Skip to main content

Author: LS

UK gets Libya’s oil, 11 years after toppling Gaddafi

Written by LS on . Posted in News. No Comments on UK gets Libya’s oil, 11 years after toppling Gaddafi

British oil giants BP and Shell are returning to the oil-rich north African country just over a decade after the UK plunged it into chaos in its 2011 military intervention, which the British government never admitted was a war for oil.

British officials have long sought to profit from oil in Libya, which contains 48 billion barrels of reserves – the largest oil resources in Africa, accounting for 3% of the world total.

BP is one of the few foreign oil and gas companies with exploration and production licenses in Libya. Its assets there were nationalized by Muammar Gaddafi soon after he seized power in a 1969 coup that challenged the entire British position in the country and region.

After years of tensions between the two countries, prime minister Tony Blair met Gaddafi in 2004 and agreed the so-called ‘Deal in the Desert’ which included a $900m exploration and production agreement between BP and Libya’s NOC.

BP re-entered the country in 2007 but its operations were scuppered by the war of 2011 when British, French and US forces with the support of Qatar and Islamic militants overthrew Gaddafi. 

Terrorism and civil war subsequently engulfed the country and oil company operations were put on hold.

The restart of BP’s operations follows the signing in 2018 of a memorandum of understanding with the NOC and Eni, the Italian oil major, to resume exploration, with Eni acting as the operator of the oil fields. BP chief executive Bob Dudley hailed the deal as an important step “towards returning to our work in Libya”.

The BP-ENI project, an $8bn investment, involves two exploration areas in the onshore Ghadames basin and one in the offshore Sirte basin, covering a total area of around 54,000 km2. The Sirte basin concession alone covers an area larger than the size of Belgium.

The UK’s other oil major, Shell, is also “preparing to return as a major player” in Libya, the company has stated in a confidential document. After putting its Libyan operations on hold in 2012, the corporation is now planning to explore for new oil and gas fields in several blocks.

A third British company, Petrofac – which provides engineering services to oil operations – secured a $100m contract in September last year to help develop an oil field known as Erawin in Libya’s deep southwest. 

Petrofac was at the time under investigation for bribery by the UK’s Serious Fraud Office (SFO). 

One of its executives, global head of sales David Lufkin, had already pleaded guilty in 2019 to 11 counts of bribery. 

Frank Baker, then the ambassador to Libya, wrote in 2018 that the UK was “helping to create a more permissible environment for trade and investment, and to uncover opportunities for British expertise to help Libya’s reconstruction”.

Since then, new ambassador Hurndall has held meetings with Libya’s oil minister, Mohammed Aoun, to discuss the return of UK oil companies to Libya, and the NOC has set up a hub in London, its only one outside Libya and the US.

The NOC’s London unit, launched in early 2021, is poised to “award consultancy and asset management contracts worth hundreds of millions of pounds over the next several years to British companies”, the Times reported.

The UK is combining its interest in accessing Libya’s oil with increasing military involvement. The 2011 war did not stop the UK pursuing its oil interests. During the early months of the uprising against Gaddafi, British oil trading company Vitol provided rebels with refined petrol in exchange for future delivery of crude oil, thus sustaining their military activities. 

Once again, UK oil interests look set to be accompanied by a resurgence in the British military presence in Libya. In September this year the UK’s senior military official in the Middle East, Air Marshal Martin Sampson, discussed military training programmes with Libyan prime minister Abdul Hamid Dbeibah.

The meeting followed the docking in Tripoli of UK Royal Navy warship HMS Albion, for the first time in eight years. Around a hundred Libyan and foreign dignitaries were hosted aboard Albion, including “senior Libyan political, military, and civil society figures”, the Royal Navy said.

Adapted from DeclassifiedUK

Shakshak agrees with the President of the Tunisian Court of Accounts to prepare a memorandum of understanding for cooperation between the two authorities

Written by LS on . Posted in News. No Comments on Shakshak agrees with the President of the Tunisian Court of Accounts to prepare a memorandum of understanding for cooperation between the two authorities

The head of the Audit Bureau, Khaled Shakshak, discussed today, Thursday, at the headquarters of the Court of Accounts in the Republic of Tunisia, during a meeting with the head of the court, Najib Al-Katari, the possibility of benefiting from the competencies of the two agencies in research projects, oversight activities, and the employment of mutual experiences in the field of training, information exchange, preparation of work guides and support oversight work in its various fields.

