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Economy

NOC Says Libya Cannot Abide By OPEC Oil Production Cuts

(Author: Libyan Gazette Editorial Staff) On Sunday, Libya’s state oil corporation announced that it will not get involved with the Organization of the Petroleum Exporting Countries (OPEC)’s oil production cuts in the the “foreseeable future”. According to the National Oil Corporation (NOC)’s Chairman Mustafa Sanalla, since Libya has only recently …

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Turkey Renews its Support for Libya’s Path to Stability

Turkish representatives met with North African officials in Tunisia to discuss Turkey’s relationship with the Maghreb region. Emrullah Isler, Turkey’s special envoy to Libya, re-emphasized Turkey’s support for Libya as well as other North African nations. “Turkey backs a consensus government in Libya which is welcomed by the all Libyans,” …

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OPEC Gives Libya Green Light to Double Oil Production

(Author: Libyan Gazette Editorial Staff) The Organization of the Petroleum Exporting Countries (OPEC) is allowing Libya to nearly double its crude oil export despite a deal being developed to cut production to manage the oversupply of crude oil. According in Mustafa Sanalla, the chairman of the National Oil Corporation (NOC) …

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Es Sider Oil Terminal Will Soon Reopen

(Author: Libyan Gazette Editorial Staff) The largest oil terminal in Libya is likely to reopen sometime next week in hopes that the increase in oil revenue will provide relief to the struggling Libyan economy. Maintenance work at Es Sider port is nearly complete and the port could potentially be ready …

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