Nigerian arrested in Libya for murder
A Nigerian man has been arrested in the Kufra District of Libya for the murder of another Nigerian. This was made known in a post by the Migrant Rescue Watch on their X account on Monday. The post disclosed that the accused, who was arrested following an investigation into an unidentified deceased person delivered to a hospital in Kufra, confessed to the crime, citing a personal dispute with the victim. The post read, “05.01.24 – Police, in response to a report of an unidentified deceased person delivered to hospital in Kufra, launched an investigation and arrested a Nigerian. “The accused, during interrogation admitted to killing the victim (also of Nigerian nationality) following a personal dispute.
Source:Libya Today
January 09, 2024 16:17 UTC
Oil prices firm on Middle East crisis and Libya outage
Oil prices rose on Tuesday as the Middle East crisis and a Libyan supply outage reduced the previous day's heavy losses. At their intra-day peaks both benchmarks were up by more than $2 a barrel but prices have since cooled. The Israeli military has said its fight against Hamas will continue through 2024, worrying markets that the conflict could grow into a regional crisis that could disrupt Middle Eastern oil supplies. Brent and WTI incurred 3 per cent and 4 per cent losses respectively on Monday after sharp cuts to Saudi Arabia's official selling prices (OSP), prompting both supply and demand concerns. Commerzbank analyst Carsten Fritsch added that the OSP cut "indicates a weakening of demand for oil in the three most important demand regions".
Source:Libya Today
January 09, 2024 16:15 UTC
Oil prices firm on Middle East crisis, Libya outage
Oil prices rose on Tuesday as the Middle East crisis and a Libyan supply outage reduced the previous day’s heavy losses. At their intra-day peaks both benchmarks were up by more than $2 a barrel but prices have since cooled. The Israeli military has said its fight against Hamas will continue through 2024, worrying markets that the conflict could grow into a regional crisis that could disrupt Middle Eastern oil supplies. Brent and WTI incurred 3 per cent and 4 per cent losses respectively on Monday after sharp cuts to Saudi Arabia’s official selling prices (OSP), prompting both supply and demand concerns. But Saudi Arabia on Tuesday emphasized its desire to support efforts aimed at stabilizing oil markets.
Source:Libya Today
January 09, 2024 16:11 UTC
Oil prices firm on Middle East crisis and Libya outage By Reuters
A view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel/file photoLCO +2.19% Add to/Remove from Watchlist CL +2.43% Add to/Remove from WatchlistBy Robert HarveyLONDON (Reuters) -Oil prices rose on Tuesday as the Middle East crisis and a Libyan supply outage reduced the previous day's heavy losses. At their intra-day peaks both benchmarks were up by more than $2 a barrel but prices have since cooled. Brent and WTI incurred 3% and 4% losses respectively on Monday after sharp cuts to Saudi Arabia's official selling prices (OSP), prompting both supply and demand concerns. Commerzbank (ETR: ) analyst Carsten Fritsch added that the OSP cut "indicates a weakening of demand for oil in the three most important demand regions".
Source:Libya Today
January 09, 2024 16:01 UTC
Oil prices rises $2 amid West Asia tensions, reduced Libyan output
Oil prices rose by more than $2 on Tuesday on tensions in the West Asia and reduced Libyan output, but were yet to fully recovered from steep losses earlier this week. Tensions in the West Asia and an ongoing supply outage in Libya offered support to prices on Tuesday, analysts said. Brent and WTI incurred 3% and 4% losses respectively on Monday, following sharp cuts by top exporter Saudi Arabia to its official selling prices (OSP), prompting both supply and demand concerns. But Saudi Arabia on Tuesday emphasised its keenness to support efforts aimed at stabilising oil markets. Commerzbank analyst Carsten Fritsch added that the OSP cut "indicates a weakening of demand for oil in the three most important demand regions."
Source:Libya Today
January 09, 2024 15:43 UTC
Earth shattered global heat record in ’23 and it’s flirting with warming limit, European agency says
Earth last year shattered global annual heat records, flirted with the world’s agreed-upon warming threshold and showed more signs of a feverish planet, the European climate agency said Tuesday. The European climate agency Copernicus said the year was 1.48 degrees Celsius (2.66 degrees Fahrenheit) above pre-industrial times. While that seems a small amount in global record-keeping, it’s an exceptionally large margin for the new record, Burgess said. Earth’s average temperature for 2023 was 14.98 degrees Celsius (58.96 degrees Fahrenheit), Copernicus calculated. And for the first time, every day of the year was at least one degree Celsius (1.8 degrees Fahrenheit) warmer than pre-industrial times.
Source:Libya Today
January 09, 2024 15:17 UTC
Dbeibeh government’s crisis of legitimacy hampers Libya’s oil revival
A recent report by Oil Price pointed to the continued impact of Libya’s political and security turmoil on the country’s oil sector. The forced closure of the giant Sharara oil field by protestors highlights the obstacles still facing the revival of Libya’s oil industry. The oil blockade also relates to an unresolved political crisis over the equitable distribution of oil revenue among Libya’s factions. Rival administrations headed by Dbeibeh and Prime Minister Osama Hammad have attempted maneuvers to redirect oil income, including replacing the NOC chairman. While progress was made in the gas sector, political instability severely constrains Libya realizing its oil output goals.
