Skip to main content

Author: LS

Oil prices pull back

Written by LS on . Posted in News. No Comments on Oil prices pull back

Oil prices pulled back Wednesday, with benchmark Brent turning negative as U.S. crude inventories surged the most on record, but the pullback was muted by hopes that a meeting between OPEC and allied producers on Thursday will trigger output cuts.

U.S. crude inventories rose 15.2 million barrels in the week, the most on record, as refiners slashed runs and the storage hub at Cushing filled more quickly than expected, the U.S. Energy Information Administration said in a weekly report on Wednesday

Brent crude LCOc1 was down 11 cents, or 0.3%, at $31.76 by 15:06 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 rose 63 cents to $24.26 a barrel, after earlier trading as high as $25.29 a barrel.

Despite the split, the benchmarks were supported by expectations that production cuts from OPEC may lie ahead.

Equities climb on hopes pandemic is peaking

Written by LS on . Posted in News. No Comments on Equities climb on hopes pandemic is peaking

World equity markets moved higher and oil prices stabilized on Wednesday on hopes the coronavirus pandemic is peaking and that more government stimulus measures could be on the way.

In midday trading on Wall Street, the Dow Jones Industrial Average rose 496.11 points, or 2.19%, to 23,149.97, the S&P 500 gained 54.38 points, or 2.04%, to 2,713.79 and the Nasdaq Composite added 139.12 points, or 1.76%, to 8,026.38.

Gains in the U.S. helped bolster other world markets after euro zone finance ministers failed to agree during all-night talks on more support for their coronavirus-hit economies. Eurogroup chairman Mario Centeno said on Wednesday he was suspending the discussions until Thursday.

GECOL: Power network recovered

Written by LS on . Posted in News. No Comments on GECOL: Power network recovered

In a statement published on Facebook, the General Electricity Company of Libya (GECOL) said that its maintenance teams have completed repairing 5 power units in 3 power plants; Ubari Power Plant , the first, the second as well as the fourth power units in Al Ruwais Power Plant, and the sixth power unit in Al-Zawia Power Plant.

It should be reminded that after yesterday’s total blackout in Libya’s western and southern regions, the General Electricity Company reported the total blackout in both regions was out of the blue, adding that its teams started working on regaining power in the two affected regions.

Libya: financial rewards for medical staff providing treatment for Covid-19 patients

Written by LS on . Posted in News. No Comments on Libya: financial rewards for medical staff providing treatment for Covid-19 patients

In a statement issued by the Minister of Health, Ehmid Bin Omar announced financial rewards for the staff providing treatment and care for Covid-19 patients in Libya. The reward includes medical and medical ancillary personnel.

The statement clarified that the medical component’s reward would be 10.000 LYD per month, while the medical ancillary personnel would be granted 8.000 LYD.

Professionals who provide other services in quarantine and medical check-up facilities approved by the authorities would be granted 6000 LYD per month.

East Libya Extends Curfew

Written by LS on . Posted in News. No Comments on East Libya Extends Curfew

Today, the Libyan Ministry of Interior issued the Resolution No. 407 for the year 2020 regarding the continuation of the provisions related to the curfew, until next April 15, in an attempt to curb the spread of coronavirus.

It should be reminded that the curfew starts at 3:00 p.m. and ends at 7 a.m. Moreover, it prevents the use of public transportation between cities, in addition to locking border crossings and sea and air ports, with regard to movement of persons

The resolution stipulated that the above-mentioned decisions should continue to be enforced, except for authorities and persons whose businesses require navigation during curfew times.


Ministry of Economy: Libya’s wheat flour stock

Written by LS on . Posted in News. No Comments on Ministry of Economy: Libya’s wheat flour stock

Yesterday, the Chairman of the Commercial Department at the Ministry of Economy, Mustafa Qadara, saidthat the current stock of wheat flour in factories is sufficient for three months.

During a TV statement, Qadara said that if credits open, wheat supplies will flow naturally and this would guarantee vast quantities of stock.

He also added that the imposed curfew affected the factories that used to be working around the clock before the coronavirus epidemic, noting that the Ministry of Economy will consider this matter.

NOC provides medical equipment to help confront coronavirus

Written by LS on . Posted in News. No Comments on NOC provides medical equipment to help confront coronavirus

The Sustainable Development Department of the National Oil Corporation (NOC) has procured medical equipment and devices needed to deal with the coronavirus, in coordination with the Austrian company OMV.

The equipment, which was received on Tuesday, April 7, 2020, included face masks, medical protective gowns, thermometers, disinfectants and other medical items. NOC will distribute these across Libyan municipalities depending on their needs.

Mr Mukhtar Abdedayem, Head of NOC Sustainable Development Department said, “In order to support the health sector and enhance its ability to deal with this virus, we are taking new medical devices, clothing and materials to where it is most needed. I have listened to the best advice from medical experts which is why we have chosen these items. Hundreds, possibly thousands of Libyan lives will be saved through this initiative. We have more materials coming, and I am talking to mayors across Libya to organise the distribution.”

In a statement, the National Oil Corporation stated that it would like to thank all its international partners who have helped Libya in this time of need.

Libya: two new Coronavirus cases and a second case of recovery

Written by LS on . Posted in News. No Comments on Libya: two new Coronavirus cases and a second case of recovery

Libya’s  National Centre for Disease Control (NCDC) announced two new Coronavirus cases in Libya, including the first in Benghazi, who – according to eastern officials- was a 55 year-old who had returned from Turkey via Tunisia 21 days ago.

Yesterday, the National Centre for Disease Control stated that it had received a total of 26 samples yesterday, with 25 proving negative. While in  Benghazi, 3 samples were received at Kwafia hospital, and two proved negative. 

The NCDC also claimed that Libya’s second infected patient -announced on 28 March- had made a full recovery. 

In a statement, it explained that “the analyses of the samples of the recovered patient yielded a negative result and the CT scan result also showed respiratory safety.”

This brings the total recovered cases to two , and the total of infected cases to 21.


Eastern Libya confirms first coronavirus case

Written by LS on . Posted in News. No Comments on Eastern Libya confirms first coronavirus case

Today, the authorities running eastern Libya confirmed a first case of the coronavirus despite efforts to close borders and impose a curfew to limit social interactions.

Libya has confirmed a total of 20 cases of the new coronavirus, with the others in the western areas controlled by the internationally recognised Government of National Accord (GNA).

The United Nations and aid agencies have urged Libya’s warring factions to stop fighting, but the conflict has increased in the past two weeks and projectiles hit a hospital in a GNA-held area of Tripoli on Monday.

Presidency Council discusses measures to confront Covid-19

Written by LS on . Posted in News. No Comments on Presidency Council discusses measures to confront Covid-19

In a meeting held yesterday with the participation of the Anti-Coronavirus Supreme Committee, the Chairman of the Presidency Council (PC), Fayez Al-Sarraj discussed the preparedness of the government’s bodies and the measures put in place to confront the pandemic.

During the meeting, officials debated the precautionary, remedial and preventive measures at all levels and in particular in the health sector, in addition to reviewing the supplies available, including laboratory diagnostic devices, ventilators, protective personal equipment, as well as isolation sites and quarantine in various regions.