The Italian multinational energy company Eni and the Libyan National Oil Corporation (NOC) discussed the exploratory programs planned for 2024.
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Libyan Prime Minister Osama Hammad confirmed that the seizure of oil revenues came to stop wastage, and that oil money was placed under guard until the general budget is structured and arranged and the rights of all cities are fulfilled.
Libya’s Supreme Council for Energy Affairs, chaired by Prime Minister Abdul Hamid Dbeibeh, held a meeting on Monday to review the National Oil Corporation’s strategic plan to increase energy production and review efforts to activate the Ras Lanuf industrial complex, according to a statement by Dbeibeh’s media office.
Oil prices jumped more than 4% on Friday, rebounding from a four-month low hit in the previous session, according to Reuters.
The Libya Oil, Gas, and Renewable Energy Exhibition kicked off in Benghazi on Monday, marking its third edition held in…
A technical team from the Sirte Oil Company has managed to resume production from the C258H-6 well, which stopped since 2013 in the Zaltan field, located in the Libyan oil crescent close to the Gulf of Sidra, announced Libya’s National Oil Corporation (NOC).
Ahmed Abu Heisa, Libya’s Minister of Industry and Minerals, and Italian Ambassador to Libya, Gianluca Alberini, discussed on Sunday “the importance of strengthening economic cooperation between Italy and Libya and allowing the return of Italian companies to the North African country,” according to a statement by the Libyan Ministry of Industry.
Libya’s net revenue from the sale of crude oil, natural gas, condensates and petrochemicals exceeded $17 billion in the first ten months of 2023, the country’s state-owned National Oil Corporation (NOC) said in a statement on its official page on Facebook.
The Libyan dinar recovered some of its value in the black/parallel market against the major hard currencies Wednesday after steady losses over the last week. One popular exchange site quoted a low of LD 6.27 Tuesday, before recovering to LD 5.61 to the dollar Wednesday.
Prime Minister Abdul Hamid Dbeibeh is considering plans to scrap fossil fuel subsidy in attempt to stop smuggling.