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Economy

PC forms committee to reduce state revenues spending

The head of the Presidential Council (PC), Faiz Al-Sarraj agreed with the Minister of Finance, Osama Hammad to form a crisis committee to collect state revenues, reduce expenditure and consumption. Al-Sarraj discussed with the Minister of Finance on Sunday the impact of the low revenues of the State; because of …

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Ras Lanuf announces storage tank out of danger

Ras Lanuf oil and gas processing corporation announced on Wednesday that Harouge oil company storage tank is out of danger. The company said on its official page, the weather and wind direction helped to keep the fire away from the tanks 1 and 3 adjacent to the burning tank. The …

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UK in contact with Security Council regarding oil crescent

British Ambassador to Libya, Frank Baker described on Wednesday the clashes in the oil crescent area as “terrorist”, stressing that his country will deal with it in a “serious” manner. In a meeting with the chairman of the National Oil Corporation (NOC), Mustafa Sanallah, Baker said Britain is “strongly opposed” …

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NOC reports nearly half a million barrels of oil loss

An official at the National Oil Corporation (NOC) said on Monday the situation in Harouge reservoir is critical and catastrophic. The official, who asked not to be named, said in a statement to ArraedLG, the NOC had lost oil reservoirs 2, 12, and 400,000 barrels of crude oil, which caused …

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