Browsing: Business

The state budget proposed by the Government of National Unity, which is worth 111 billion Libyan Dinars ($24 billion), could increase inflation rate in Libya, said Musbah Akkary, a member of the Central Bank’s Exchange Rate Adjustment Committee.

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Chair of the Libyan National Oil Corporation (NOC), Mustafa Sanalla, confirmed the Corporation’s total dependence on the Libyan Foreign Bank (LFB) regarding sales of crude oil and imported fuels.
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The chairman of the National Oil Corporation (NOC), Mustafa Sanallah, discussed on Tuesday with the director of the Libyan branch of the Spanish oil company Repsol, Simone Sciamanna, the need to carry out the necessary maintenance work at thefacilities of Sharara oilfield, according to a statement released by the NOC on Wednesday.

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The Libyan Minister of Oil and Gas, Mohamed Oun, presented a brief information about the Oil and Gas Sector in Libya and its various activities, in his meeting via closed circuit, with officials of the USA – Middle East Policy Council (MEPC).
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The National Oil Corporation (NOC) confirmed Wednesday that the eruption of well D34A, which occurred on July 25, 2021, in the 103D field at Zueitina Oil Company, had been brought under control with the efforts and expertise of Libyan engineers and technicians, and the concerted efforts of those affiliated to NOC, the Zueitina Company and the operating and service companies.
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Tatneft is ready to resume oil production in Libya and company’s specialists are already working on this matter locally, CEO of the Russian oil producer Nail Maganov told reporters on Tuesday.

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The co-chairs of Libya’s Economic Working Group discussed with Prime Minister Abdul Hamid Dbeibeh, as well as representatives of the…

Mustafa Sanalla, the chairman of the National Oil Corporation (NOC), and Muhammad Bin Shatwan, the chairman of the operation committee of Mellitah Oil and Gas Company (MOG), held talks on Tuesday to discuss the financial challenges facing the NOC subsidiary due to delay in approving the state budget.

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Federation of Libyan Chambers of Commerce, Industry and Agriculture and its Emirati counterpart agreed to enhance trade cooperation and establish joint investment projects, according to the Libyan Ministry of Economy and Trade.
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Muhammad Al-Raidh, chairman of the Federation of Chambers of Commerce and Industry (FCCI), held talks with the Turkish Ambassador to Libya, Kanaan Yilmaz, to discuss ways to enhance trade and investment cooperation, according to a statement by the FCCI.

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