukadoum, on reopening Debdeb-Ghadames border between the two countries.

Al-Mangoush said the Algerian government had agreed to reopen the border and soon open another office in Libya to facilitate cooperation, hailing the swift response by Algeria to the needs of the Libyan people at this stage.

The Prime Minister Abdul-Hamid Dbeibah and a Government of National Unity delegation arrived Saturday in Algeria for discussing joint cooperation and boosting bilateral relations, according to the government’s media office.

Dbaiba to attend Italian Economic Conference

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The Italian Foreign Ministry stated that it will conduct an economic conference titled “the new Libya presents itself to Italian businesses,” to coincide with Libyan Prime Minister Abdelhamid Dbaiba’s expected visit to Rome on Monday, according to the Libyan Express.

Dbaiba and Italian Foreign Minister Luigi Di Maio will speak at the conference, which is being organized by Italian Foreign Ministry Undersecretary Manlio Di Stefano.

It will be remindede that Di Maio visited Tripoli with a European Union group, where he expressed the EU’s readiness to engage with a “new Libya” in a variety of areas, emphasizing the new Libya’s support for restoring stability and economic development within a stable political framework.

Dbaiba meets Algerian President Abdelmadjid Tebboune

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The Libyan Prime Minister, Abdelhamid Dbaiba, arrived on Saturday in Algeria to meet Algerian President Abdelmadjid Tebboune.

 Tebboune confirmed during the meeting Sonatrach’s readiness to develop eminent relations with its Libyan partner, in order to lay the foundations for a mutually successful economic partnership and to develop the petroleum and gas industry in both countries.

Meanwhile, the Libyan-Algerian Economic Forum was inaugurated on Saturday, in the Algerian capital. Libya’s Economy Minister, Mohamed Al-Hawij, the Algerian Ministers of Trade and Foreign Affairs, and the Libyan Businessmen Council all participated in the Forum.

The Forum’s activities will last for three days, including bilateral meetings between Libyan and Algerian companies and workshops, in addition to the participation of the Libyan Business Owners Council in the Sefax Trade Fair.

U.S. considering reopening its Embassy in Tripoli

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The Biden administration is looking at reopening the U.S. Embassy in Tripoli, which has been closed since 2014, two years after the Benghazi attack.

The United States is wading back into Libya, with the Biden administration launching a fresh diplomatic bid to pull the country out of a violent spiral and making plans to reopen the U.S. Embassy in Tripoli seven years after it was closed, according to the NBC News.

Last week, the highest-ranking U.S. diplomat to visit the country since 2014 arrived in Tripoli, and the administration has deployed a team there to work out the daunting logistics of reopening the embassy, two sources familiar with the matter said.

Asked about the future of the embassy in Tripoli, the State Department declined to comment about when the mission might open its doors again.

GECOL Forms Committees To Study Contracting With Egyptian Companies

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Leaked documents obtained by Sada Economic Newspaper reveal that the board of directors of the General Electricity Company of Libya (GECOL) adopted a series of resolutions which envisage forming numerous committees in order to study offers proposed by Egyptian private companies.

 The resolutions state the necessity of establishing a committee that monitors Orascom, another committee that monitors Rowad, and a committee that monitors Hassan Allam.

The board of directors also decided to form a committee tasked with evaluating the submissions of the above-mentioned companies and providing a full report in this regard.

NOC and its companies participating in the Libya Energy Renaissance Forum

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NOC Chairman, Mustafa Sanalla and Schlumberger President and CEO, Olivier Le Peuch, participated in the Libya Renaissance held in Turkey Istanbul, during three days.

In his statement, Sanalla pointed out the importance of the joint programs being implemented to improve the production, and Schlumberger’s efforts in implementing the latest technology to improve production and to resume production from long term shut in wells, as well as the establishment of a training center in Benghazi to develop manpower skills.

The latest technologies used for enhancing production from oil reservoirs were presented in the forum, especially the technologies used for the optimum reservoir management with the go’s oil practice. The forum also presented the latest techniques used for the re-entry of wells and improving their productivity, through horizontal and slanted drilling. The attendees made significant interactions.

Part of the Forum was specified to the technologies available to Schlumberger regarding the surface facilities integrity assessment and improvement and rehabilitation of damaged fields.

Khalid Shakshak, Mohamed Aoun discuss closing NOC’s accounts

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On Tuesday, Head of the Libyan Audit Bureau, Khalid Shakshak and the Minister of Oil and Gas, Mohamed Aoun met to discuss the closing of the National Oil Corporation’s (NOC) accounts.

During the meeting, Shakshak and Aoun discussed the development of disclosure and transparency systems, and followed up the procedures for assigning an international institution to audit the NOC’s accounts.

According to the Audit Bureau, the meeting dealt with activating and establishing governance systems in the oil sector, by having the ministry “hold annual meetings for the sector’s companies.” This is set to “achieve the principle of effective accountability, which is one of the most important foundations of governance. This will only come through financial statements prepared according to the highest level of standards.”

The statement added that the meeting reviewed some important issues affecting the sector’s activity, taking the necessary measures to address them, and agreeing to periodically follow up on the progress.

Khaled Al Mishri says sovereign positions can be selected one month earlier

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During his televised interview for Libyan WTV channel and Tabadul Platform, the head of Libya’s High Council of State, Khaled Al Mishri, said that sovereign positions could be selected at least one month in advance if Libya’s parliament (the House of Representatives – HoR) and the High Council of State cooperate together .

During the interview, Al Mishri has shown respect to the the House of Representatives as elected body, while urging to gather and convene a deal.

Al Mishri pointed out that the two bodies agreed to reopen candidacy registration process for the sovereign posts, while ensuring transparency in reaching a consensus on the names.