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Economy

Algeria starts preparing to export electricity to Libya

Algerian Energy Minister Mustafa Guitouni said his country will export 3,000 megawatts of power to Libya in the coming years. According to the Algerian news agency, Guitouni said on Sunday, work is currently underway to complete and strengthen the transfer of this energy between Algeria, Libya and Tunisia, pointing out …

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NOC welcomes sanctions by Security Council on smugglers

The National Oil Corporation (NOC) welcomed on Saturday the Security Council’s decision to impose sanctions on six people for involvement in smuggling and human trafficking. The NOC chairman, Mustafa Sanallah praised the decision and the efforts of the international community to bring individuals “beneficiaries” of smuggling to justice. According to …

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World Gold Council estimates Libya’s reserves at 117 tons

The World Gold Council estimated on Sunday Libya’s reserves of gold at 117 tons, while the Arab countries collectively have 1006 tons. Libya ranked third in the gold reserves, while Saudi Arabia topped the list with 323 tons. The United Arab Emirates came in last with only 8 tons.   World Gold …

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Protesters close Raguba oil field east of the country

Sirte Oil Company said, protesters closed on Wednesday, the company’s Raguba oil field in Marada area, which produces 5,000 barrels per day of crude oil. A source told Reuters, the protesters threatened to close oil fields and pipelines located in the eastern region unless the government meets their demands to …

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NOC ships first amount of Propane gas to Italy

The National Oil Corporation (NOC) announced on Wednesday, shipping the first amount of propane gas, estimated at 61.761 million barrels, from the port of Zuitina to Italy. The organization said in a statement, this shipment is the first of its kind to Italy since the past four years ago, noting …

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Unemployed threatens to close oil fields

A group of unemployed youth in Marada area said on Sunday, they will close oil fields in the region unless their demands to improve services in their city are met. The group said in a statement, reported by Reuters, they had decided to close all oilfields in Marada Basin so …

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