The Undersecretary of the Foreign Ministry for Technical Affairs, Mahmoud Khalifa Al-Tilisi, discussed with the Italian ambassador to Libya “Giuseppe Buccino” the initiation of the implementation of the fourth sector of the coastal road project, from Emsaed to Ras Ajdir within a specified period of time. Giuseppe presented a draft …Read More »
The World Bank said Sunday that the failure to achieve political stability in Libya was hurting the country’s long-term economic growth. In its annual report issued in January, the bank added that oil production in the Middle East and North Africa region is expected to recover, supported by the rapid …Read More »
The head of the Supreme Council for Tunisian and Libyan Businessmen, Abdel Hafiz Al-Sakraafi, said that Tunisia is seeking to obtain a major contribution in the reconstruction of Libya, estimated at $ 10 billion in the coming years. Al-Sakraafi added, in a statement to the Al-Araby Al-Jadeed website, on Friday, …Read More »
On Monday, the National Oil Corporation acquired the shares of the Norwegian “Yara” company in the Libyan-Norwegian Fertilizer Company, after negotiations with all concerned parties. The Corporation said – in a statement – that the acquired shares of the company is 50%, and with this step the ownership of the …Read More »
The Economist: Libya Will Be Among The Top Ten Fastest Growing Countries In The World Next Year After The Oil Sector Recovers.
The British “Economist” magazine suggested that Libya would be among the ten fastest growing countries in the world next year, with a GDP growth rate of 20.9%, supported by a recovery in oil and gas production. In its report on growth expectations next year, the magazine emphasized that the high …Read More »
International Energy Agency: Exporting countries from outside the “OPEC +” will increase production by 400 thousand barrels per day next year.
The International Energy Agency announced, Tuesday, that non-OPEC + producers are about to increase production by 400,000 barrels per day next year, after a decrease in production by 1.3 million barrels per day this year. The agency revealed, according to the Russian Sputnik Agency, that global oil supplies rose by …Read More »
On Monday, the Ministerial Summit of the Organization of the Petroleum Exporting Countries (OPEC) began, by virtual means. With the aim of reducing oil production in the future, as the Corona epidemic continues to cast its shadow on the global market. The Algerian Minister of Energy, in his capacity as …Read More »
Sanallah: The Corporation will keep oil revenues until there is transparency from the central bank, whose monetary policies are a failure.
The head of the National Oil Corporation, Mustafa Sanallah, said that he will keep oil revenues in accordance with the law until there is transparency and a clear disbursement mechanism by the Central Bank of Libya. On Sunday, Sanallah asked the Governor of the Central Bank of Libya, Al-Siddiq Al-Kabeer, …Read More »
The National Oil Corporation denounced what it called “inaccuracies and misleading” in the statement of the Central Bank of Libya regarding revenues and expenditures in the period between January and last October, describing it as a “malicious” claim issued by the Central Bank. The Corporation stated – in a statement …Read More »
The head of the local authority in the Tunisian city of Ben Guerdane, Fathi Al-Aabab, said that the merchants in the city were pleased with the reopening of the border crossings between Libya and Tunisia, indicating that this decision re-injects blood into a vital economic artery for the entire south …Read More »