Crude Tumbles as China Holds Back from Adding Stimulus Measures
Nov WTI crude oil (CLX24) today is down -3.96 (-5.13%), and Nov RBOB gasoline (RBX24) is down -10.48 (-4.87%). Crude oil and gasoline prices today gave up an early advance and sold off sharply after China refrained from adding new stimulus measures. Also, an increase in Libyan crude production is weighing on crude. Crude oil prices tumbled today after China's National Development and Reform Commission, the country’s economic planning agency, failed to announce any new large stimulus measures following today’s meeting, which sparked long liquidation in crude. A bearish factor for crude oil is ramped-up crude output in Libya after the resolution of a political standoff that had curbed the country's crude production and exports.
Source:Libya Today
October 08, 2024 18:06 UTC
Libya's oil production rebounds as political accord eases crisis
XinhuaTRIPOLI: Libya's oil production has rebounded sharply, reaching 1.13 million barrels per day on Tuesday, just days after the country's eastern-based government lifted a blockade on oil fields and ports, the state-owned National Oil Corporation (NOC) reported. The revival follows a political agreement brokered by the United Nations to resolve a dispute over control of the country's central bank, highlighting the intricate link between Libya's oil sector and its fractious politics. Libya's oil industry, the backbone of its economy, has frequently been caught in the crossfire of political disputes since the fall of former leader Muammar Gaddafi in 2011. The latest crisis erupted when the Tripoli-based Presidential Council attempted to replace the central bank governor, a move the eastern government rejected as overstepping its authority. In response, the eastern administration shut down oil production, describing it as "a precautionary measure" against unauthorized control of the bank.
Source:Libya Today
October 08, 2024 17:54 UTC
Eagles begin training today as 9 players arrive Uyo camp ahead Libya clash
No fewer than nine players of the national men’s football team, the Super Eagles have arrived their camp in Uyo, Akwa Ibom state. The team is set to begin physical training today (Tuesday) for their Africa Cup of Nations (AFCON) qualifiers against Libya billed to hold in the coming days. Read Also: Finidi rues time as Super Eagles boss, recounts challengesMore players are expected to join the team, as 23 players had been invited for the encounters. The Super Eagles will hold their first training session at the practice pitch of the Godswill Akpabio International Stadium, Uyo later this evening. Join the conversationOpinionsSupport Ripples Nigeria, hold up solutions journalismBalanced, fearless journalism driven by data comes at huge financial costs.
Source:Libya Today
October 08, 2024 17:49 UTC
Oil Dips Below $80 on Libya Output, Weak Demand in China
Oil Dips Below $80 on Libya Output, Weak Demand in ChinaOil dipped below $80 per barrel (bbl) in the global commodities market on Tuesday as the forces weak demand in China was supported by increase output in Libya. Prices of crude oil had climbed strongly yesterday with Brent closing just below $81 amid fears over oil infrastructure in the Middle East if Israel-Iran conflict escalates further. Without policy support, an economic slowdown could keep China’s oil demand subdued in the short to medium term, ING said. Reports suggest that oil output in the region reached 1.1m bbls/d, following the removal of a blockage by the eastern government on 3 October. #Oil Dips Below $80 on Libya Output, Weak Demand in ChinaNigerian Treasury Bill Yield Climbs to 23%
Source:Libya Today
October 08, 2024 16:55 UTC
As politics calms, oil output in Libya exceeds one million barrels per day
Libya’s oil production has risen above one million barrels per day (mbbl/d) for the first time since August, as political groupings within the nation finally reached a deal on electing a new leadership team for the central bank. The OPEC member’s output stood at 1,067,000 barrels per day (bpd) over the weekend, according to several news reports citing unnamed government figures. Back in August, production plummeted to approximately 590,000bpd, according to figures provided by the National Oil Corporation, as political turmoil engulfed the country. In September, it seemed likely that OPEC+ would implement a planned rise in oil output in October as a way to balance cuts by some members and the huge drop in Libya’s oil output. "As politics calms, oil output in Libya exceeds one million barrels per day" was originally created and published by Offshore Technology, a GlobalData owned brand.
