The National Oil Corporation (NOC), on Sunday, said that the continuation of the shut down of Al-Sharara field costs the economy $32.5 million a day. On its official site, the company stated on Saturday that the halt of the field will cause daily losses in production, estimatedly at 315 thousand barrels …
Read More »Brent Crude Climbs 4.5 Percent To $ 62.35 A Barrel
Brent crude climbed 4.5 percent on Monday to $ 62.35 a barrel after Qatar withdrew from the Organization of the Petroleum Exporting Countries (OPEC) as of Jan. 1, 2019. Oil prices also rose 5 percent after the United States and China agreed not to impose any new tariffs for 90 …
Read More »We will not hesitate to secure the livelihood of Libyans, said NOC chairman
The National Oil Corporation (NOC) chairman, Mustafa Sanalla that the institution will not hesitate in carrying out its duties and responsibilities towards securing the source of the people’s income until the country reaches safety. During his visit to the injured staff of the NOC, Sanalla stressed that the safety of …
Read More »Attack on Oil Corporation shows fragility of security situation in the country, says NOC chairman
The National Oil Corporation (NOC) chairman, Mustafa Sanalla said on Monday “the attack on the headquarters of the Corporation shows the fragility of the security situation in the country”. Sanalla stressed the importance of additional security measures to ensure that the NOC is able to withstand those who seek to …
Read More »Fire controlled at Zelten oil field
Sirt Oil Company announced that it had taken control of a fire that broke out in Zelten oil field. A source from the field told Reuters on Saturday that one employee was injured in the fire, which was caused by leakage at a field treatment plant. In December last …
Read More »Fuel available and there is no need for congestion on stations, says Brega
Brega Company for Oil Marketing assured citizens that fuel of all types is available in all warehouses of the company. The company said on its official page on Tuesday that the distribution is going directly from the tanker at the port of Tripoli to the maritime distribution companies, and is …
Read More »NOC confirms availability of fuel despite clashes in Tripoli
The National Oil Corporation (NOC) confirmed the availability of fuel despite the armed clashes taking place in the south of Tripoli. The NOC said on its official website on Sunday that there are alternative plans prepared by Brega Oil Marketing Company to market oil in advance to continue work on …
Read More »UNSMIL: Economic reforms are long overdue and we are facilitating their implementation
The head of the United Nations Support Mission in Libya (UNSMIL), Ghassan Salame said that the Mission not only supports economic reforms, but also is rushing for their implementation and facilitates the employment of the necessary monetary, financial and economic reforms. Salame said in a press statement on Wednesday that …
Read More »El Sharara oil field production rises to 260 thousand barrels per day
A source from El Sharara oil field said the production of the field amounted to 260 thousand barrels per day, after the restart of the control station. The source said, in a statement to Reuters on Tuesday, that station 186 was restarted with a capacity of 50 thousand barrels per …
Read More »Al-Sarraj: CBL will handle the exchange rate and fuel subsidies
The head of the Presidential Council (PC), Faiz Al-Sarraj said the Central Bank of Libya (CBL) will handle the dinar exchange rate and fuel subsidies to avoid the legal debate on the implementation of economic reforms. Al-Sarraj said during a meeting with Canadian Ambassador to Libya, Hillary Adams that he …
Read More »CBL denies Operation Dignity spokesperson accusations of funding Al-Jadran
The Central Bank of Libya (CBL) denied on Thursday allegations by Haftar Forces spokesperson, Ahmed Al-Mismari that the bank had given money to Ibrahim Al-Jadran, describing it as “fabrications”. In a statement, the bank denounced Al-Mismari’s statements, stressing that the remittances carried out by the bank are carried out with …
Read More »World Bank: 500 million liters of Libyan fuel smuggled to Tunisia
The amount of fuel smuggled from Libya to Tunisia is estimated at 500 million liters annually, equivalent to 17 percent of the Libyan state budget, said Abdullah Sy, an economist at the World Bank’s Sustainable Development Department. In a study prepared by the World Bank on Tunisia and Libya, Sy …
Read More »Sudan plans to open trade crossings with Libya
North Darfur State governor, Sharif Mohamed Abbad confirmed that the border with Libya is secure, in light of the deployment of regular forces and Sudanese swat forces. Abbad, according to the Sudanese Center for Press Services revealed on Friday, of plans for reopening commercial crossings with Libya, pointing to the …
Read More »AGOCO output at 150,000-180,000 bpd after oil crescent crises ends
An official at Hariga oil port said Arabian Gulf Oil Company (AGOCO) production of crude oil is at between 150 thousand and 180 thousand barrels per day, after the resumption of production in the oil fields. The source said on Tuesday that an oil tanker entered Hariga port last Sunday …
Read More »Algeria has project to produce electricity in Libya
Algeria’s Sonlagaz Group director-general, Mohamed Arkab said Algeria and Libya have a partnership venture to produce electricity in Libya. Arkab explained in response to a question about Sonelgaz’s activities in Libya, according to Akhbar Al-Youm newspaper, the project focuses on the maintenance of electrical equipment, pointing out that Algeria is …
Read More »Libyan Foreign Bank receives Best Bank in Africa honor
The Libyan Foreign Bank receives the Best Bank in Africa Award in terms of contributions and capital for year 2018. The Libyan Foreign Bank said on its official page on Sunday, the International Union of Arab Bankers organized the awards ceremony of excellence and achievement of Arab banking in 2018, …
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