First Independent Mena Newspaper
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 […]
The Tunisian General Consulate in Benghazi officially reopened its doors on December 4, marking a significant milestone in Libya-Tunisia relations after more than a decade of closure. This announcement was made by the eastern-based Libyan Foreign Ministry, which hailed the reopening as a reflection of Benghazi’s growing stability and security. The decision to restore diplomatic […]
The African Energy website reported Monday, December 2 that Libya is seeking to recover over $60 billion in assets secretly invested in U.S. Treasury bonds during Muammar Gaddafi’s regime. The funds, previously unknown, were reportedly funneled through complex networks starting in the 1990s, bypassing strict international sanctions. A delegation led by Mohammed Mansli, Director General […]
Farhat Bin Qadara, Chairman of the Board of Directors of the National Oil Corporation (NOC), revealed on December 2 that a staggering 70% of Libya’s land remains unexplored, underscoring the vast untapped potential within the country’s oil sector. This revelation came during a series of workshops in Cairo, organized in collaboration with the US Department […]
The Tripoli Court of Appeal has issued a final ruling confirming that Farhat Bengdara, Chairman of the National Oil Corporation (NOC), holds citizenship of the United Arab Emirates (UAE). The court’s decision annulled all actions and decisions taken by Bengdara in his capacity as NOC Chairman, citing a violation of Libya’s Citizenship Law No. 24 […]
Libyan Prime Minister Abdul Hamid Dbeibah officially circulated a decision to dismiss Mohammed Oun from his role as Minister of Oil and Gas to the Energy Council (the Ministry of Oil, and the National Oil Corporation). In response, Oun issued a public statement on November 28, asserting that the dismissal was invalid. He revealed that […]
Al-Waha Oil Company has achieved its highest oil production level in over 11 years, according to an announcement by the National Oil Corporation (NOC) on Wednesday, November 27. Daily production for Al-Waha reached 350,549 barrels of crude oil, contributing significantly to Libya’s total crude output of 1,380,470 barrels over the past 24 hours. Additionally, Libya’s […]
Libya is seeking to address the pressing issues related to Libyan nationals detained in foreign prisons, with focus on their status and welfare. To this end, the Ministry of Foreign Affairs hosted in Tripoli, on Tuesday, a meeting that was attended by officials from the Ministry of Justice. The meeting reviewed detailed databases of cases […]
Libya has been elected to chair the International Olive Council (IOC), formerly the International Olive Oil Council, for a one-year term. The election took place during the 120th session of the IOC, held this week in Spain. Libya competed against Uruguay and Israel for the position. Iran, the outgoing chair, had sought an extension of […]