Brent crude prices recorded a rise on Tuesday, reaching the level of $ 70 a barrel, the highest price in two months, in light of optimism in global markets. Black gold prices increased today, Tuesday, as a result of expectations of growth in demand for crude in major regions of …Read More »
National Oil Company: March revenues exceeded $ 2 billion.
The National Oil Corporation announced that oil and gas sales for the month of March reached a record level, recording 2,052,178,786.17 dollars. The Corporation stated that it transferred $ 2 billion to the sovereign account, including $ 1 billion, 498 million, 437 thousand and 86 dollars from the March revenues, …Read More »
Al-Raied: An economic delegation from Turkey and Egypt will visit Libya before Ramadan.
The head of the General Union of Chambers of Commerce, Industry and Agriculture, Mohamed Al-Raied, said that an economic delegation from Turkey and Egypt will visit Libya before Ramadan. To discuss economic cooperation. Al-Raied in a statement to Anadolu Agency, on Monday, on the sidelines of the third session of …Read More »
The stranding of the Panamanian ship in the Suez Canal will cause an increase in oil prices and world trade.
Economic analysts predicted, on Thursday, that the accident of stranding a Panamanian container ship in the Suez Canal would raise oil prices, transportation and insurance, and the cost of global trade. Kuwaiti economic analyst Hajjaj Boukhdour told the Russian news agency “Sputnik” that the ship “EVERGREEN” stranded in the Suez …Read More »
British web site: Al-Kabeer owns a commercial bank in Britain, and there is abuse of power in managing the bank.
A report by the English website “Global Witness” revealed that the Central Bank of Libya owns a network of commercial correspondent banks spanning the five continents, and that the main intermediary for letters of credit is “ABC” Bank indirectly owned by the Central Bank of Libya and its, Governor Al-Siddiq …Read More »
English website “Global Witness” reveals the Central Bank’s manipulation of documentary credits and the indirect ownership of a major bank in Britain.
Our new report illustrates how Libya appears to be losing millions of dollars annually through the fraudulent use of the LC system, run by the Central Bank of Libya. Despite being a vital factor in meeting Libya’s import needs, the appropriations system has been plagued by misuse, which our new …Read More »
Oil sales revenue amounted to more than one billion and 115 million in December 2020.
The National Oil Corporation announced that last December’s revenues from sales of crude oil, gas, petroleum products and petrochemicals reached record levels. $ 1,115,210,431.95. The Corporation said in a statement on Saturday that revenues were deposited in its account in the Libyan Foreign Bank, in line with the temporary arrangements …Read More »
Libya and Italy discuss the implementation of the road project from Emsaed and Ras Ajdir.
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: Failure to achieve political stability in Libya is detrimental to economic growth.
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 »
Tunisian efforts for a major contribution to the reconstruction of Libya.
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 »
National Oil Company returns ownership of the Libyan-Norwegian Fertilizer Company to the state.
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 »
“OPEC” holds a ministerial meeting with the aim of reducing production.
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 condemns the Central Bank’s statement, describing it as “malicious”
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 »