LibyaBusiness.tv News - February 2013

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LibyaBusiness.tv News - February 2013
Released:  04/02/20132013-02-04
Length:  5.00

Welcome to the latest edition of Libya Business TV News, in this edition:

Alstom to Supply EUR250 Million Gas Turbines Equipment in Libya
French power equipment and train manufacturer Alstom SA (ALO.FR) Monday said it signed a contract to supply equipments for 11 gas turbines to Libya's power utility General Electricity Company of Libya, or GECOL The 11 turbines were originally provided by Alstom to five different power plant locations. - The delivery of parts for major inspections on six turbines is scheduled for 2013, whereas the remaining parts for the five turbines will be delivered in 2014. - These contracts support GECOL's objectives to have all the company's gas power plants operational and re-connected to the Libyan electrical grid, in order to provide enough power to cover the peak summer and winter demands for 2013.



Libya looks to strengthen relations with US: Zidan
Libyan Prime Minister Ali Zidan has said country wants to strengthen ties with the United States, the Libya Herald said on Tuesday, quoting a government website, after Zidan’s meeting with US Undersecretary of Defense for Intelligence Michael G. Vickers It said Vikers, who was accompanied by new US Chargé d’Affaires William Roebuck in Libya, held talks with Zidan on Monday on a brief visit to Libya. Roebuck took up his post last Friday. Foreign Affairs Minister-designate and Minister of International Cooperation Mohamed Abdulaziz said Libya was looking for American help in tracking down money looted by the Qaddafi regime. It was also keen on acquiring American border protection technology.

Row at Libyan Businessmen’s Council forum
The Libyan Businessmen Council’s forum in Tripoli on Tuesday entitled the Economic Forum between the Business Sector and the GNC and Government – The Role of the Financial Sector in Raising the Libyan Economic Sector provided not exactly the type of dialogue between officials and businessmen that the organisers had planned, as the Libya Herald reported. The meeting, of over 200 people, proved to be a very heated affair as the business community queued up to express their frustrations at the slow pace of economic reform.

Benghazi aspires to become Libya’s business capital
Unlike the capital Tripoli, Benghazi, Libya’s second-biggest city, has few modern high-rise developments. Construction of the $300 million Three Towers project, which will include two smaller blocks housing luxury apartments and a hotel, was delayed due to the uprising against former dictator Moammar Gadhafi, which began here nearly two years ago. The project is now due for completion in 2015 and is being promoted in Benghazi’s bid to regain its former status as the country’s business capital. Many Benghazians, however, are calling for the country’s new constitution – due to be drafted in coming months – to give the city powers to manage its own affairs and a share of the eastern region’s resources.

Events
The Hull & Humber Chamber of Commerce Business Mission
The Hull & Humber Chamber of Commerce are running a UKTI Supported trade mission to Libya from 17th to 21st March 2013 for UK registered companies. Immediate priority sectors for Libya, are: Education and Skills, Healthcare, Oil and gas and the supply chain Infrastructure Security Finance Legal The mission is open to any UK registered company who meets the required criteria for participation. Companies from the Yorkshire & Humber region that meet the criteria are eligible to a UKTI grant of £325 per company. Companies from other UK Regions may also qualify for a grant. To register your interest and to receive further details, draft programme and estimated costs contact Alison Burnett at a.burnett@hull-humber-chamber.co.uk . Tel: 01482 324976.44

North Africa Gas Summit
CWC is pleased to announce the launch of the North Africa Gas Summit which will uncover the opportunities for unleashing the full potential of the North African gas industry. The Summit will have a key focus on the region’s major suppliers—Algeria, Egypt, and Libya—while evaluating the prospects and drivers for gas project development alongside in-depth discussions on the domestic and regional markets. Secure your involvement early and ensure you are at the must-attend event for gas decision makers and investors in North Africa. 24 - 26 June 2013 Rome- Italy For speaker opportunities please contact Hannah Lawrence on: Tel: +44 207 978 0341 Email: hlawrence@thecwcgroup.com Special Offer For Libya Business TV members!

