Browsing: Business

Siddiq al-Kabir, Governor of the Central Bank of Libya (CBL) hosted in his office on Sunday a rare meeting of the country’s top officials including Prime Minister Abdul Hamid Dbeibeh, Chairman of Presidential Council Mohamed al-Menfi, Chairman of High Council of State Khaled Al-Mishri, and Deputy Speaker of the House of Representatives Fawzi Al-Nuwairi.

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Libyan Prime Minister Abdul Hamid Dbeibeh held a meeting on Saturday with Finance Minister Khaled Al-Mabrouk to discuss a number of economic policies.

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Oil futures fell nearly one percent during the Asian session after jumping to their highest level since October 2014.
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The Deputy Governor of the Central Bank of Libya, Ali Al-Hibri, stated that 50% of the cash reserve has been spent since 2011 due to wars, political conflicts and the government deficit in the general budget.

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OPEC+ compliance with oil production cuts rose to about 122% in December, two sources from the producer group told Reuters, indicating that some members continue to struggle to raise their output.

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Oil slipped on Thursday as investors took profits following a month-long rally in prices, but strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014, Reuters reported.
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Libya plans to keep oil output at 1.2 million barrels per day (bpd) in 2022, Mustafa Sanalla, the chairman of the state-owned National Oil Corporation (NOC) told a news conference on Wednesday in Tripoli.

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Libyan Wings Airlines, a private airline company owned by Islamist Abdel Hakim Belhaj, has denied report of its bankruptcy, according to Libyan newspaper El-Enwan.

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The Social Security Fund has criticized an amended law issued by the House of Representatives, which it says “threatens the fate of the Fund and will drag it into bankruptcy.”

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Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, directed a letter to the Acting Head of the Audit Bureau, asking him to immediately stop addressing oil companies regarding the issue of prior control over their contracts.
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