In the meeting, the two parties discussed providing consultations, holding seminars and conferences on contemporary professional issues, and supporting technical teams and Libyan audit committees in the Tunisian arena with consultations, information and necessary work guides, which would increase the effectiveness of oversight tasks over Libyan institutions in the State of Tunisia.

It was agreed to prepare a joint memorandum of understanding between the two agencies, including what was discussed during the meeting.

The meeting was attended by the Director of the General Administration of Control over the Sovereign Sector, the Director of the General Administration of Control of the Service Sector, the Director of the General Administration of Contract Control, and a number of officials at the Tunisian Court of Accounts.

Al-Kabeer: “The prevailing political and economic conditions make it difficult for the Central Bank to reconsider the exchange rate”

Written by LS on . Posted in News. No Comments on Al-Kabeer: “The prevailing political and economic conditions make it difficult for the Central Bank to reconsider the exchange rate”

The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, said today, Thursday, that Libya’s production of crude oil must be at least 1.4 million barrels per day if we want to transform the Libyan economy.

Al-Kabeer stressed that the Central Bank supports the government’s efforts to increase production in solidarity with the international community and to fill the shortage in energy supplies resulting from the Russian-Ukrainian war.

He added that the National Oil Corporation received about $1.7 billion this year for unspecified development projects, noting that increasing oil income will allow Libya to expand development and infrastructure projects, stimulate the private sector and diversify the economy and sources of income.

The Governor of the Central Bank of Libya revealed that the current Libyan public debt is unchanged at about 155 billion dinars, pointing out that there are some Libyans calling for policies to strengthen the dinar against the US dollar and reduce import prices, as the prevailing political and economic conditions make it difficult for the Central Bank to reconsider the exchange rate, especially in light of threats to stop oil production and export.

Libya chairs the 14th session of the Arab Ministerial Water Council for the first time from the headquarters of the General Secretariat of the League of Arab States

Written by LS on . Posted in News. No Comments on Libya chairs the 14th session of the Arab Ministerial Water Council for the first time from the headquarters of the General Secretariat of the League of Arab States

The State of Libya chaired for the first time from the headquarters of the General Secretariat of the League of Arab States, today, Wednesday, during a meeting that was held under the chairmanship of the Minister of Water Resources of the Government of National Unity, Tareq Abu Fleeqa, for the 14th session of the Arab Ministerial Water Council, which was received from the State of Lebanon.

During the Council’s new session, 26 topics were discussed dealing with various aspects of joint Arab action with regard to water, and the agenda included an item on the practices of the Israeli occupation authority in stealing Arab water in the occupied Syrian Golan, southern Lebanon and the occupied Palestinian territories, as well as ways to develop the water sector in Palestine and support Iraq’s rights regarding the preservation of water resources in the Tigris and Euphrates basins.

The meeting also discussed the possibility of the participation of some Arab companies specialized in reclamation work and the implementation of dams and hydraulic facilities in water projects in Arab countries with available energy, in addition to the Arab preparation for the 10th World Water Forum in Indonesia for the year 2023, Arab cooperation in the exploitation of shared water resources, and the regional initiative for interconnection between energy sectors. Water and food in the Arab countries and their activities.

Abu Fleeqa continued the implementation of the executive plan for the water security strategy in the Arab region to meet the challenges and future requirements of sustainable development, in addition to the 2030 sustainable development with regard to water.

Dbeibeh agrees with Bouden on the opening of the new gates at the Ras Ajdir crossing and the return of Tunisian companies to invest in Libya

Written by LS on . Posted in News. No Comments on Dbeibeh agrees with Bouden on the opening of the new gates at the Ras Ajdir crossing and the return of Tunisian companies to invest in Libya

The Prime Minister of National Unity, Abdul Hamid Dbeibeh, agreed today, Wednesday, during the joint press conference with his counterpart, the Tunisian Prime Minister, Najla Bouden, to open the new gates at the Ras Ajdir crossing, to begin the inauguration of the sea line, and for the return of Tunisian construction companies and establishments to invest in Libya.