LibyaBusinessGuide.tv
As a valued user of our Libya Business TV website, we are very pleased to give you something back – access to the unique and comprehensive website “Libya Business Guide.TV” for the reduced price of just £199 for 12months, instead of the normal price £658!

Comments:

We are major/Direct providers of Fresh Cut BG, SBLC, POF, MTN, Bonds and CDs and this financial instruments are specifically for lease and sale.We are one of the leading Financial instrument providers with offices all over Europe. we always deliver on time and precision as Set forth in the agreement. You are at liberty to engage our leased facilities into trade programs, project financing, Credit line enhancement, Corporate Loans (Business Start-up Loans or Business Expansion Loans), Equipment Procurement Loans (Industrial Equipment, Air crafts, Ships, etc.) as well as other financial instruments issued from AAA Rated bank such as HSBC Bank Hong Kong, HSBC Bank London, Deutsche Bank AG Frankfurt, Barclays Bank , Standard Chartered Bank and others on lease at the lowest available rates depending on the face value of the instrument needed, Our Terms and Conditions are reasonable.

DESCRIPTION OF INSTRUMENTS: 1. Instrument: Bank Guarantee (BG)/SBLC (Appendix A) 2. Total Face Value: 10M MIN to 50B MAX USD or Euro 3. Issuing Bank: HSBC, Deutsche Bank Frankfurt, UBS or any Top 25 . 4. Age: One Year, One Day 5. Leasing Price: 4+ 1% 6. Sale Price: 32+2% 7. Delivery by SWIFT . 8. Payment: MT103-23 9. Hard Copy: Bonded Courier within 7 banking days.

If you have need for Corporate loans, International project funding, etc. or if you have a client that requires funding for his project or business, We are also affiliated with lenders who specialize on funding against financial instruments, such as BG, SBLC, POF or MTN, we fund 100% of the face value of the financial instrument. Inquiries from agents/ brokers/ intermediaries are also welcomed; do get back to us if you are interested in any of our services and for quality service. Name : Speeckaert Bernard. E-mail : speeckjulesbern@gmail.com Skype id : speeckbern47

speeckwell
1 month ago

Hello Did you have a profitable project that requires capital investment or a loan for his contribution? Now no more worries, you had the solution you need to achieve your project whatever the field of activity in which it is located. We are here to accompany you in your projects, our goal is to make available funding for your projects or the development of your business. Our investment is between 500,000 $USD up to $USD25.000.000 and more. A single address, contact us at the following address: investorsproject.world@gmail.com

investorsproject.world@gmail.com
2 months ago

Are you an individual businessman or a business organisation that wishes to expand in business ??, we offer financial instrument such as BGs, SBLCs,MTNs, LCs, CDs and others on lease and sales at a rate of 4%+2% of the face value and reasonable conditionfrom a genuine provider. You are at liberty to engage our leased facilities into trade programs as well as in signatory project(s) such as Aviation, Agriculture, Petroleum, Telecommunication and any other project(s) etc. With our financial/bank instrument you can establish line of credit with your bank and/or secure loan for your projects in which our bank instrument will serve collateral in your bank to fund your project. We deliver with time and precision as set forth in the agreement. Our terms and Conditions are reasonable and we work directly with issuing bank lease providers, this instrument can be monetized on your behalf for upto 100% funding. Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved. All relevant business information will be provided upon request.

BROKERS ARE WELCOME & 100% PROTECTED!!! If Interested kindly contact me via Email:~ inquiry.firstchoice@gmail.com Skype ID:contact.firstchoice

serious enquiry only.

Genuine Provider for BG/SBLC(Bank Guarantee/Standby Letter of Credit)

Bernard
3 months ago

Dear Sir/Ma,

We are direct provider for BG/SBLC specifically for lease, at leasing price of (3.0 + 0.5 + X)% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA.

Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding : For further details contact us with the below information.

