Economy

The Audit Bureau media office director, Ibrahim Bouzreiba said on Saturday the Bureau takes full responsibility of all the information contained in its report on the Central Bank of Libya (CBL). Bouzreiba said in a statement to ArraedLG, the information contained in the report is supported by documents, some of …

The High Council of State member, Najat Sharaf Addin said on Friday the Council will reconsider the post of governor of the Central Bank of Libya if current governor did not commit to implementing the economic reforms promised. Sharaf Addin said in a statement to ArraedLG, the members of the …

The Chairman of the Board of Directors of the National Oil Corporation (NOC), Mustafa Sanalla discussed with the heads of companies preparations for the resumption of production and maintenance operations, export fields and oil ports, which were closed during the crisis of oil ports. The NOC in a statement to …

The exchange rate of the dollar fell on Wednesday against the Libyan dinar in the parallel market after the announcement by the National Oil Corporation (NOC) of receiving the oil ports and the lifting of the status of force majeure. The price of the dollar stood at 6,670 dinars, after …

Director of the Food Control Center, Abdelmajid Boulmida said on Wednesday that the Center rejected a shipment of “wheat straw” coming from Bulgaria because of damage it sustained from seawater and moisture. Boulmida said in a statement to ArraedLG that the return of the shipment is not within the jurisdiction …

The Head of the Audit Bureau, Khaled Shakshak, decided to form a committee to coordinate with the Audit Bureau in the Eastern Region to “achieve comprehensive and effective control over public funds and to overcome the state of division.” The decision, issued Tuesday, provides the committee charged with proposals on …

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 …

The Government of National Accord (GNA) Ministry of Health said on Sunday Ukrainian medical exports to Libya amounted to about 600 thousand dollars during the first quarter of this year 2018. The Minister of Health, Omar Al-Tahir also discussed with Ukrainian Ambassador, Mykola Nahorny ways to facilitate the issuance of …

Tunisian Minister of Industry, Salim Al-Feriani predicted that the volume of trade exchange between his country and Libya would exceed 1 billion Tunisian dinars by the end of 2018. “The volume of trade between Tunisia and Libya has returned to 450 million Tunisian dinars in the past five months,” Al-Feriani …

Oil prices jumped on Tuesday after the National Oil Corporation (NOC) announced force majeure at Hariga and Zuetina oil ports. Brent crude was up 41 cents from closing at $ 77.71 a barrel, while the WTI rose 57 cents to $ 74.51 a barrel, according to Reuters.   On Monday, …

Libya’s production of crude oil fell to between 600 and 700 thousand barrels per day after the clashes that broke out in the ports of Ras Lanuf and Es Sidra, a source from the National Oil Corporation (NOC) said on Wednesday. According to Reuters, the source said the NOC is …

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 …

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” …

The Government of National Accord (GNA) Finance ministry denounced the armed attacks on the oil crescent area, describing them as “terrorist.” The ministry said in a statement on Sunday, the head of the National Oil Corporation (NOC) said the losses caused by the attack, estimated at $ 880 million a …

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 …

The National Oil Corporation (NOC) evacuated on Thursday staff from the Ras Lanuf and Es Sidra ports for safety reasons following armed clashes in the region. A source from the NOC, who preferred not to be named, said the losses of oil production after the clashes exceeded 240 thousand barrels, …