Libya: National Oil Corporation announces plan to drill 121 new wells
La National Oil Corporation (Noc), Libya's state hydrocarbon body, today announced a plan to drill 121 new wells to explore and exploit natural oil and gas resources in 2024. The Noc is carrying out various projects to increase oil production in the OPEC oil cartel member country from the current 1,250 million barrels per day to 1,4 million barrels per day by the end of 2024, and then rise to 2 million barrels starting in 2025. Last week, a subsidiary of Noc – Al Waha Oil Company – managed to increase its production by 40 thousand barrels per day, from October 2022. The country, in fact, imported around 14,5 million tonnes of crude oil, down by 3,3 percent compared to the same period of 2023. As regards gas, at these rates the overall annual production would be around 13 million cubic metres.
Source:Libya Today
June 11, 2024 15:29 UTC
Libya: delays in oil sector salaries for May and June
The Tripoli-based Government of National Unity (GUN) has transferred May salaries for various sectors, including the oil sector, to the Central Bank of Libya. Furthermore, there were 4,4 billion Libyan dinars (approximately 836 million euros) in outstanding financial deals for the National Oil Corporation and 2,5 billion Libyan dinars (approximately 475 million euros) for the General Electricity Company. The taxes collected amounted to 121 million Libyan dinars (around 23 million euros). Customs revenue was 123 million Libyan dinars (around 23,4 million euros), communications revenue was 11 million Libyan dinars (around 2 million euros) and revenue from the sale of fuel in the local market totaled 32 million Libyan dinars (approximately 6,1 million euros). Other revenues, which include refunds, passport taxes, car tax, fines and other taxes, reached 639 million Libyan dinars (around 121,4 million euros).
Source:Libya Today
June 11, 2024 09:10 UTC
The unseen enemy: organised crime networks exploiting Malta’s geography
Malta’s attractiveness to tourists makes it a target for organised crime groups (OCGs), particularly those focusing on theft and scams. “Organised crime groups target tourism-heavy areas,” Bondin said. They exploit opportunities.”Crime goes where there’s opportunity and valuablesApart from tourist-targeted crimes, many organised crime groups in Malta tend to engage in theft. There have been improvements, but I think we can do better to fight organised crime at a national level,” he said. Ultimately, both officers stressed the importance of international cooperation in combating organised crime.
Source:Libya Today
June 11, 2024 08:48 UTC
'Jesus Christ Be With Me': The Courageous Story Behind the 21 Coptic Martyrs of Libya
On this deeply moving episode of "The Catholic Talk Show," Ryan Scheel, Ryan DellaCrosse, and Father Matt King discuss the incredible courage of the 21 Coptic Martyrs of Libya with "Son Of The 11th Hour" film director Raouf Zaki. The 21 Coptic Martyrs of Libya were a group of simple laborers, mostly in their twenties, who traveled to Libya to support their families back in Egypt. Zaki says "The pope canonized them because their last words were 'Jesus Christ be with me.’”What gave these young men the strength to refuse to renounce their faith? Zaki tells how one of the martyrs, a farmer, would "sing the Psalms late at night, even in captivity, inspiring others despite the torture." Watch below 👇21 Coptic Martyrs of Libya, pray for us!
Source:Libya Today
June 11, 2024 00:19 UTC
Rescue charity finds another body off Libya
A day earlier, Doctors Without Borders had recovered the bodies 11 migrants from the Mediterranean Sea in the same region. The rescue ship claimed to have saved over 160 people. Sea Watch, a non-profit organization, announced on the social media platform X on Saturday that their plane had spotted a corpse. MSF's Geo Barents rescue and search vessel rescued 146 migrants over two missions and found another 20 on a separate boat. Italy has also tightened up on rescue ship operations, saying that they encourage people to go to Europe.