Dbeibeh and Bouden emphasized opening opportunities for cooperation in the health and trade fields, lifting restrictions on imported goods between the two countries, and accelerating the pace of cooperation in order to facilitate citizens’ procedures between the two countries.

Dbeibeh discussed his theory during the meeting at the Tunisian government palace ways of joint security cooperation in the field of training, increasing flights, linking airports and preparing the Ras Ajdir crossing.

During his speech at the meeting, Dbeibeh stressed the endeavor to convene the joint Libyan-Tunisian Supreme Committee soon in Tripoli to assess what was agreed upon between the two sides, in addition to following up on financial debt issues and how to pay them, to strengthen the agreement in the field of arbitration cases and review all provisions between the two justice ministers.

The Central Bank Research and Statistics Department publishes its quarterly report on the most important financial data and indicators for commercial banks for the year 2022

Written by LS on . Posted in News. No Comments on The Central Bank Research and Statistics Department publishes its quarterly report on the most important financial data and indicators for commercial banks for the year 2022

Today, Tuesday, the Research and Statistics Department of the Central Bank of Libya published its quarterly report on the most important financial data and indicators for commercial banks for the third quarter of this year 2022, as the total assets of commercial banks, excluding regular accounts, increased from 142.4 billion dinars at the end of the third quarter 2021 to about 144.0 billion dinars in The end of the third quarter of the current year 2022, which means a growth rate of 1.1%, and the liquid assets amounting to 93.4 billion dinars accounted for 64.8% of the total assets.

The report published by the Research Department stated that the total deposits of commercial banks under the request and certificates of deposit with the Central Bank, including the mandatory reserve, decreased from about 83.2 billion dinars at the end of the third quarter of 2021 to about 79.9 billion dinars at the end of the third quarter of this year, which means a rate of 4.0 %, and the total balance of loans and facilities granted by commercial banks increased from 18.2 billion dinars at the end of last year, to 21.6 billion dinars at the end of this year, that represents a growth rate of 18.8%, and loans and credit facilities granted accounted for 22.0 percent of the total deposit liabilities, and accounted for 15.0% of the total assets.

According to the research department’s report on total customer deposits with commercial banks 2012, the third spring of 2022, the total property rights in commercial banks increased from 7.3 billion dinars at the end of the third quarter 2021 to 8.7 billion dinars at the end of the third quarter 2022, at a rate of 19.1%. As the profits of these banks decreased before deducting provisions and taxes during the first nine months of this year, by 28.8 million dinars, or an average of 3.0%, to reach 940.1 million dinars compared to what they were last year, which recorded about 968.8 million dinars.

As the number of banks operating in Libya reached 20, including the Libyan Dinar unit of the Libyan Foreign Bank until the end of the third quarter of this year, these banks operate through 580 branches and banking agencies.

Dbeibeh is following up with Shakshak the government’s procedures regarding the establishment of new schools

Written by LS on . Posted in News. No Comments on Dbeibeh is following up with Shakshak the government’s procedures regarding the establishment of new schools

Today, Tuesday, the head of the national unity government, Abdul Hamid Dbeibeh, followed up, during a meeting with the head of the Audit Bureau, Khaled Shakshak, the government’s procedures regarding the establishment of new schools, and the role of the Audit Bureau in ensuring effective procedures for the implementation of the project due to its importance.

Dbeibeh confirmed that the Ministry of Education and the Agency for the Development of Administrative Centers completed the identification of sites according to the need, the ownership of the targeted lands, the technical specifications of the approved models, and the continuous follow-up of the procedures, due to the importance of this file that all Libyan regions suffer from.

For his part, Shakshak confirmed that the Audit Bureau will be an essential supporter in order to provide a suitable environment for our students, in light of our country’s need to build new schools and eliminate shantytowns and dilapidated schools, explaining that he will assign a special technical committee to ensure speedy completion.

