A group of Gulf investors have joined hands with local firms to buy the largest cement maker in eastern Libya, betting on a construction boom once fighting abates in the North African country, one of the investors said.
Libya rarely attracts investment since much of the country is a battlefield involving two rival governments and parliaments and a
Bayda, Tripoli: Libya’s biggest oil port may reopen in two weeks as fighting in the area recedes amid increasing competition between the divided North African nation’s rival governments for the control of crude exports.
Al Mabrook Bu Seif, the chairman of state-run National Oil Corp appointed by the elected government in the east of the country, said his
Benghazi : Libya, struggling with militant attacks and two governments vying for control of the country, has boosted oil production to around 622,000 barrels a day (bpd), a report from state firm NOC said, higher than previously expected.
The North African oil producer has managed to bring fields in western Libya and eastern ports back online despite militant
Benghazi : Three tankers plan to lift 1.7 million barrels of crude from ports in eastern Libya this week, oil officials said on Monday, giving hope to the battered energy sector in the North African country.
The OPEC member state’s oil sector has been hit by Islamist militant attacks and fighting between rival factions that has shut down
Libya’s largest oil field resumed sending crude for export Sunday after a sabotaged pipeline was repaired, a Libyan oil official said.
The resumption at the Sarir oil field, which pumps about two-thirds of the country’s remaining output, is a rare piece of good news following renewed fighting in Libya’s civil war and a string of attacks by Islamic
Rome–The United States and five of its European allies on Saturday warned that Libya could face bankruptcy if oil prices continue to fall.
In a statement voicing alarm at the deteriorating security situation in the North African state, the allies warned: “In light of low oil production and prices, Libya faces a budget deficit that has the potential
TRIPOLI – An attack by gunmen on the Mabrook oilfield on Tuesday had not affected Libya’s crude production, the oil minister of a rival government said on Thursday.
Mashallah Zwai said the attackers had killed nine Libyan members of an oil security guard unit and one foreigner during the raid on the field located south of the central
APR Energy Plc said it would move its power-producing assets currently located in Libya to other places, as the government has failed to ratify its contract even two months after the company first switched off power generation.
APR, which rents out turbines and generators to overcome power shortages, suspended electricity generation in Libya in early November pending completion