ISIS Member Abu Wael Arrested in Tripoli: A Major Win for Libyan SecurityThe Libyan Internal Security Service has scored a significant victory against ISIS with the successful arrest of a member known as Abu Wael. Unmasking Abu WaelAbu Wael, a master of disguise, altered his appearance to blend in with the local population. A Journey from Syria to LibyaDuring his confession, Abu Wael revealed his journey from Syria to Libya. Libya’s Continued Battle Against TerrorismThe arrest of Abu Wael, reported by the Libyan News Agency, underscores Libya’s ongoing efforts to curb terrorism. Moreover, it is seen as a significant step towards uprooting the presence of ISIS in Libya.

Benghazi Chamber of Commerce, in cooperation with the Tunis Chamber of Commerce and Industry, announced Thursday its participation in the fourth Tunisian International Business and Finance Forum to be held from 22-24 January in Tunis. Benghazi Chamber said this important forum brings together a qualitative number of businessmen from Tunisia and various Arab countries, with the presence and official interest of various Tunisian authorities.

Google told me John Todd had made a submission to a Tasmanian government parliamentary committee on wood smoke in Launceston, some 15 years or so ago. A few hours later, John Todd returned my text message, saying he was overseas but could chat over WhatsApp, which we did. About the same time, Todd’s left arm had been found in the Libyan desert, still bearing his watch which was duly returned to him. “He was the military man who stood behind the governor at all the fancy occasions,” John Todd explains. John Todd remembers an idyllic Caribbean childhood of sea, sand and boats, of having a cook, a gardener and a chauffeur.

The Libyan Tax Authority announced Thursday that it has achieved the highest annual revenues in its history in 2023. It reported that it had earnt total revenues exceeding LD 3.17 billion dinars, an increase of 37 percent or LD 808 million – over 2022. Income tax provides highest revenues for Tax AuthorityThe details published by the Tax Authorities show that income taxes ranked first in revenues with a total of LD 1.52 billion. The total deposit tax amounted to LD 474 million, fines amounted to LD 36 million, and enforcement rights amounted to LD 608,000. Non-oil revenues registered LD 2.14 bn in 2022 – up 0.56 bn on 2021 figures: Tax Authority (libyaherald.com)

Protests in Southern Libya Lead to Shutdown of Major Oil FieldsIn a move that has reverberated across the global oil market, a wave of protests has led to the abrupt shutdown of two major oil fields in southern Libya. The Sharara and el-Feel fields, located in the Ubari region, were forced to cease operations on Wednesday and Thursday, respectively. The closures, as confirmed by onsite engineers, have dealt a significant blow to the country’s oil output and have raised concerns over potential impacts on the global oil supply chain. While the Ministry has reiterated its support for demanding rights and redressing injustice, it has also called upon all parties to ensure the continuation of oil production and improve its marketing. This division has resulted in two conflicting authorities vying for power and control over Libya’s crucial oil and gas sector.

Libya’s state Sirte Oil Company on 28 December announced the successful re-entry of the first of three planned development wells on block NC107 in the Sirte Basin. The A1-NC107 well tested at a “very encouraging” 2,400 b/d of crude, SOC says. Both this and the other two planned production wells were originally drilled more than a decade ago. (CONTINUED - 128 WORDS)

(Bloomberg) -- Oil posted a weekly advance, bolstered by output disruptions in Libya and increased tensions in the Middle East. Most Read from BloombergWest Texas Intermediate rallied near $74 a barrel, posting a 3% weekly gain. Crude’s gain this week comes despite analysts turning more pessimistic on the market. Wall Street already is cutting price forecasts for this year after global benchmark Brent dropped by almost a fifth last quarter. Most Read from Bloomberg Businessweek©2024 Bloomberg L.P.

The PeninsulaAmbassador of Qatar to Libya H E Khalid Mohammed Al Dosari took part in a meeting of Head of the Government of National Unity (GNU) of Libya H E Abdul Hamid Muhammad Al Dbeiba with ambassadors of the Arab, African and Islamic states accredited to Libya. During the meeting, the ambassadors were apprised of the latest political developments in Libya.

