First Independent Mena Newspaper
The Egyptian state oil firm has issued a tender to purchase around 500,000 tons of gasoil for delivery into Mediterranean ports between January and March next year according to a tender document. The tender is for 15 cargoes to be delivered in Alexandria, Egypt’s second largest city and El Dekheila. Bidding ends on the 18th […]
The Portuguese company Galp Energia (Petróleos de Portugal e Gás) announced it has acquired a 50 percent stake in the Tarfaya Offshore area, comprising eight exploration permits, known as Tarfaya Offshore I to VIII, located on the Atlantic Margin, offshore Morocco. The company acquired the shares under a farm-in agreement with the Australian company, Tangiers […]
Bejaia will be home to an oil terminal in 2015 destined to play a major role in the maritime area of Sidi Ali Lebhar according to the CEO of the Bejaia port company, Djelloul Achour. The project has obtained the Ministry of Energy and Mines approval and has been undertaken by Laboratory of Maritime Studies […]
Libya has offered its neighboring country, Tunisia, a financing assistance to promote its development. Considered as a duty by Chief Mohamed Magarief of the Libyan General National Congress, the 98 million Euros development assistance package also manifests the bond between the two countries. Libya believes that they are confronted with the same challenges as they […]
At the ongoing forum between Italian and Libyan counterparts, the latter has presented possibilities of establishing Italian businesses in the country. Libya is inviting them to invest in the country. On behalf of the government, deputy minister Ali Ahmed Elsaleh told the Italian investors about their plans and hoped that they will take part in […]
The minister responsible for investment has voiced out that the country’s actual economic situation might force the government to ask for a precautionary standby credit line worth $2.5 billion from the International Monetary Fund. He said they not completely ruling out the idea because they need the sum in order to give assurances to their […]
Libya’s Afriqiyah Airways has ordered four more Airbus A350-900s planes worth over $1.4 billion as the company prepares its international and regional comeback with competitive services. The carrier has also converted its original order for six Airbus A350-800s into six of the larger A350-900 model bringing up its total order to 10 jets. Afriqiyah Airline, […]
Egypt’s economy might be heading for the worst as the board of the International Monetary Fund (IMF) meets in a few weeks to consider almost a $5 billion financing agreement amidst political crisis in the country. The board will be requiring that there is no major change in economic outlook or policy when it makes […]
The head of Libya’s oil ministry Abdelbari al-Arusi is planning to set up two separate institutions which will be responsible for the exploration and production activities on one hand and the other will be taking care of the refinery but they will all be under the ministry. According to reports, Benghazi will host the body […]
Egypt and Tunisia will shortly recover the assets that were frozen under sanctions decreed by the European Union against their former presidents Hosni Mubarak and Zine El Abidine Ben Ali, who were both toppled in Arab Spring uprisings. The Council of the European Union announced Monday that the EU took steps to facilitate the return […]