Skip to main content

Author: LS

Libya’s NOC transfers $5.8 bn of frozen funds to the new government

Written by LS on . Posted in News. No Comments on Libya’s NOC transfers $5.8 bn of frozen funds to the new government

Libya’s NOC says it has transferred $5.8bn of previously frozen funds to the new government, but political wrangling is still holding up the 2021 budget.

According to the Weekly Middle East Oil and Gas News and Analysis, Libya’s new Government of National Unity (GNU) has been boosted with a $5.8bn cash injection from National Oil Corporation (NOC) which appears to have lifted its freeze on transferring oil revenues.

As part of the tacit deal which helped end last year’s devastating oil blockades, NOC was withholding oil and gas revenues until a new unity government was formed and a “fair” revenue distribution mechanism reached 

The deal led to the partial restart of Libya’s oil sector outlined -among other economic reforms- the creation of a committee “to oversee oil revenues and ensure their fair distribution over the next three months.”

Ministry of Finance Transfers March and April Salaries

Written by LS on . Posted in News. No Comments on Ministry of Finance Transfers March and April Salaries

The Libyan Prime Minister, Abdulhamid Dbaiba, said on Twitter that the Ministry of Finance has forwarded on Thursday permission to the Central Bank of Libya (CBL) for payment of salaries for the months of April and March.


Dbaiba stressed that the government will be committed to paying the salaries of the coming months on time and will not allow any delay.

Minister of Industry and Minerals visits the Libyan Iron and Steel Company

Written by LS on . Posted in News. No Comments on Minister of Industry and Minerals visits the Libyan Iron and Steel Company

The Minister of Industry and Minerals, Ahmed Omar, paid a visit to the Libyan Iron and Steel Company in Misrata on Tuesday.

Ahmed Omar met with the company’s board of directors to discuss several issues, the most important of which is the energy aspect represented in electricity and natural gas.

The meeting focused on the procedures for maintaining the power and desalination plant of the company.

Libya: International Olives, Dates and Honey Exhibition kicks off

Written by LS on . Posted in News. No Comments on Libya: International Olives, Dates and Honey Exhibition kicks off

The Libyan Economy and Trade Minister opened the International Olives and Dates Exhibition and Honey Festival at the Tripoli International Fair, and welcomed the participation over 100 participating entities, 17 of which are from Tunisia, urging for developing the local production industry through signing partnerships with countries that are considered pioneers in such fields.

Minister Mohammed Al-Huweij reiterated the importance of national industry and products as well as finding them overseas markets by showcasing them in international exhibitions, adding that Libya has the potential to access international markets and compete in a number of industrial categories.

Najla Al-Mangoush discusses bilateral relations with Tunisian President

Written by LS on . Posted in News. No Comments on Najla Al-Mangoush discusses bilateral relations with Tunisian President

On Wednesday, Tunisian President Kais Saied received the Minister of Foreign Affairs of the Libyan Government of National Unity (GNU), Najla Al-Mangoush.

They discussed bilateral relations, and the distinguished partnership between Tunisia and Libya, as well as the prospects for their development and diversification.

Al-Mangoush pointed out that she was keen to make Tunisia her first foreign destination visit since assuming her duties, “as a message of gratitude to Tunisia for its positive and honourable role during the Libyan crisis.”

Saied confirmed that “the firm will of the two countries to meet the current challenges will enable all obstacles to be overcome.” He pointed out that “the fate of Tunisia and Libya is one, and their goals are the same.”

The President called for strengthening cooperation according to non-traditional visions, perceptions, and mechanisms. As well as establishing “strategic partnership formulas with new thinking and high hopes for a better future for the two brotherly peoples.”

Abu Dhabi Crown Prince discusses economic relations with new Libya prime minister

Written by LS on . Posted in News. No Comments on Abu Dhabi Crown Prince discusses economic relations with new Libya prime minister

Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed met new Libyan prime minister Abdulhamid Dbeibeh in the United Arab Emirates and discussed opportunities for developing economic relations.

The visit is Dbeibeh’s first visit to the gulf country after Libya’s government was sworn in on March 15 with the task of unifying the country after years of violence and division.

Sheikh Mohammed Bin Zayed said in a Twitter post that “Libya will overcome its challenges and we stand at the side of the Libyan people at this critical moment. The new road map will hopefully lead to stability and unity”. 

Abdul Hamid Dbaiba visits Kuwait

Written by LS on . Posted in News. No Comments on Abdul Hamid Dbaiba visits Kuwait

Kuwait’s Emir Sheikh Nawaf Al-Ahmad Al-Sabah met with Libyan Prime Minister Abdul Hamid Dbaiba.

Mohamed Hammouda, a spokesman for the Libyan National Unity Government, said on Facebook that Dbeibeh’s visit to Kuwait “comes within as part of the prime minister’s efforts to unify the Gulf position regarding the Libyan file, and to strengthen the relationship with all Gulf states on the basis of mutual respect”.

The Arabian Gulf Oil Company rejects Mohamed Aoun’s order

Written by LS on . Posted in News. No Comments on The Arabian Gulf Oil Company rejects Mohamed Aoun’s order

 The Minister of Oil and Gas, Mohamed Aoun, ordered on Tuesday to stop the establishment of an oil clinic in the city of Benghazi, after the National oil Corporation’s approval to implement the project.

However, the Arabian Gulf Oil Company said in a statement that it rejects the decision of the Minister and called on the NOC’s chairman, Mustafa Sanalla, to intervene.

Al-Bouri: ” liquidity is highly available in the western region of Libya”

Written by LS on . Posted in News. No Comments on Al-Bouri: ” liquidity is highly available in the western region of Libya”

The Libyan banker, Noman Al-Bouri, confirmed during “Flusna”, a television programme broadcasted on WTV channel and Tabadul Platform, that there is no liquidity crisis in the western region of the country, adding that it is availabe in abundance there.

However, according to him, the liquidity crsis will be highly intensified in the eastern region if the clearing system was not resolved.

Al-Bouri said that the overall liquidity in the banks of the western region exceeds 1 billion dinars, adding: ” If some bank branches in the western region do not have liquidity, it is because of the mismanagement of cash distribution.”