Libya

Turkey announces 20 bln barrel oil field discovery in East Africa

Turkish explorations offshore Somalia led to the discovery of commercially viable crude oil, estimated at 20 billion barrels. Turkey and Somalia had signed a deal under which Turkey controls 90% of oil and gas output rights. The deal triggered criticism for its unfavorable terms for Somalia, a war-torn and cash-strapped country. Somalia’s President Hassan Sheikh […]

Algeria: Court Blocks Billionaire’s Acquisition of TV, Newspaper Group

An Algerian administrative court on Wednesday upheld its last month provisional ruling cancelling the multimillion dollar takeover of the private El Khabar media group by Ness-Prod, a subsidiary of agribusiness group Cevital owned by billionaire Issad Rebrab. The court ruled that the agreement reached between the two parties is null and that El Khabar’s newspaper […]

Greece rejects Libyan maritime claims, urges dialogue on border delimitation

The Greek Government has lodged a verbal note with the UN Secretary-General rejecting what it termed as “Libyan claims” over two maritime blocks, south of Crete, asserting that the areas lie within its continental shelf and Exclusive Economic Zone (EEZ), in accordance with the median line principle and its maritime demarcation agreement with Egypt. A […]