Source:Libya Today
October 08, 2024 15:23 UTC
Protectt.ai join forces with TechBridge MEA to safeguard Banking, Financial and Sensitive Mobile Apps in Middle East & Africa
Protectt.ai, Leader in Mobile App Security in India delivering RASP (Runtime Mobile App Self Protection) Mobile App Security XDR platform, has announced a strategic collaboration with TechBridge Distribution MEA, a leading value-added distributor and solutions provider in the cybersecurity industry. As part of Protectt.ai’s ongoing commitment to advancing mobile app security, they are now set to offer their flagship product, AppProtectt Mobile App RASP XDR solution in Middle East and Africa. “Our mission has always been to set new standards in mobile app security,” said Manish Mimani, Founder & CEO, Protectt.ai. “We are thrilled to partner with TechBridge (Distribution) to bring our cutting-edge Mobile App Security RASP XDR platform to Middle East and Africa. By combining our expertise and resources, we aim to turn challenges into opportunities and set new industry standards for Mobile App Security.
Source:Libya Today
October 08, 2024 15:10 UTC
OIL drops almost 5% amid rising production output in Libya📉
Brent Crude (OIL) drops almost 5% as Libya's NOC informed about rising production (to 1.13 million barrels per day, first time since August), while Middle East tensions weakened, as Israel didn't respond to Iran's attack yet. Investors expect that the political stalemate, which stopped production in Libya for more than a month, is now ended. Libya expects that oil production will back to historic levels during days. Even hundred thousand oil barrels per day may now return to the market, if the Libyan crisis will end for real, balancing investors 'geopolitical risk'. OIL stopped declines at 38.2 Fibonacci retracement of the last upward wave, driven by Israel-Iran crisis, but the downward impulse is today very strong.
Source:Libya Today
October 08, 2024 14:55 UTC
AFCON 2025 qualifier: Super Eagles hold first training today ahead Libya clash
The Super Eagles will hold their first training session on Tuesday (today) ahead of the 2025 Africa Cup of Nations qualifying match against Libya. The session will hold at the practice pitch of the Godswill Akpabio International Stadium, Uyo at 5pm. Only two players, Stanley Nwabali and Amas Obasogie arrived at the team’s Four Points by Sheraton Hotel, Ikot Ekpene base on Monday. The Super Eagles will host the Mediterranean Knights of Libya at the Godswill Akpabio International Stadium, Uyo on Friday. AFCON 2025 qualifier: Super Eagles hold first training today ahead Libya clashDo you want to share a story with us?
Source:Libya Today
October 08, 2024 08:56 UTC
Injury-hit Libya may field home-based players against Super Eagles
The new players who play in Libya domestic league now take the places of the absent regular players in the battle of Uyo. A Libyan publication, Libya News 24 revealed part of the headache being experienced by the Mediterranean Knights’ coach, Nasser Al-Hadhiri. Coach Al-Hadhiri confirmed that three players from Al-Ahly Tripoli refused a call-up to the national team. A Libyan publication, Libya News 24 has revealed part of the headache being experienced by the Mediterranean Knights’ coach, Nasser Al-Hadhiri. Coach Al-Hadhiri has confirmed that three players from Al-Ahly Tripoli refused a call-up to the national team.
Source:Libya Today
October 08, 2024 04:05 UTC
German orders fall off a cliff
Copy LinkNew orders for German-made goods slumped in August, dragged down by a sharp drop in demand from within the Eurozone. Data released today by the Federal Statistical Office showed a 5.8% decrease in real manufacturing orders compared to July. This follows a surge in July which was driven by major contracts in the transport sector, including aircraft, ships and trains. While orders from outside the Eurozone provided a slight boost, increasing by 3.4%, this was offset by a significant 10.5% decline in orders from within the currency bloc. The figures paint a worrying picture for Europe’s largest economy, suggesting that the manufacturing sector is struggling with weak demand from its key trading partners.
