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Tag: NOC

President of the Rome Chamber of Commerce to Nova: “Contracts for Italian Companies in Infrastructure Projects in Libya Triple Due to $8 Billion Agreement Between the National Oil Corporation and Eni”

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According to Lorenzo Tagliavanti, the President of the Rome Chamber of Commerce, the collaboration between Italy and Libya has seen Italian companies play a leading role in implementing important infrastructure projects over the years. This is evident from the recent tripling of contracts awarded to Bonatti, thanks to an $8 billion agreement between the Libyan National Oil Corporation and Eni.

Tagliavanti emphasized the historical and cultural significance of the relationship between Italy and Libya, highlighting how this partnership has cultivated a fertile ground for future cooperation. He stated, “There are 450,000 companies in our city, and we are honored to have our institution chosen to host this important initiative.”

He added that the rich historical traditions and trade connections between the two countries provide a solid foundation for building new growth pathways. He stressed the role of the Rome Chamber of Commerce in facilitating economic exchanges and promoting mutual understanding between Italian and Libyan companies.

The President of the Rome Chamber of Commerce stated, “We are convinced that economic development and peace are essential elements for the well-being of our populations,” noting that meeting with key entrepreneurs provides an opportunity to strengthen relations between the two countries and establish strategic agreements that benefit not only Italian and Libyan companies but also the stability of the entire Mediterranean region.

Tagliavanti pointed out that Libya represents a highly promising economic market for Italian companies, particularly in the energy and infrastructure sectors, as it possesses significant oil resources, making it one of the leading countries in Africa in terms of crude oil reserves.

This statement was made during a roundtable meeting on energy and infrastructure between Libya and Italy, organized by Energy Capital & Power in collaboration with the Italian-Libyan Chamber of Commerce, the Rome Chamber of Commerce, the Italian-Libyan Parliamentary Friendship Group, and the Italian Trade Agency.

Aoun: “I Was Removed as Oil Minister for Upholding the Law and Defending Libya’s National Interests”

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The Minister of Oil and Gas, Mohamed Aoun, confirmed in media statements that he was removed from the Government of National Unity because of his firm national stance on matters that do not align with Libya’s supreme interests and his refusal of anything that does not comply with the country’s laws, regulations, and guidelines.

Aoun pointed to the recent court ruling he obtained, which halted the implementation of Prime Minister Abdul Hamid Dbeibeh’s decision to assign Khalifa Abdul Sadiq to manage the ministry’s tasks. Despite the court ruling and the reinstatement of Aoun to his position, Dbeibeh did not respond to Aoun’s communications, nor his attempts to reach him in various ways, clarifying that Dbeibeh remains committed to keeping Abdul Sadiq in place.

Aoun stated, “I was hopeful that the Prime Minister would respond to the voice of justice, to the call of duty and the law, and what aligns with the supreme interests of the Libyan state, and that he would cancel the assignment issued to Abdulsadiq to manage the ministry’s tasks.”

Aoun explained that his decision to step back from the scene was due to the Prime Minister’s lack of response to his demands, coinciding with the decision by the Attorney General’s Office to imprison Minister Khalifa Abdul Sadiq and his office director over administrative violations in a case involving breaches that almost cost the ministry nearly $500 million.

Aoun directed a call to the House of Representatives, the High Council of State, the Presidential Council, the heads of the Supreme Court and the Supreme Judicial Council, the Attorney General, and the Head of the Administrative Control Authority to uphold the rule of law, enforce judicial rulings, and stop the ongoing deterioration in the reputation of the National Oil Corporation, which has reached unprecedented levels due to corruption and legal violations in the oil sector.

Minister Aoun concluded by saying, “We are certainly entitled to reaffirm our previous demand, as stated in our earlier declaration, which is that it is the duty of Dbeibeh to immediately correct the situation by issuing an order canceling the assignment of Khalifa Abdul Sadiq, in respect of the court’s ruling.”

Libya Faces $120 Million Loss Due to Recent Oil Shutdowns: NOC Report

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The National Oil Corporation (NOC) of Libya has revealed a staggering $120.3 million in losses due to recent oil production shutdowns. The figures reflect reductions in production over a three-day period from August 26 to August 28, with output plummeting from approximately 1.2 million barrels per day to 591,000 barrels per day by August 28.

These closures, enacted by the eastern-based Hafter regime, are in retaliation for the Tripoli-based Presidency Council’s ousting of Central Bank of Libya Governor Seddiq Al-Kabeer. Al-Kabeer was removed following a decade of operating without a board, leading to the appointment of a new Board and interim Governor.