First Independent Mena Newspaper
A source familiar with Libya’s oil sector has alleged that the National Oil Corporation (NOC) is publishing inflated production figures to evade accountability for the utilization of a 60 billion Libyan dinar budget allocated to increase oil output. According to the source, OPEC’s monthly report, released on December 13, 2024, stated that Libya’s crude oil […]
Libya’s state-owned National Oil Corporation (NOC) declared force majeure at its 120,000 b/d Zawiya refinery on Sunday following clashes between armed groups near the facility. NOC said a number of storage tanks were hit, causing fires. These were subsequently brought under control, it added. Zawiya is Libya’s largest operational refinery, with most of its production […]
The Libyan Government of National Unity has called on Moscow to provide an urgent explanation regarding the Russian Embassy’s recent travel warning for Libya. Issued on Thursday, December 12, the advisory discourages Russian citizens from traveling to Libya, citing risks to safety, and comes in the wake of the arrest of a Russian citizen in […]
Congo-Brazzaville President Denis Sassou N’Guesso conducted a three-day visit to Libya from December 9 to December 11, marking his first trip to the country since 2011. Acting in his capacity as Chair of the African Union High-Level Committee for Libya, Sassou N’Guesso engaged in talks with key Libyan officials in both Tripoli and Benghazi. His […]
The International Monetary Fund has urged Libyan authorities to prioritize spending through an approved and unified 2025 budget to prevent pro-cyclical expenditure and enhance resource management. The IMF announced on December 10 that Libya’s recovery in oil production has led to an upward revision of the country’s GDP growth forecast for 2025. In its report […]
The fall of Syrian long-time dictator Bashar al-Assad’s regime could lead to Russia losing its military bases located in the country and, if this happens, it could have serious consequences for the Kremlin’s operations and power projection in Libya and sub-Saharan African countries, says a latest report by the American Institute for the Study of […]
Libyan Prime Minister Abdul Hamid Dbeibah has approved the National Food Security Strategy 2025-2035, developed by the National Council for Economic and Social Development. The approval was announced during a ceremony held in Tripoli on Sunday, December 8. Dbeibah emphasized that food security is a national priority and a key pillar for economic and social […]
The National Oil Corporation (NOC) of Libya, through its technical Committee, announced the launch of a public tender offering 22 new onshore and offshore exploration blocks to international oil companies. This initiative is part of Libya’s strategy to attract foreign investment and expand its energy sector. The announcement was made during the eleventh meeting of […]
Libya is enacting extraordinary measures to tackle its persistent liquidity crisis. On December 5, 2024, the Central Bank of Libya announced a partnership with the British company ‘De La Rue’ to print 30 billion dinars (approximately $6.25 billion) in new currency. This decision follows years of acute financial difficulties, compounded by political instability since the […]
Libya’s National Oil Corporation (NOC) announced this December that it has transferred over $14.8 billion in oil revenues to the Central Bank of Libya since the beginning of 2024. This substantial amount was sent through 23 separate transactions, highlighting the vital role of oil in sustaining Libya’s economy. According to the NOC’s statement, the precise […]