Source:Libya Today
October 08, 2024 00:38 UTC
Preventing Bullying and Violence in the Workplace: 5 Strategies to Reduce Risk
November 6, 202242:00 PM ET / 1:00 PM CT / 11:00 AM PT / 7:00 PM GMTDuration: 1 hourSponsored by: J. J. Keller & Associates, Inc. SummaryDid you know that workplace violence is the third leading cause of occupational fatalities? The effects of workplace bullying and violence range from low morale to injuries or even death. Incidents of violence quickly become headline news. This webcast will cover five strategies to help reduce risk, including:Recognizing a hostile work environment Handling a bully at work Investigating workplace misconduct Identifying warning signs of workplace violence Terminating an employee safelyParticipating in this webcast will give you the guidance needed to help create and maintain a safer work environment for all.
Source:Libya Today
October 07, 2024 22:46 UTC
AFCON 2025Q: Libya Coach Targets Point Against Super Eagles
Nasser Al-Hadiri, the head coach of Libya, says his team would compete to get at least a point against the Nigerian Super Eagles. At the Godswill Akpabio International Stadium in Uyo on Friday, the Super Eagles will host the Mediterranean Knights in a 2025 Africa Cup of Nations qualification matchday three battle. Al-Hadiri stated that defeating the three-time African champions is a challenging assignment. Additionally, FirstBank Improves Online Experience Through A Redesigned E-Channel The gaffer claimed that they will battle hard to secure a draw from the encounter. With one point from their two games, the North Africans lie at the bottom of Group D.
Source:Libya Today
October 07, 2024 21:42 UTC
Akakus Oil completes drilling of Sharara Field development wells yielding 7,000 bpd
Libya’s state National Oil Corporation (NOC) reported today that its subsidiary Akakus Oil Operations has completed the drilling of two development wells (A41H and A44) in reservoir A – NC115 in the Sharara field, with a production capacity each of 3,500 barrels per day. It reported that the preliminary results showed in the two wells containing high-quality rock and reservoir characteristics, and they are expected to enter the production line in the near future.
Source:Libya Today
October 07, 2024 21:13 UTC
REVEALED: Video Shows Moment Akwa Ibom Electoral Body Declared PDP Winner Of Akpabio’s LG Despite Awarding Victory To APC
The Akwa Ibom Independent Electoral Commission had on Sunday declared APC candidate as the winner of Essien Udim LGA where the President of the Senate, Senator Godswill Akpabio, hails from. Essien Udim LGA is the only local government where APC had secured victory in the local government election in the state. But in a viral video online, the Akwa Ibom State Independent Electoral Commission (AKISIEC) actually declared PDP candidate as the winner at the polls. Enobong Patrick Friday, polled 55,612 votes to defeat the candidate of the APC, Ntiedo Usoro, who scored 686 votes in the election to emerged winner. He also received more than 25% of the votes in all 13 wards of Essien Udim.
Source:Libya Today
October 07, 2024 17:14 UTC
IGP Orders Unsealing Of Rivers Council Secretariats As Newly Elected Chairmen Assume Offices
The Inspector General of Police, Kayode Egbetokun, has ordered the immediate unsealing and withdrawal of policemen from 23 council secretariats in Rivers State. This is coming as the newly elected council Chairmen from last Saturday’s local government elections assume office today (Monday) across the state. IGP’s directive was contained in a statement by the Rivers Commissioner of Police, Bala Mustapha, on Monday morning following the outcome of council polls. “Consequently, the IGP has ordered the unsealing of the Local Government Secretariats, which were earlier secured by police personnel. “The Rivers State Police Command assures the public of its readiness to maintain peace and order across the state and will continue to act professionally in discharging its duties.
Source:Libya Today
October 07, 2024 13:14 UTC