Contact : Mr. Richard Rana Das Email: leasemandate.richdas@gmail.com Skype ID: leasemandate.richdas

Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

Regard, Richard Rana Das

Anonymous
3 months ago

As a Finance and Investment Company who is a Premier Provider of Trade Finance, Project Finance & Funding; We also offer discountable Bank Instruments at rates being as low as Two Percent (2%) of the required BG | SBLC | DLC | LC | PB | MTN | Bank Drafts Face Value.

We offer basically a wide range of Financial Instruments including; - Standby Letters of Credit - Bank Guarantees - Deferred / Documentary Letters of Credit - Red Clause Letters of Credit - Usance Letters of Credit - Performance Guarantees - Demand Guarantees - POF messages - Pre Advice Message - Comfort Letters - Ready Willing and Able (RWA) messages; and we are able to complete a transaction within 48 to 72 hours depending on the requirement of the Lessee / Buyer Side.

Should you have an interest in the Lease and Sale of these, kindly inform and we will be glad to share with you our PROCEDURAL TERMS in regards to setting things in motion for an IMPENDING TRANSACTION. Upon the acceptance of your party to work with the Lessor's Terms, we would have Legal Contract in place for the transaction to be set up between the Applicant and the Beneficiary and the delivery of the Bank Instrument will be in accordance with the Verbiage (Text) chosen by the Beneficiary's Bank.

Kindly contact to register your interest and receive further information via Email and/or Skype

Rudolf Gerben Zijlma Contact Email: rgz.leasebrokerage@gmail.com Skype ID: rgz.leasebrokerage

Anonymous
3 months ago

Dear Sir/Ma, We are direct provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 2)% of face value, Issuance by HSBC Bank London , Barclays Bank London , Deutsche Bank, BNP Paribas, & AAA Rated Banks in Europe, Middle East or USA.

Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100%

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago

Dear Sir/Ma, We are direct provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 2)% of face value, Issuance by HSBC Bank London , Barclays Bank London , Deutsche Bank, BNP Paribas, & AAA Rated Banks in Europe, Middle East or USA.

Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100%

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago

Dear Sir/Ma, We are direct provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 2)% of face value, Issuance by HSBC Bank London , Barclays Bank London , Deutsche Bank, BNP Paribas, & AAA Rated Banks in Europe, Middle East or USA.

Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100%

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago



Dear Sir/Ma

We offer bank instruments on lease but not direct funding. These bank instruments can be in the form of Bank Guarantee (BG) or Standby Letter of Credit (SBLC) as well as PBs, LCs, DLC et al. Our bank instruments can be monetized with a Lender or Funding or can be used as a Collateral for Loans as well as for all kinds of Trade, Commodity trading and others.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! If Interested kindly contact me via Email:~ Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago



Dear Sir/Ma

We offer bank instruments on lease but not direct funding. These bank instruments can be in the form of Bank Guarantee (BG) or Standby Letter of Credit (SBLC) as well as PBs, LCs, DLC et al. Our bank instruments can be monetized with a Lender or Funding or can be used as a Collateral for Loans as well as for all kinds of Trade, Commodity trading and others.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! If Interested kindly contact me via Email:~ Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago



Dear Sir/Ma

We offer bank instruments on lease but not direct funding. These bank instruments can be in the form of Bank Guarantee (BG) or Standby Letter of Credit (SBLC) as well as PBs, LCs, DLC et al. Our bank instruments can be monetized with a Lender or Funding or can be used as a Collateral for Loans as well as for all kinds of Trade, Commodity trading and others.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! If Interested kindly contact me via Email:~ Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago



Dear Sir/Ma

We offer bank instruments on lease but not direct funding. These bank instruments can be in the form of Bank Guarantee (BG) or Standby Letter of Credit (SBLC) as well as PBs, LCs, DLC et al. Our bank instruments can be monetized with a Lender or Funding or can be used as a Collateral for Loans as well as for all kinds of Trade, Commodity trading and others.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! If Interested kindly contact me via Email:~ Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago



