Oil rose to more than $83 a barrel on Tuesday, supported by tight supply and expectations that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand recovery, Reuters reported.
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Faisel Gergab, former CEO of the Libyan Post Telecommunications & Information Technology Company (LPTIC) was arrested yesterday in Tripoli.
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The Libyan government confirmed on Monday that production would resume at a number of oilfields which were recently shut down by a western faction of the Petroleum Facilities Guard (PFG).
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Production in the Libyan oilfields Wafa, El Feel, Sharara and Hamada would be restored after Prime Minister Abdul Hamid Dbeibeh met with representatives of a faction of the Petroleum Facilities Guard (PFG) which is active in the west of the country, Italian news agency Nova reports.
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Egypt plans to increase the capacity of its power grid interconnection with Libya to 2,000 MW, according to Minister of Electricity and Renewable Energy Mohamed Shaker.
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The Belgian judiciary wants the chairman of Libya’s sovereign wealth fund arrested on charges of corruption and embezzlement, Belgian magazine De Tijd reported.
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Libya’s daily oil production rose to 900,000 barrels, Oil Minister Mohamed Aoun told Libya 218 news.
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Libyan oil output is 729,000 barrels per day, the National Oil Corporation (NOC) media office said on Thursday, down from a high of more than 1.3 million bpd last year.
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Oil prices rose sharply on Thursday, extending a rally from the previous session, on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya, Reuters reported.
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The Central Bank of Libya (CBL) has published the government expenditures for 2021, which amounted to $24.5 billion (85.8 billion Libyan dinars), contradicting with the numbers published by the Government of National Unity (GNU), headed by Abdul Hamid Dbeibeh.
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