Source:Libya Today
June 10, 2024 21:39 UTC
Libyan Post signs deal with Italian counterpart to modernize services
Libya's Telecommunications Holding Company has announced the signing of an agreement between Libyan Post and its Italian counterpart to enhance Libyan postal services. The announcement was made during a visit by a Libyan delegation led by the Chairman of the Telecommunications Holding Company to the Italian Post headquarters. The delegation included members of the Holding Company's board of directors and the Chairman of the Board of Libyan Post. The agreement, aimed at developing postal and logistical services as well as digital financial services, also focuses on building capacities and training human resources at Libyan Post. Several meetings, workshops, and discussions took place during the visit, attended by the commercial and economic attaché at the Italian Embassy in Libya.
Source:Libya Observer
June 10, 2024 20:52 UTC
Pretrial detention for top former Labour Ministry officials in LD 1.347 million fraud
The Attorney General’s Office reported today that Prosecutors have order the detention of former officials responsible for managing administrative and financial affairs, the treasury, the financial department, and the financial control department at the Ministry of Labour.Investigating the seizure of public funds deposited in the account of the Ministry of Labour at the Central Bank of Libya, the investigator inferred that the accused caused serious damage to its funds as a result of behaviour incompatible with their job duties. This was represented in the defendant’s access to bank instruments in which financial values were recorded and ordered to be paid as financial dues to one of the Ministry’s female employees, deliberately falsified the data of the instruments, and then presenting them to the branch of the Jumhouria Bank – Mizdah and seizing LD 1.347 million. As a result, the investigator detained the defendants, pending investigation, and ordered the seizure and bringing of the beneficiary of the seized money.
Source:Libya Today
June 10, 2024 18:16 UTC
Libya: the spread of polio is feared in Kufra due to the presence of tens of thousands of displaced Sudanese
However, adds Al Atiya, "there is a concern about the possible spread of infectious diseases such as polio, which was eradicated in Libya in the 1990s". The IOM estimates that around 130.000 Sudanese are currently in Libya, of which around 30 arrived after the start of the conflict in Sudan. The majority of Sudanese migrants interviewed by aid agencies reported arriving directly from Sudan (88 percent), with a minority passing through Chad (9 percent) or Egypt (2 percent). Currently there is no real control of the borders between Libya, Sudan, Chad and Niger, nor a security body that really monitors the situation. Not only that: there are indications that some Libyan security agencies are allowing migrants to pass towards northern Libya, upon payment.
Source:Libya Today
June 10, 2024 13:02 UTC
Libya aims to produce 2 million barrels of oil per day by 2025
Bengdara explained that the increase in production will occur gradually, according to the approved timetable. He also highlighted that the National Oil Corporation, in collaboration with the Ministry of Oil and Gas, is working to bring international oil companies back to operate in Libya by contributing to production expansion projects and plans. Noc is carrying out various projects to increase oil production in the country that is a member of the OPEC oil cartel from the current 1,2 million barrels per day to 1,4 million barrels per day by the end of 2024, and then rise to 2 million barrels during 2025. Last week, a subsidiary of Noc – Al Waha Oil Company – managed to increase its production by 3 barrels per day, from October 220. The country, in fact, imported around 14,5 million tonnes of crude oil, down by 3,3 percent compared to the same period in 2023.
Source:Libya Today
June 10, 2024 08:26 UTC
Libya seeks to increase daily oil production
TRIPOLI, June 9 (Xinhua) -- Libyan Prime Minister Abdul-Hamed Dbeibah on Sunday emphasized the importance of consolidating the efforts of all government institutions to enhance oil production. The prime minister made the remarks in a meeting with Farhat Bengdara, chairman of the Libyan National Oil Corporation (NOC), according to a statement by the Libyan government. To bolster oil production, Dbeibah also issued instructions to support the Libyan private oil sector and to "increase the efficiency of Libyan workers," the statement added. During the meeting, Bengdara confirmed that NOC has set a goal to increase production to 2 million barrels per day by the end of next year. As of Sunday, its daily oil production stands at 1,250,775 barrels, according to the company.
