Oil prices were steady on Monday after hitting their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from one of the world’s top oil producers.
The General Electricity Company of Libya (GECOL) has warned the residents of the western town of Khoms to expect more hours of power cuts after the town’s power plant lost 400 megawatts due to low gas pressure.
Mohamed al-Menfi, chairman of Libya’s Presidential Council, held a meeting on Wednesday with Saddek Elkaber, the governor of the Central Bank of Libya (CBL), for discussion on the process of unifying the banks eastern and western branches.
Libya’s National Oil Corporation (NOC) and British Petroleum (BP) have agreed to resume exploration activities in line with a 2018 deal between the two companies and Italy’s ENI, the Libyan company said on Friday.
The state-owned Libyan National Oil Corporation (NOC) announced on Friday that the country’s daily oil production has dropped by 100,000 barrels per day due to its inability to maintain oil tanks damaged by armed conflicts.