Dear Sir/Ma

We offer bank instruments on lease but not direct funding. These bank instruments can be in the form of Bank Guarantee (BG) or Standby Letter of Credit (SBLC) as well as PBs, LCs, DLC et al. Our bank instruments can be monetized with a Lender or Funding or can be used as a Collateral for Loans as well as for all kinds of Trade, Commodity trading and others.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! If Interested kindly contact me via Email:~ Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago



Dear Sir/Ma

We offer bank instruments on lease but not direct funding. These bank instruments can be in the form of Bank Guarantee (BG) or Standby Letter of Credit (SBLC) as well as PBs, LCs, DLC et al. Our bank instruments can be monetized with a Lender or Funding or can be used as a Collateral for Loans as well as for all kinds of Trade, Commodity trading and others.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will be glad to share with you our working procedures. BROKERS ARE WELCOME & 100% PROTECTED!!! If Interested kindly contact me via Email:~ Contact: ... bgsblc.syed@gmail.com Skype ID: bgsblc.syed

syed serajul
6 months ago

Dear Partner

We have a direct genuine provider for BG/SBLC specifically for lease,at leasing price of 3% + 0.5%+X% of face value,Issuance by HSBC London/Hong Kong or any other Bank in Europe,Middle East or USA.

Mr Ronald Rajnesh Gounder Email:grounesh.advisory1@gmail.com Skype:grounesh.advisory

All inquires to Mr. Mr Ronald Rajnesh Gounder should include the following minimum information so I can quickly address your needs:

Complete contact information: What exactly do you need? How long do you need it for? Are you a principal borrower or a broker? Email me for procedure and terms.

Mr Ronald Rajnesh Gounder
7 months ago

Dear Sir/ Ma,

I am a mandate to an Investment Company who is a premier provider of trade finance and project finance instruments as well as discountable bank instruments;

We are specialist in providing Genuine Bank Guarantees, Standby Letter of Credit, Pre Advice / RWA Messages, Documentary Letters of Credit, Bank Draft, Proof of Funds, Performance Bond, Medium Term Notes, and various SWIFT messaging services on lease and sale. We issue these instruments from prime banks, secondary banks, and financial institutions; and transmit SWIFT MT 760, MT 799, MT199, MT999 and other messages on behalf of our clients.

We offer certifiable and verifiable bank instruments via Swift Transmission from a genuine provider capable of taking up time bound transactions. We are RWA ready to close leasing with any interested client in few banking days

Kindly contact for genuine inquiries and I can provider you with the needed information.

Contact : Mr. Marco Licani Email : Marco.lease@gmail.com Skype ID: Marco Licani1

Marco Licani
8 months ago

As a Finance and Investment Company who is a Premier Provider of Trade Finance, Project Finance & Funding; We also offer discountable Bank Instruments at rates being as low as Two Percent (2%) of the required BG | SBLC | DLC | LC | PB | MTN | Bank Drafts Face Value.

We offer basically a wide range of Financial Instruments including; - Standby Letters of Credit - Bank Guarantees - Deferred / Documentary Letters of Credit - Red Clause Letters of Credit - Usance Letters of Credit - Performance Guarantees - Demand Guarantees - POF messages - Pre Advice Message - Comfort Letters - Ready Willing and Able (RWA) messages; and we are able to complete a transaction within 48 to 72 hours depending on the requirement of the Lessee / Buyer Side.

Should you have an interest in the Lease and Sale of these, kindly inform and we will be glad to share with you our PROCEDURAL TERMS in regards to setting things in motion for an IMPENDING TRANSACTION. Upon the acceptance of your party to work with the Lessor's Terms, we would have Legal Contract in place for the transaction to be set up between the Applicant and the Beneficiary and the delivery of the Bank Instrument will be in accordance with the Verbiage (Text) chosen by the Beneficiary's Bank.

Kindly contact to register your interest and receive further information via Email and/or Skype

Marco Licani
8 months ago

Dear Partner,

Who we are and what we do...

