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Author: LS

India’s oil demand will enormously increase

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India’s oil demand growth is set to overtake China by mid-2020s, the International Energy Agency (IEA) claimed Today.

It is expected to reach 6 million barrels per day (bpd) by 2024 from 4.4 million bpd in 2017, but its domestic production is expected to rise only marginally, making it more reliant on crude imports and more vulnerable to supply disruption in the Middle East, the agency affirmed.

“We see India definitely as a key driver for oil demand growth,” IEA Executive Director Fatih Birol said, then added that the country’s oil demand growth may slow down slightly, in line with slowing global economic growth.

China’s demand growth is likely to be slightly lower than that of India by the mid-2020s, as per IEA estimation given in November, but the gap will slowly become bigger thereafter.

Al-Serraj Embarrasses Conte

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Italy scrambled to salvage diplomatic credibility yesterday after its bid to play a central role in resolving Libya’s long-running conflict came off the rails, revealing failures at the heart of the government.

In an embarrassing snub for Prime Minister Giuseppe Conte, Fayez al-Serraj refused to meet him after discovering that Khalifa Haftar was also invited to Rome.

“What happened yesterday was frankly embarrassing,” said Arturo Varvelli, director of the Rome office of the European Council on Foreign Relations think tank. He added that “Our politicians don’t pay enough attention to foreign policy and they are paying the price for it.”

“Conte really is dangerous and incompetent,” said far-right League leader Matteo Salvini, accusing the prime minister of making a simple error of protocol by receiving Haftar before first meeting Serraj.

Varvelli said Italy was suffering the consequences of inconsistent policy-making and poor political preparation. “Our political leaders are making blunders on the international stage,” he said, adding that Rome should stop trying to lead the way on Libya, and instead seek European consensus.

Libya: A deal over Gaddafi-era compensation

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 By February, Turkey plans to sign a preliminary 2.7 billion dollars compensation deal for work carried out in Libya before the 2011 civil war, a sector official said, seeking to revive stalled Turkish business operations in the conflict-ridden country.

Turkish business projects were disrupted by turmoil when rebels overthrew Muammar Gaddafi nine years ago, and hit again by ongoing fighting there.

Muzaffer Aksoy, chairman of the Turkish-Libyan Business Council, claimed that the deal will encompass a 1 billion dollars as a letter of guarantee, 500 million dollars in damage to machinery and equipment and unpaid debts of 1.2 billion dollars.

With current projects in Libya on hold due to fighting, the backlog of Turkish contract work in Libya amounts to 16 billion dollars, including 400-500 million dollars for projects which have not yet begun, Aksoy added.

He also announced that “New contracts were signed: projects like power stations, housing, business centres. However, since April, they have not been effected for security reasons,” Aksoy said. 

East Libya forces: the war goes on

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 East Libya based forces led by Khalifa Haftar announced that they will continue in their military campaign against rival forces in the capital Tripoli, appearing to reject a call by Russia and Turkey for a ceasefire.

A statement from Haftar’s LNA welcomed Russia’s bid “to seek peace and stability in Libya”, but affirmed “the continuation of the armed forces’ efforts in their war against terrorist groups in order to control the capital Tripoli”.

Franco-Libyan Energy Forum 2020

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Franco-Libyan Energy Forum 2020 will be held from 6-7 February in Paris, under the sponsorship of Libya’s state National Oil Corporation (NOC), Libya’s General Union of Chambers of Commerce, Industry and Agriculture, the MEDEF group of French companies, the Franco-Libyan Chamber of Commerce, with the participation of other oil, gas and energy institutions and experts.

During this Forum, many themes will be discussed such as the maintenance and quality improvement of reserves, the oil and gas industry in relation with information technology and digital innovation.

Libyan-Tunisian Borders should be secured

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The recent developments in Libya was under discussion in a meeting chaired by Caretaker Prime minster Youssef Chahhed.

During the meeting, Chahed emphasized the necessity of awareness towards potential menaces concerning the country’s borders with Libya. He also stressed the need to promote diplomatic and security plans in order to protect Tunisia’s interests.

Further the recent development in Libya: Jean-Yves Le Drian meets Kais Saied

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In an official visit to Tunisia, the French  Minister of Foreign Affairs Jean-Yves Le Drian met with the Tunisian president Kais Saied to discuss the recent development in Libya.

Le Drian mentioned that restoring stability to Libya should be within the framework of respecting the international rights, which is one of the most important points France shares with Tunisia.

He also confirmed that both states support the efforts of Ghassan Salame to unify the political process after Berlin conference that aims to solve the crisis.

Taher Al-Sunni discusses solutions to end the crisis in Libya

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Libya’s permanent representative to the United Nations, Taher Al-Sunni called on the Europeans to consolidate their position concerning ending the negative competition that deepened the crisis in Libya.

During his meeting with the head of the EU delegation to the United Nations, Olof Skoog, on Tuesday, Al-Sunni claimed that the silence on crimes against civilians can not go on, drawing attention that they are committed by direct support from several countries.

For his part, the EU official reaffirmed the EU’s position that there is no military solution for the Libyan crisis, they also showed their support for finding an international consensus to end the conflict and stop intervention in Libya.

Night curfew in Misurata

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Security Directorate declared a night curfew in Misurata until further notice in order to facilitate the work of security patrols.

In a statement, the directorate clarifiedt that the curfew will be imposed between midnight and 6 o’clock in the morning.

The decision comes on the background of the current conditions in the country and its endeavor to achieve the utmost security and safety for citizens.

The activation of the first phase of e-payments services

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Sharara Oil Services company, one of the five main petrol station operators in Libya, reported that it activated its first phase of using Tadawul Technology’s Tajer (merchant) debit/prepayment card for its petrol station owners. Tadawul is one of the Libya’s leading electronic payments solutions provider.

Sharara said that, starting from next week, petrol station owners will be able to use the card to pay for their fuel allowances from supplier Sharara.

The fuel suppler also that they are preparing to launch the second phase of its e-payments plan which will allow consumers to pay their fuel using their debit/prepayment cards.

To mention that Sharara and Tadawul signed a ‘‘strategic partnership agreement’’ in the beginning of last December in order to activate electronic payment services at Sharara’s Petrol Stations.

Tadawul explained that the other stages of the project will be implemented in the coming months, until they reach the use of the ‘‘latest refuelling technology in the world and apply it to stations all over the country’’.