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Author: LS

Libyan official: ”the incomes policy needs to be reconsidered”

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Idris Al-Sharif, Assistant Undersecretary at the GNA’s Ministry of Finance, confirmed, during a televised interview for Libyan WTV channel and Tabadul Platform that the incomes policy needs to be reconsidered.

“If there were rational policies and great strategies for the energy sector, we would have saved 3 billion dinars at least, which could have been used in granting Family allowances.” he said.

“The demands to cancel the subsidies are misguided.” He added, while excluding the ability to sell a liter of gasoline to the citizen at more than 3.60 dinars.

Al-Sharif emphasized that some depleted job categories from the National Congress, the House of Representatives and official authorities were able to issue decisions and approve salary scales. As a result, there was a clear disparity between officials who had the same competence.

Regarding the Sarir Field, Al-Sharif confirmed that billions were wasted 10 years, while they could have been fully saved.

He also denied the smuggling issue. However, he stressed the existence of chaos, explaining that the state’s proper administrative system requires the presence of an energy ministry that can be held accountable.

Libya:”Cases brought against the Ministry of Social Affairs because of Law 27″

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 The undersecretary of the Ministry of Social Affairs in the Government of National Accord, Mohsen Busnina, confirmed during a televised interview for Libyan WTV channel and Tabadul Platform that the total public debt regarding Law 27 that was passed in 2013 and related to activating the payment of the Wife and Child Allowance is estimated at 26 billion Libyan dinars, while indicating an increase of approximately 5 to 10 cases per day against the ministry about this law in order to demand these rights.

The under secretary said that the ministry disbursed a 10-month grant, starting from January 1 to the end October 2020, pointing out that in 2013, the grants had been disbursed to the children only, according to Law No.6, which was amended on October 23 2013.

Busnina added that the Ministry of Social Affairs has done its role regarding this law, prepared budgets and held discussions with the Ministry of Finance in this regard, confirming that there is a connection between the Civil Registry Authority, the ministry’s Information and Documentation Center, The Social security Fund, the Ministry of Labor and other official bodies. Busnina also confirmed that the ministry is discussing the payment mechanism with the Ministry of Finance,

Bousnina explained that Law 27 of 2013 includes 4 categories of entitlement, namely the children, males and females under the age of 18, which was set at a value of 100 dinars.

Those classified in the second category are given150 Libyan Dinars, this category included unemployed citizens and others who do not benefit from the allowance because of current Libyan legislations.

As far as the third category is concerned, it includes Libyan females married to foreigners. However, the fourth category includes Libyans over the age of 18, on condition of unemployment, and it is estimated at 100 Libyan Dinars.

Production of Libyan crude oil exceeds one million barrels a day

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The National Oil Corporation (NOC) announces that it managed to raise production rates to 1,036,035 barrels a day.

It is worth mentioning that the National Oil Corporation faces very big financial difficulties and a huge shortage of its budgets which led to accumulating debts on the sector’s companies and significant delay for the salaries of its service companies.

Libya: Interior Ministry condemns arrest of citizens arriving from eastern region

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The GNA’s Ministry of Interior expressed its condemnation in the strongest terms in regards to the arrest of citizens arriving from the eastern region at Tripoli’s Mitiga International Airport on Friday.

“These acts committed by a group of people to serve their personal interests, they do not represent the Government of National Accord and do not serve the public interest of the country.” The ministry said.

The statement indicated that the Minister of Interior issued instructions to the director of Tripoli’s security and the head of the Criminal Investigation Agency to investigate the incident and take legal measures against the armed group that carried out the act.

NOC deposits its oil revenues at the Libyan Foreign Bank

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An official source working within Libya’s National Oil Corporation (NOC) told Sada Economic Newspaper that the NOC deposits all oil revenues in its account at the Libyan Foreign Bank.

According to the source, oil revenues have not been deposited at the Central Bank since September, adding that oil revenues amounted to approximately 2.5 billion in the NOC’s account at the Libyan Foreign Bank.

US Ambassador says the Embassy to explore possible new property in Tripoli

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As the Libyan Political Dialogue Forum prepares to get underway in Tunis, Ambassador Norland spoke with Foreign Minister Siala on Friday to convey the U.S. Embassy’s intention to begin formal consultations with Libyan authorities on the lengthy process to secure property in Tripoli to facilitate long-term U.S. diplomatic engagements in Libya. 

  “Although we are a long way from actually being able to open an Embassy, the prospect of progress toward political stability affords the opportunity to begin to explore the procedural steps and bilateral negotiations required to set that process in motion,” Ambassador Norland said. 

NOC reports revenues for September and October 2020

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The National Oil Corporation reported that the total oil revenues for September of this year amounted to $ 116.9 million, registering a significant decline compared to the revenues for September of last year 2019, which amounted to $ 1.7 billion, as crude oil sales recorded $ 83.9 million.

It is noteworthy that the revenues for the month of September reflect sales of the month of August, in which the ports were suffering from forced closures. Whereas oil revenues recorded a slight increase during the month of October 2020, after the status of Force Majeure was lifted at the ports of Al-Hrega and Brega.

In which exports began from Thursday, September 24, and then at intervals to the rest of the oil fields and ports, during which the stored quantities were loaded, which explains record revenues during October (slightly exceeded that of September 2020, by about $ 113.3 million).

October’s revenue was 230.2 million US dollars, compared to 2 billion US dollars in October 2019, as the established crude oil sales recorded 179.9 million US dollars, 42.1 million US dollars from gas and condensate sales, and 8.1 million US dollars from product sales.

Oil economist: Libyan oil could take one year to hit pre-civil war level

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Mamdouh Salameh, an international oil economist and visiting professor of Energy Economics at ESCP Europe Business School, said in an exclusive interview with Anadolu Agency that Libya may be able to maintain its production at over half a million b/d until the end of the year if there is no disruption or a blockade of the major oilfields and pumping stations.

Salameh said Libya needs time to repair the damage inflicted on its oil infrastructure by the civil war and maintain its producing oilfields and pumping stations, many of which have been idle for more than six years.

Political risk and oil analyst Jose Chalhoub said this increase ultimately depends on the political stability and security risks as well as how these extra barrels and exports from Libya would be handled by the markets and the rest of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing nations, a group known as OPEC+.

According to Salameh, a revival of Libya’s oil production to 2011 levels of 1.6 million bpd will definitely impact the global oil market and exert pressure on oil prices. He predicted that it may even cause oil prices to slide by $2-$3 per barrel.

Chalhoub indicated that Libya’s extra production would have geopolitical connotations given that European markets, especially France, Italy, Spain and Germany are key markets for Russia and Libya.

Nearly 1,000 migrants intercepted and returned to Libya in 3 days

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Within three days, Libya’s coast guard intercepted 935 migrants in the Mediterranean and returned them to Libya, according to the International Organization for Migration (IOM).

From Sunday until Tuesday this week, a total of 935 migrants who tried to cross the Mediterranean Sea toward Europe from Libya were intercepted by Libya’s coast guard and returned to the north African country, located some 300 kilometers (185 miles) from the Italian coast.

On Sunday (November 1), the Libyan navy recovered 144 migrants in the Mediterranean. The next day, 413 people were intercepted and returned to Libya, according to IOM. And on Tuesday, the same happened to another 378.

Sabha International Airport expresses readiness to resume flights

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The Director of Sabha International Airport, Mohamed Ouhaida, announced on Thursday that the airport is ready to resume domestic flights.

Ouhaida explained at a press conference that flights to and from the airport are due to resume by early next week, adding that the airport authorities are awaiting the official Schedule approved by the Civil Aviation Authority.