We are UK based Financial Services company, we write to introduce our company as financial and investment brokers. Our company can assist you in seeing opportunities, securing project and investment loan funding, bank instruments (Bank Guarantee (BG), Standby Letter of Credit (SBLC)) to aid you secure funds appropriately from any global AAA+ rated banks or top investment house to fund your projects from mid- range to massive projects any where in the world.

Our area of specialisation focuses more on helping our clients with securing investment loan and leasing bank instrument (BG or SBLC) from AAA+ rated banks.

Contact us today if you have projects that require funding from 1M - 5B and we will be more than glad to advise and work with you. Mr Ronald Rajnesh Gounder Email: grounesh.advisory1@gmail.com Skype ID: grounesh.advisory

Mr Ronald Rajnesh Gounder
8 months ago

Dear Sir/Madam,

I write to introduce our financial services to you. I am a direct mandate to a Financial Institution who is also known as private lender specialized in the Lease and Sales of Bank / Financial Instruments in the form of Bank Guarantees (BG), Standby Letter of Credit (SBLC), Documentary Letter of Credit (DLC), Letter of Credit (LC), Performance Bonds (PB), Medium Term Notes (MTN) et al with funds is purely earned from private and corporate investment portfolios without criminal origin.

We offer these from a genuine and certifiable finance company as the provider hence we are able finance your signatory projects and help you enhance your business plan. Furthermore, our financial instrument can be used for the purchase of goods from any manufacturer irrespective of their location. It can also serve as collateral with any bank in the world to secure loans for your project or to activate credit line to finance your business plan.

Our financial instrument can be invested into High Yield Investment Trading Program {HYITP) or Private Placement Program (PPP). All bank instruments are for lease and/or sale from a genuine and reliable source without broker chain / joker broker story or chauffer driven offer while having your required time frame in mind.

We specialized in Bank Guarantee {BG}, Standby Letter of Credit {SBLC}, Medium Term Notes {MTN}, Confirmable Bank Draft {CBD} as well as other financial instruments issued from AAA Rated bank such as HSBC Bank Hong Kong, HSBC Bank London, Deutsche Bank AG Frankfurt, Barclays Bank , Standard Chartered Bank and others on lease at the lowest available rates depending on the face value of the instrument needed.

We will be glad to share our working procedures with you upon request to help us proceed towards closing deals effectively.If Interested kindly contact me via Email:~

Contact : Chainarong Orachorn Email: Orachain.Advisory@gmail.com Skype ID: OrachaIN.Advisory

Anonymous
9 months ago

We are a provider of banking instruments (BG/SBLC) for lease who is ready, willing and able to deliver. Our bank instrument can be used in all forms of projects funding,collateral to seek loan from different banks of choice and can be used to engage into PPP trading.

Contact Person: Mr. Elliot Pearson Email: info.financialassuranceltd@gmail.com Skype ID: finance.solutions

JARED
11 months ago

We have a direct genuine provider for BG/ SBLC specifically for lease, at leasing price of 5+1% of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA

DESCRIPTION OF INSTRUMENTS:

1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A) 2. Total Face Value: Euro/USD 1M MIN and Euro/USD 5B MAX 3. Issuing Bank: HSBC London, Deutsche Bank Frankfurt or Any Top AA rated Bank 4. Age: One Year, One Day 5. Leasing Price: 5% of Face Value plus 0.5% commission fees to brokers. 6. Delivery: SWIFT TO SWIFT. 7. Payment: MT-103. 8. Hard Copy: Bonded Courier within 7 banking days. All relevant business information will be provided upon request.

If Interested kindly contact me via Email:~ sperblease@gmail.com Skype ID: sperblease

Alexander Sperber
2 yearss ago

Dear Sir/Ma,

We have direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease. Our bank instrument can be engaged in PPP Trading, Discounting, Signature Project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, Construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker chain in our offer neither do we get involved in chauffer driven offers. We deliver with time and precision as set forth in our agreement. Our terms and Conditions are reasonable, below is our instrument description.

