The Governor of the Central Bank of Libya (CBL), Saddek Elkaber, renewed commitment to “international initiatives and practices to enhance the integrity and transparency of public spending,” according to a statement bank.
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Oil prices fell, during Thursday’s trading, after US data indicated weak demand for fuel.
The National Oil Corporation (NOC) and General Electricity Company of Libya (GECOL) have reviewed the challenges facing the latter in terms of supplying power grids with electricity.
The Prime Minister designated by Libya’s House of Representatives, Fathi Bashagha, has suspended the Minister of Water Resources, Mohamed Abdel Karim Doma, from office, Bashagha’s government announced on Friday.
The Ministry of Oil and Gas of the Government of National Unity has denied the reports relating to the alleged evacuation of the U.S. company Halliburton from the country.
Oil production in Libya reached over a million barrels per day after the reopening of the wells and export terminals, announced the Tripoli-based government on Thursday.
Oil rose more than $1 a barrel on Thursday, extending gains from the previous session, supported by improved risk appetite among investors, while falling crude inventories and reviving US gasoline demand supported prices.
The price of OPEC basket of thirteen crudes stood at US$109.35 a barrel on Tuesday, compared with US$106.27 the previous day, according to OPEC Secretariat calculations.
Brent crude futures for September settlement fell 67 cents, or 0.7 percent, to $102.53 a barrel, down for a fourth day.
Workers at Libyan oil and gas sector expressed their dissatisfaction and complete rejection of statements of US ambassador Richard Norland and UN advisor Stephanie Williams and “their blatant interference in the management of the oil sector in Libya,” pointing out that this is considered a violation of the state’s sovereignty and independence.