First Independent Mena Newspaper
On Monday September 2, the National Oil Corporation (NOC) declared force majeure on the El Feel oil field in southwestern Libya, citing circumstances beyond its control as the reason for this measure. According to the NOC’s statement, the declaration was necessitated by current issues affecting crude oil production in Mellitah, which have hindered its ability […]
Libya’s central bank chief Sadiq al-Kabir said he and other senior bank employees had to flee the country to protect their lives from militias. Few days ago, the bank suspended activity after a senior official was kidnapped by militias. Disrupted central bank activity, which controls billions of hydrocarbons money, has forced oil production to shutdown […]
Engineers from Libya’s Sarir, Messla, and Nafoura oilfields told Reuters on Saturday August 31, that they had received orders to resume production. This development marks a significant shift following a prolonged standoff between rival political factions that had led to the closure of most of the country’s oilfields. The resumption of operations was directed by […]
UN Security Council members voiced concerns over recent tensions in Libya, urging all Libyan actors and institutions to avoid unilateral actions that could escalate conflicts and deepen divisions. The council members called on Thursday for a de-escalation of tensions, urging Libyan leaders to refrain from using force, threats, or economic pressure, and to seek a […]
Oil prices saw a modest rebound on Thursday August 29, recovering from two consecutive sessions of declines. This uptick was largely driven by renewed concerns about potential disruptions to Libyan oil supplies. Brent crude futures increased by nine cents, or 0.11%, reaching $78.74 per barrel. Similarly, U.S. West Texas Intermediate (WTI) crude futures climbed by […]
Libyan Prime Minister Abdul Hamid Dbeibah underscored the urgent need to hold accountable those responsible for the closure of the country’s oil fields during a meeting with Stephanie Koury, the Acting Head of the United Nations Support Mission in Libya. During their talks, on Wednesday, Dbeibah and Koury reviewed recent political developments in Libya and […]
The United Nations and the US have called for an “urgent” meeting of Libyan political leaders to address the crisis of the Central Bank of Libya (BCL) and the blockade of oil production and exports. The UN Support Mission in Libya expressed “deep concern” over the worsening situation and convened a meeting to seek a […]
The Board of Directors of the Central Bank of Libya, appointed by the Presidential Council, announced on Monday (August 26) evening that it has fully assumed its management duties. The announcement was made through a statement on the bank’s Facebook page. In the statement, the board affirmed its dedication to ensuring a smooth transition and […]
Authorities in Eastern Libya announced on Monday, August 26, 2024, the closure of all oil fields and terminals and halted exports indefinitely amid a severe political crisis with the UN-recognized government in Tripoli. This move comes in response to Tripoli’s takeover of the Central Bank and the replacement of its governor, Al Siddik al Kabir, […]
At the conclusion of its meeting in Sirte on Sunday, the 5+5 Joint Military Commission reassured all Libyans of the ceasefire’s stability, referencing the agreement signed in October 2020 under UN auspices in Geneva. The Commission emphasized that “all Committees responsible for implementing and monitoring the agreement continue their work with dedication and sincerity.” The […]