DESCRIPTION OF INSTRUMENTS: 1. Instrument: Bank Guarantee (BG/SBLC) 2. Total Face Value: Min of 1M Euro/USD (One Million Euro/USD) to Max of 5B Euro/USD (Five Billion Euro/USD). 3. Issuing Bank: HSBC, London or Deutsche Bank Frankfurt or 4. Age: One Year, One Day 5. Leasing Price: 5.0% of Face Value plus (0.5+X)% commission fees to brokers. 6. Delivery: Bank to Bank SWIFT. 7. Payment: MT-103. 8. Hard Copy: Bonded Courier within 7 banking days.

All relevant business information will be provided upon request.

Thank you. Gomez Richard Contact: gomezfinance75@gmail.com Skype ID: gomezfinance75

Richard
2 yearss ago

Dear Sir/Ma,

We have direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease. Our bank instrument can be engaged in PPP Trading, Discounting, Signature Project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, Construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker chain in our offer neither do we get involved in chauffer driven offers. We deliver with time and precision as set forth in our agreement. Our terms and Conditions are reasonable, below is our instrument description.

DESCRIPTION OF INSTRUMENTS: 1. Instrument: Bank Guarantee (BG/SBLC) 2. Total Face Value: Min of 1M Euro/USD (One Million Euro/USD) to Max of 5B Euro/USD (Five Billion Euro/USD). 3. Issuing Bank: HSBC, London or Deutsche Bank Frankfurt or 4. Age: One Year, One Day 5. Leasing Price: 5.0% of Face Value plus (0.5+X)% commission fees to brokers. 6. Delivery: Bank to Bank SWIFT. 7. Payment: MT-103. 8. Hard Copy: Bonded Courier within 7 banking days.

All relevant business information will be provided upon request.

Thank you. Gomez Richard Contact: gomezfinance75@gmail.com Skype ID: gomezfinance75

Richard
2 yearss ago

Dear Sir/Ma,

We have direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease. Our bank instrument can be engaged in PPP Trading, Discounting, Signature Project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, Construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker chain in our offer neither do we get involved in chauffer driven offers. We deliver with time and precision as set forth in our agreement. Our terms and Conditions are reasonable, below is our instrument description.

DESCRIPTION OF INSTRUMENTS: 1. Instrument: Bank Guarantee (BG/SBLC) 2. Total Face Value: Min of 1M Euro/USD (One Million Euro/USD) to Max of 5B Euro/USD (Five Billion Euro/USD). 3. Issuing Bank: HSBC, London or Deutsche Bank Frankfurt or 4. Age: One Year, One Day 5. Leasing Price: 5.0% of Face Value plus (0.5+X)% commission fees to brokers. 6. Delivery: Bank to Bank SWIFT. 7. Payment: MT-103. 8. Hard Copy: Bonded Courier within 7 banking days.

All relevant business information will be provided upon request.

If Interested kindly contact me via Email:~ Maxie.finance@gmail.com Skype ID: maxil.finance

Maxie Saviel
2 yearss ago

Dear Sir/Ma,

Financial Instrument for Lease and Sales

I represent a financial institution that provide financial instrument basically for lease or sale. We adhere to a prompt and quick delivery of any financial instrument for your choice instruments, BANK GUARANTEE MT760,SBLC MT760,MT103 Financial upon your interest indication. We have the below instrument for lease or for sale. we can also provide instruments below the stated amounts.

1) BANK GUARANTEE (BG) issued by UBS AG Switzerland with face value of 30 billion Euros. 2) STANDBY LETTER OF CREDIT issued by INDUSTRIAL AND COMMERCIAL BANK OF CHINA with face value of SBLC 50 Billion USD. 3) STANDBY LETTER OF CREDIT issued by BNP PARIBAS FRANCE, BARCLAY'S BANK PLC, HSBC BANK PLC,DEUTCHE AG AND JP MORGAN CHASE BANK with face value of SBLC 40 Billion USD.