The meeting was attended by the Director of the Sovereign Sector Department in the Audit Bureau, Ridha Qarqab, the Director of the Legal Department, Youssef Ghaith, and the Minister of State for Cabinet Affairs, Adel Jumaa.

Office of the Attorney General: “The German Institution of Expertise confirms the presence of potassium bromate in the manufacture of bread and flour in Libya”

Written by LS on . Posted in News. No Comments on Office of the Attorney General: “The German Institution of Expertise confirms the presence of potassium bromate in the manufacture of bread and flour in Libya”

Today, Monday, the Office of the Attorney General revealed that the German Institution of Expertise, to which samples of wheat and flour used in the manufacture of bread and pastries were sent, confirmed the use of the banned substance “potassium bromate” in the manufacture of flour and bread in Libya in unsafe proportions by those in charge of this industry.

The Public Prosecution carried out 600 samples of wheat, flour, and other materials used in the manufacture of bread and pastries, and the Public Prosecution requested a qualitative and quantitative analysis of the samples in order to find out the addition of the potassium bromate compound included in the Harmonized System for Classifying and Classifying Goods.

The Public Prosecutor, Seddiq  Al-Sour, directed to initiate investigation procedures against those who are outside the system of legislation aimed at the safety of what is offered from food, and to take measures to oblige the employer to ensure the procedures of medical examinations and examinations for workers, to ensure their health safety and that they are free from infectious diseases.

Al-Sour stressed that the legal requirements must be met for foreign workers to enter the country, reside and work, including confirmation of the extent to which employers observe labor and social security legislation.

Mohamed Karim: “The Water and Sanitation Company appeals to the Government of National Unity to support the company”

Written by LS on . Posted in News. No Comments on Mohamed Karim: “The Water and Sanitation Company appeals to the Government of National Unity to support the company”

The Director of the Office of Information and Awareness and the official spokesperson for the General Company for Water and Sanitation, Mohamed Karim, said in a special statement to our source today, Monday, that the Water and Sanitation Company appeals to the National Unity Government for support and to keep pace with the company in neighboring countries, because the company needs help.

Mohamed Karim explained that the water has been sucked out of the rapids and most of the roads from all areas, and it is lacking in Al-Bivio area and Al-Grarat, and the water will be sucked out of them as soon as possible.

Mohamed Karim added that the Water and Sanitation Company is a classified and commercial service company that finances itself, and suffers from a lack of capabilities, in addition to the reluctance of public and private agencies, which negatively affects the performance of the company’s services.

Mohamed also explained that the Water and Sanitation Company apologizes for stopping the traffic movement, due to the existing company’s failure to absorb the abundance of rainwater, in addition to that the existing system is old and established. The company reassures citizens of the existence of a main communications room to receive their communications on 0213608870, which is the number for the communications room in General Company for Water and Sanitation.

Aguila Saleh calls on the UN envoy to complete the constitutional consultations with the Dialogue Committees of the Parliament and the State Council

Written by LS on . Posted in News. No Comments on Aguila Saleh calls on the UN envoy to complete the constitutional consultations with the Dialogue Committees of the Parliament and the State Council

Today, Monday, Parliament Speaker Aguila Saleh called on the UN envoy to complete constitutional consultations with the Dialogue Committees of the Parliament and the State Council.

Saleh added during a press conference held in Cairo that the achievement of the constitutional rule is the task of the joint committee only and the two councils have nothing to do with it, pointing out that the constitutional declaration issued in 2011 was based on the elections in 2012 and 2014 and it is an existing constitutional basis.

Aguila Saleh said that the committee accomplished a large part of its tasks in the Cairo meetings, but the end of Stephanie Williams’ mission and the delay in assigning a new UN envoy delayed the completion of the constitutional deadline.

The Speaker of the House of Representatives confirmed that foreign interference hindered the efforts of the League of Arab States to resolve the Libyan crisis.

Aguila Saleh expressed his hope for an agreement soon regarding “sovereign institutions,” hoping to complete the tasks of the Libyan Constitutional Committee soon.