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Author: LS

When oil became waste: a week of turmoil for crude, and more pain to come

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The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures, which had never dropped below $10 a barrel in its nearly 40-year history, plunged to a previously unthinkable minus $38 a barrel.

In just a few months, the coronavirus pandemic has destroyed so much fuel demand as billions of people curtail travel that it has done what financial crashes, recessions and wars had failed to ever do – leave the United States with so much oil there was nowhere to put it.

While the unusual circumstance of negative oil prices may not be repeated, many in the industry say it is a harbinger for more bleak days ahead, and that years of overinvestment will not correct in a period of weeks or even months.

“What happened in the futures contract the other day indicated things are starting to get bad earlier than expected,” said Frederick Lawrence, vice president of economics and international affairs at the Independent Petroleum Association of America.

“People are getting notices from pipeline companies that say they can’t take their crude anymore. That means you’re shutting down the well yesterday.”

Evidence of the erosion of value for a product that has been a mainstay of global society since the late 19th century abounded across the world last week.

Basmat Shabab organization provides support in view of the current circumstances in Libya

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The charitable organization Basmat Al-Shabab for Development and Voluntary Work from Zliten has announced the launch of its Ramadan campaign for the current year, under the slogan “Iftar with Basmat is different”.

The charity called on people to practice compassion and kindness in this holy month and support their campaign so that it can reach well its target to around 3,500 migrants inside the city.

The campaign provides food baskets and Iftar meals to support migrant workers and their families during Ramadan.

Maltese arms dealer charged with violating Libya sanctions

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A Maltese arms dealer has been charged with breaching EU sanctions on Libya.  

James Fenech, 41, allegedly used two military-grade Rigid Hull Inflatable Boats (RHIBs) to circumvent international sanctions and transport private contractors out of war-torn Libya without notifying the authorities.  

A mysterious Malta-registered boat found in the harbour or Zwetina, Libya, some 150 kilometres south of Benghazi, last August had raised suspicion that it was being used to sneak people in and out of the country, prompting the Libyan authorities to launch an investigation.

At the time, Libyan news sites had wrongly reported that the boat belonged to the Armed Forces of Malta, while some sections of the Libya press had speculated that it could have been used to ferry special forces or intelligence teams into the region. 

On Friday afternoon, five Maltese men, Fenech and four men, aged 63, 47, 45 and 44, believed to have manned that vessel and another identical to it, were all charged in court in Valletta with sanctions busting.  

According to the prosecution, Fenech had entered into a contractual agreement with a United Arab Emirates company to shuttle personnel in and out of Libya. This was allegedly done without authorisation from the relevant authorities.   

In a statement on Saturday, police superintendent George Cremona, responsible for the counter terrorism unit, said the investigation was also looking into possible money laundering. 

An attachment order on financial information has been requested, as well as letters rogatory sent to overseas jurisdictions.  

A request to freeze assets linked to Fenech has also been issued and accepted by the courts, the police said. 

Source: Times of Malta daily newspaper.

Libya: blackouts continue across different regions

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The General Electricity Company of Libya (GECOL) lost feed to a line connected to the Janzour Power Plant and another in the Krimiya district, due to the careless setting of a fire on Friday evening. Hence, the destruction was as a result of unknown individuals setting fire to rubbish, which was piled up close to power lines near the building of Al-Nujailia, causing damage to five high voltage columns, which resulted in blackouts in parts of that area.

Al-Asalah Health Center in Darj reopens after maintenance work

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On Thursday April 23, 2020 a handover ceremony opened the Assalah Health Centre in the municipality of Derj after the completion of maintenance and renovation works.

This was another NOC sustainable development programme for areas adjacent to its operations.  Works on this project started at the end of December 2019.

The first phase of the project included renovation of the entire building, modernisation of the electricity grid, replacement doors and windows, covering walls and floors with medical insulation, new suspended ceilings, new air conditioning and lighting, the installation of a medical gas network and other refurbishments.  

The second phase included equipping the women’s examination clinic, maternity delivery rooms, intensive care rooms, the medical analysis laboratory, the new-born room, the hospitalization room, the pharmacy, the reception and an information area.  

“We hope this project will contribute to alleviating the suffering of citizens and spare them the trouble of traveling long distances for medical services,” said Mr Mukhtar Abdedayem, head of NOC’s Sustainable Development Department.    

PCR machine reaches the laboratory of Libya’s NCDC

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The machine for Polymerase Chain Reaction testing, known as PCR, has reached the laboratory of Libya’s National Centre for Disease Control in Misrata (NCDC).

Yesterday, the Coronavirus Control Committee in Misrata provided the NCDC with a PCR that will be used for detection of the coronavirus.

It should be mentioned that the Coronavirus Control Committee in Misrata was formed by Misrata Chamber of Commerce, Industry and Agriculture.

The Committee’s terms of reference provided that it collects the donations of the city’s businessmen, which could be channelled to support hospitals, isolation centres, as well as centres for the early detection.

In a statement to “Tabadul”, the Head of Coronavirus Control Committee in Misrata, Hussein Al-Mejri, said that the committee paid the value of the PCR machine through transferring the funds via the black market, which is about 780,000 LYD, while the PCR machine (along with its accessory) costs 125 thousand euros.

Libya extends the ban on civil aviation for a further 15 days

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In a letter to the Minister of Transport Milad Maatuq, the Head of the Presidential Council Fayez Al-Sarraj claimed an extension of the ban on civil aviation at all Libyan airports, for a further 15 days, adding that the decision is to take effect from Saturday, April 25, as another measure in tackling the dreaded Coronavirus pandemic.

Al-Sarraj pointed out that certain individuals and groups were excluded from the ban, namely, wounded or critically ill individuals requiring urgent medical treatment abroad, essential official government delegations and commercial cargo flights.

Second phase of Coronavirus tests for Libyans stranded in Tunisia to kick off next Monday

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Libya consulate in Sfax, Tunisia, declared that it will start the second phase of quarantine for the stranded Libyans in Sfax city and in the south of Tunisia at a hotel in Zarzis region, on Monday, 27 April.

The consulate called on those who have a vehicle to head for the hotel in order to complete the quarantine period as well as their Coronavirus tests.

However, as far as those who do not have a vehicle are concerned, the consulate allocated gathering points in different regions of the Tunisian south such as Sfax, Medinine and Gabes .

It will be reminded that the high committee to combat Coronavirus in Libya has set April 20 as the start of medical tests for Libyans stranded in Tunisia, Turkey and Egypt ahead of a flight back home. The Committee stressed that the stranded Libyans will be kept at hotels for 14 days after the tests’ results come out, if negative, then returned home after a second medical test, said Deputy Minister of Interior and the member of the committee Khalid Mazin.


‘No time to blame the messenger’ warns UN rights chief, amidst media clampdowns surrounding COVID-19

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The coronavirus pandemic has spawned new threats to press freedom in some countries, according to the UN human rights chief, who declared on Friday that “credible, accurate reporting is a lifeline for all of us”

Against the backdrop of restrictive measures against independent media imposed by several States, as well as the arrest and intimidation of journalists, UN High Commissioner for Human Rights, Michelle Bachelet, expressed alarm over clampdowns that are stifling the free flow information, vital in getting the COVID-19 under control.

“Some States have used the outbreak of the new coronavirus as a pretext to restrict information and stifle criticism”, she said. “A free media is always essential, but we have never depended on it more than we do during this pandemic, when so many people are isolated and fearing for their health and livelihoods”.