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Oil prices stabilised somewhat on Thursday, as concerns over Libyan supplies were allayed by worries about slowing economic growth and demandADVERTISEMENTOil prices slowed their rally somewhat on Thursday, with crude oil falling 0.64% to $72.2 (€65.8) per barrel and Brent crude oil dipping 0.51% to $77.8 (€70.9) per barrel on Thursday (4 December) afternoon. Earlier in the week, oil prices saw some gains after Libya’s largest oilfield, the Sharara, shut down completely amid protests. Oil markets rocked by Libya’s supply pauseThe Sharara oilfield can produce up to 300,000 barrels per day, and is operated in a joint venture between Equitor, Repsol, TotalEnergies, OMV and Libya’s National Oil Corporation. Added geopolitical concerns such as the wider impact of the Israel-Hamas war on oil supply and prices further inflamed supply concerns and supported the price rally early this week. Unrelenting inflation in major European economies could cause higher rates for longerHowever, since then, worries about slowing economic growth and lagging demand have taken centre stage.

SpaceX launched the Ovzon 3 satellite for Swedish satellite operator Ovzon on Wednesday evening, after many delays. Ovzon 3 is the first privately funded and developed Swedish Geostationary Orbit (GEO) communications satellite, and it will support Ovzon’s satcom-as-a-service solutions. It is also Maxar Space Systems’ first flight of Roll-Out Solar Arrays (ROSAs). It is the first proprietary satellite for Swedish satcom company Ovzon, which invested in its own satellite as it is rolling out satcom-as-a-service capabilities. CEO Norén spoke with Via Satellite in 2022, saying the satellite will “revolutionize” the company’s satcom-as-a-service offering and allow service for new generations of small, mobile satellite terminals.

(MENAFN) According to two engineers who spoke to Reuters on Wednesday, ongoing local demonstrations have significantly impacted the production output of Libya's Sharara oil field, a crucial energy asset with a production capacity of approximately 300,000 barrels per day. The engineers' accounts were corroborated by a circulating video clip on social media platforms, depicting demonstrators from the Fezzan region in southern Libya publicly announcing the suspension of operations at the Sharara field until their stipulated demands are adequately addressed. Providing further context to the immediacy and proximity of the demonstrations, the engineer emphasized the presence of protesters directly at the entrance gate of the Sharara field. Meanwhile, a protester from the Fezzan region conveyed their community's grievances and underlying motivations propelling the demonstrations. As the situation continues to unfold, stakeholders remain vigilant, monitoring developments and assessing potential ramifications on Libya's critical oil production infrastructure amidst escalating socio-economic tensions in the Fezzan region.

The European Union Border Assistance Mission in Libya (EUBAM Libya) announced today that Jan Vyčítal was appointed as its new Head of Mission. According to EUBAM, Vyčítal is “a seasoned Czech diplomat with over 20 years of experience” and “will lead the mission in supporting Libyan authorities in the fields of border management, combating cross-border crime, and countering terrorism.”“I am honored to take on this important role,” said Vyčítal. The mission contributes to enhancing the capacity of the relevant Libyan authorities and agencies in the management of Libya’s borders; fighting cross-border crime, including human trafficking and migrant smuggling; and countering terrorism. In carrying out its tasks, EUBAM Libya provides technical advice, and capacity-building activities at the operational and technical levels, including projects and specialized training. Furthermore, the mission provides strategic advice where requested by the Libyan authorities.

The Dow Jones Industrial Average (^DJI) closed just above the flatline, while the benchmark S&P 500 (^GSPC) fell about 0.3%. Investors looking for confirmation of bets on a March rate cut got uncertainty instead in the Fed minutes released Wednesday. In single stock moves, Apple (AAPL) stock stumbled for a fourth straight day as Wall Street highlighted concerns about weakening iPhone demand. The monthly labor report from the Bureau of Labor Statistics, slated for release at 8:30 a.m. Story continuesClick here for in-depth analysis of the latest stock market news and events moving stock prices.

Crude oil prices moved lower today after the Energy Information Administration reported substantial fuel inventory builds for the week to December 29. In crude oil, the authority estimated an inventory decline of 5.5 million barrels for the last week of 2023. This compared with a weekly inventory draw of 6.9 million barrels for the previous week, when fuel inventories posted mixed inventory changes with gasoline stocks falling and middle distillate inventories swelling. Gasoline production averaged 8.8 million barrels daily last week, which compared with 10 million barrels daily. Middle distillate production averaged 5.1 million barrels daily in the final week of December, which compared with 5.1 million bpd for the previous week.