Source:Libya Today
June 09, 2024 22:14 UTC
Minister of Industry and Minerals invites businessmen and investors in Morocco to visit Libya
Libya’s Tripoli based Ministry of Industry and Minerals announced today that its Minister, Ahmed Abuhisa, invited businessmen and investors in Morocco to visit Libya. The invitation was extended during Minister Abuhisa’s meeting with his Moroccan counterpart, Riad Al-Mazour, in the Moroccan capital, Rabat, to discuss the prospects for industrial cooperation between the two countries. The meeting was held on the sidelines of the twenty-eighth session of the General Assembly of the Arab Industrial Development Organization “IDESMO”. Libya’s promising investment opportunities in the industry and minerals sectorsDuring the meeting, Minister Abuhisa invited businessmen and investors from Morocco to visit Libya to see the promising investment opportunities in the industry and minerals sectors. He stressed the importance of cooperation between the two countries to achieve sustainable economic development and exchange experiences and modern technologies.
Source:Libya Today
June 09, 2024 18:00 UTC
LAIP’s Ola Energy opens two new petrol stations in Tunisia
The Libya Africa Investment Portfolio (LAIP) announced today that its Ola Energy petrol stations subsidiary, one of its largest subsidiaries, inaugurated on Thursday, 6 May, two new fuel stations in Tunisia. The petrol stations are located on the Sfax motorway inthe Aqrab area at the 252 km point. LAIP revealed that each of the petrol stations was built on an area of more than 20,000 square meters to provide all the necessary services for road users.The opening of the two Aqrab stations, LAIP said, is part of Ola Energy’s plan to expand its services, with four additional stations in Tunisia under construction.It will be recalled that LAIP had rebranded its ”Oil Libya” petrol stations to ”Ola Energy” petrol stations. It said its Ola Energy subsidiary is ‘‘Africa’s leading energy retailer’’. LAIP’s OLA Energy achieves ‘‘record profits’’ (libyaherald.com)LAIP’s Prime Atlantic Hotel in Banjul, Gambia reopened after completion of initial renovation (libyaherald.com)Libyan-Turkish-American agreement to build bitumen factory in Libya (libyaherald.com)
Source:Libya Today
June 09, 2024 17:37 UTC
Akakus Oil drills 10 and maintains 18 wells to increase production by 24,000 bpd
Akakus Oil Operations Company announced today that, since September 2023, it has drilled 10 vertical and horizontal wells using the latest technologies such as Performance Drilling as well as Geosphere. This has reduced the drilling period by 20%, it explained. During this period, Akakus added, maintenance work was also carried out on 18 wells, drilled wells were completed, catching, stimulation and other maintenance work was conducted. The production capacity of these wells reached about 24,921 barrels per day.This activity, Akakus said, comes as part of the National Oil Corporation’s (NOC) plan to increase oil production. Separately, the NOC chairman reiterated today that he plans to increase oil production from the current 1.2 million bpd to 2 million bpd by the end of 2025.
Source:Libya Today
June 09, 2024 16:54 UTC
Bahrain’s Al Salam Bank to provide Islamic banking consultancy and training to Sahara bank
Bahrain’s Al Salam Bank is to provide Islamic banking consultancy and training to Libya’s Sahara bank; it was revealed yesterday. The revelation came after Sahara Bank’s Acting Director General received, on Monday 3 June, at Sahara bank’s Tripoli headquarters representatives of the Al Salam Bank. During the meeting, the two sides discussed ways of cooperation between the banks in light of the transformation of Sahara Bank to an Islamic bank (announced on 8 January 2024). The meeting discussed cooperation plans that will be implemented soon, which aim to provide consultations in the field of Islamic banking and provide training programmes for the Sahara bank’s employees in this field.They also discussed the agreements to be signed between the two banks, and the two sides agreed to adopt Al Salam Bank as a direct correspondent bank for Sahara Bank in Bahrain. Sahara bank converts itself into an Islamic bank (libyaherald.com)Sahara Bank Accounts Manager detained for embezzlement, pending trial (libyaherald.com)Six Sahary Bank officials jailed for defrauding the bank of LD 1.5 million (libyaherald.com)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
June 09, 2024 16:40 UTC