First Independent Mena Newspaper
Libya is on the verge of becoming a failed state if the war in the country does not come to an end and attacks on oil installations are not halted. Mashala Zwai, the oil minister of the Tripoli-based government warned that the country was becoming “a second Somalia” as fighting between the militias of the […]
The Tobruk-based government has requested the U.N. Security Council’s authorization to import military equipment from Ukraine, Serbia and the Czech Republic, arguing that the weapons will help control Libya’s borders and fight the Islamic State militants and other extremists in the country. Libya has been under an arms embargo since 2011 and all military shipments […]
Fighting for the control of eastern oil ports have broken out after Fajr Libya launched an operation to “liberate oilfields and terminals.” Last week, President Al Thinni of the Tobruk government said means are being developed to ensure that the payment of oil exportations to accounts that are not under their control be stopped. Fighting […]
As the stand-off in Libya between the two governments continues, Prime Minister Abdullah al-Thinni of the internationally recognized Tobruk government is planning to approach it with a financial perspective. He wants to stop the payment of oil exportations to accounts that are not under its control in order to drain the financial power of the […]
Oil exportation has begun at the Es Sider port, Libya’s biggest oil port, after being closed for a long time. The spokesman of the National Oil Corporation (NOC), Mohamed El Harari, confirmed that the loading of 600,000 barrels of oil onto a tanker. Libya is still below the 1,4million barrels per day exportation it reached […]
Libya is drafting a law aimed at making its oil industry more attractive to foreign investors. Most of the investors left the North African country when the war got intense between Gadhafi’s army and the rebels. Libya has one of the largest oil reserves in the world but political tensions have made it a high […]
Shortly after Prime Minister Ali Zeidan announced on Wednesday that the Al-Harriga terminal which has a production capacity of 110,000 barrels will resume production and exportation after reaching an agreement with the protesters. Libya’s National Oil Corporation (NOC) published on its website that it has lifted the force majeure on the oil terminal on Thursday. […]
The production of oil in the leading oil production country in Africa has suffered a drastic decline since its civil war in 2011. The ongoing protest in Libya has led to the closure of two export terminals and an entire oil field. Frequent disruptions in the MENA region has led to North America leading the […]
Three important state firms will have their headquarters moved from Tripoli to Benghazi in the drive to give the eastern city more authority. According to a government decree, Libyan Airlines, Libyan Insurance Company and the National Investment Company, as well as the Tripoli-based National Oil Corporation (NOC), will be transferred. The decree has to be […]
Two senior officials in the Libyan oil ministry have claimed that Libya could be exporting $1,2 billion worth of crude oil at world prices, but on interest-free credit for a year to Egypt, in order to save the country from fuel shortages with the government finding it difficult to honor energy importation dues. These importations […]