Source:Libya Today
January 09, 2024 14:47 UTC
Sahara bank converts itself into an Islamic bank
Sahara Bank announced yesterday that it had converted itself from a traditional (interest-charging) bank to an Islamic bank. The bank said that after years of preparations to realize this project, it is now ‘‘the first bank to obtain the license as an Islamic bank’’. It will be recalled that many other Libyan banks have Islamic Banking services, departments or branches – but have not converted themselves completely into an Islamic bank. Interest charging has been banned in Libya since 2012. Libyan Islamic Bank introduces country’s first e-instalment sale service (libyaherald.com)Libyan Islamic Bank and Dokkan sign e-payment agreement (libyaherald.com)Wahda bank offers Islamic banking loans for building materials, home furniture and cars (libyaherald.com)Hay Andalus Municipality and Jumhouria bank discuss Islamic loans for domestic solar systems | (libyaherald.com)North Africa bank offers Islamic Murabaha loan for household goods | (libyaherald.com)Jumhouria bank offers Murabaha Islamic banking loans for Hyundai cars | (libyaherald.com)Libya’s Jumhouria bank offers cars for sale on Islamic ‘‘Murabaha’’ basis | (libyaherald.com)CBL east’s Islamic banking conference postponed to 6-7 November | (libyaherald.com)CBL eastern branch organizing Islamic banking conference | (libyaherald.com)Jumhouria bank offers Murabaha Islamic banking loans for Hyundai cars | (libyaherald.com)CBL workshop with World Bank on introduction of Islamic banking into Libya | (libyaherald.com)CBL Islamic banking conference postponed to 29-30 March | (libyaherald.com)PPPs work well with Islamic banking – Adrian Creed of Clyde & Co. | (libyaherald.com)CBL Islamic banking conference 1-2 March | (libyaherald.com)CBL holds Islamic banking meeting with local bank heads | (libyaherald.com)The Central Bank and Islamic banking plans | (libyaherald.com)Employees want Islamic banking | (libyaherald.com)Islamic banking workshop at Central Bank | (libyaherald.com)
Source:Libya Today
January 09, 2024 13:44 UTC
Earth shattered global heat record in '23 and it's flirting with warming limit, European agency says
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Source:Libya Today
January 09, 2024 13:37 UTC
Looking back 2023: Demons, fraud and murder: A year of court stories
In a letter to President George Vella sent in April 2023, the Degiorgios requested a pardon in exchange for information about the involvement of a former cabinet minister in the murder. The waiting game: Yorgen Fenech’s impending trial looms large2024 will be a pivotal year for the case against Yorgen Fenech, the one in which he is expected to go on trial, accused of commissioning Caruana Galizia’s murder. The 26 individuals are requesting the court also order that Borg be investigated and charged with participating in an organised crime group. A Criminal Court judge then ordered that Camilleri be prosecuted for contempt of court. Three more men with links to the first group were arrested and charged with related offences in October.
Source:Libya Today
January 09, 2024 12:39 UTC
Turkey Visa Facilitation: Opening Doors for Global Explorers
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Source:Libya Today
January 09, 2024 08:57 UTC
MSS vigilant on radicalisation of youths despite low terror threat on Malta
Malta registered a low threat of terrorism in 2022, suggesting the island’s reputation for safety remains intact despite geopolitical tensions in nearby Mediterranean countries. Malta’s Security Service (MSS) said in its annual report for 2022 that while terror attacks in Malta are possible, evidence concerning capacity or presence of terror cells on the island suggest this was as yet improbable. The MSS said such unsophisticated terror attacks made them impervious to detection. “In the light of these new developments, Malta’s strategy against terror is being reviewed and updated in a bid to prevent similar acts. The MSS said in terms of terror threats, the main actors remain Islamic Jihadists, as well as far-right terrorists and similar anti-state actors.
Source:Libya Today
January 09, 2024 08:22 UTC
MOORE Executives to Explore Libya – Tunisia Trade Relations at Tripoli Economic Summit
Trade between Tunisia and Libya has seen a remarkable increase of 70% in 2023 compared to the previous year. Join Ashraf AMAMOU and Khalid Rekik from MOORE AR TUNISIA at the Libya Energy & Economic Summit scheduled for 13 – 14 January in Tripoli. The experts have compiled information on Libya and Tunisia trade and investment trends. The historic collaboration between Tunisia and Libya is flourishing, with a 70% surge in trade in 2023. Despite obstacles related to financing and guarantees for bank transfers, Tunisia can improve its economic position in Libya.
Source:Libya Today
January 09, 2024 08:11 UTC
Unrest In Libya Remains Major Obstacle To Higher Oil Production
So too might his comment that the NOC is also planning major bidding rounds for oil exploration blocks this year. Production had also been on a rising production trend at that point, up from about 1.4 million bpd in 2000. These closures removed a combined 370,000 bpd of oil out of Libya’s production. Eni currently produces gas in Libya from its Wafa and Bahr Essalam fields operated by Mellitah Oil & Gas, a joint venture between the Italian company and the NOC. “We are [also] in talks with TotalEnergies to invest more in Libya and increase production, and other companies of course,” he highlighted.
Source:Libya Today
January 08, 2024 16:03 UTC
Libya posts impressive oil revenue figures – Famagusta Gazette
Libya posts impressive oil revenue figuresThe Central Bank of Libya said Sunday that the country’s oil revenues in 2023 were 111.4 billion Libyan dinars (about 23.3 billion U.S. dollars). The central bank said of the total oil revenues, 99.1 billion dinars were oil sales and 12.3 billion dinars were oil royalties revenues. The country’s total public revenues in 2023 were 125.9 billion dinars, while expenditures were 125.7 billion dinars, it added. In 2022, the country’s revenues were 134.4 billion dinars, while expenditures were 127.9 billion dinars. Despite representing a major source of national revenues, Libya’s oil and gas sector has suffered over the past years from armed conflict as well as oil field and port closures.
Source:Libya Today
January 08, 2024 15:07 UTC