The above instruments are ready for outright lease out or sell off.So the leasing fee for any of the instrument is outright 5% and commission agents gets 2% While for an outright purchase of any of the above instrument is from 43% to 45% and the commission agents remains 2% Therefore, the attorney has resolved to offer you 2% as agent commission for any client that purchases or leases from your side. So therefore,you should source for urgent and potential clients that will need financial instruments of the three (3) above categories i.e MT760 BG . MT760 SBLC and MT103 2ways.. Futher information's will be divulged upon your reply.

Thank you. Mr.Kevin smith Financial Consultant Company Name :kevin smith London - United Kingdom Email: ks679938@gmail.com

Anonymous
2 yearss ago

We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS

Skype: Kangheeil64 Email: Kangheeil64@gmail.com

Regards Kang

Kang
2 yearss ago

We can deliver fresh cut lease banking instrument(BG/SBLC/LC/DLC/MTN) to you in accordance to our working procedures which serves as collateral at affordable prices, which will enable you get loan form your bank so as to embark on your projects(Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Bridges, Other Turnkey Project etc.) you have at hand and our BG can be used in ppp trading.

I will email you our working terms and condition upon request.

Contact : Mr Paul Wung Email: paulwung.mandate@gmail.com Skype ID: paulwung.mandate

Paul
2 yearss ago

NEED BANK INSTRUMENTS TO FUND YOUR PROJECTS ? BG/SBLC/MTN FOR LEASE

Dear Sir/Ma,

I can deliver leased instruments to Organisations or individuals with their preferred text verbiage as been approved by their bankers. We also offer sales option to interested buyers. Our terms and procedures are so flexible and workable by RWA clients. Our lease rate is (5)%+x%. X% IS Lessee broker's Commission and he determines his commission. Also we have facilities to discount BG and Put you into PPP Trading.

Contact me through this email:(financialservices009@gmail.com, financialservices009@yahoo.com, financialservices009@hotmail.com, bobbiesmith001@gmail.com) or through skype: (robert.herrera53) in other to furnish you with other information.

Regards Robert Herrera

Robert Herrera
3 yearss ago

We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS

Regards Maxie Saviel Contact: Maxie.finance@gmail.com Skype ID: maxil.finance

Maxie Saviel
3 yearss ago

We arrange Following Bank Instruments Letter of Credit ( LC) From Various Banks in Singapore / HongKong / Europe /USA Used For Import / Export Business and Trade Finance . 90/180DAYS Bank Guarantee ( BG ) Fresh Cut Slightly Seasoned Seasoned Stand By Letter of Credit ( SBLC ) 90DAYS / 180/ 365DAYS

Regards Maxie Saviel Contact: Maxie.finance@gmail.com Skype ID: maxil.finance

Maxie Saviel
3 yearss ago

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4 yearss ago

Business News

Business News
Released:  23/06/20172017-06-23
Word count:  295

Libya is pumping the most oil in four years after a deal with Wintershall AG enabled at least two fields to resume production, adding to the challenge that OPEC and allied producers face in trying to pare global crude inventories.

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Bloomberg
The North African country is currently producing 902,000 barrels a day, an official at the state National Oil Corp. said Tuesday, asking not to be identified for lack of authority to speak to media. Output has risen on the resumption of fields developed with Wintershall and from a boost at Sharara, Libya’s biggest deposit, which is pumping 270,000 barrels a day, another person familiar with the situation said Monday.

The politically divided country is pumping at its highest level since June 2013, when production reached 1.13 million barrels a day, data compiled by Bloomberg show. The increase adds to the challenge that the Organization of Petroleum Exporting Countries and other major producers face after agreeing in May to extend their output-cuts deal to counter a supply glut and slippage in prices.

Libya, like Nigeria, is exempted from the cuts deal.

The NOC and Germany-based Wintershall agreed last week to restart production in some areas, allowing for crude to flow again from the Agkhara deposit, the NOC said in a June 15 statement. Libya’s Sarah oil field also resumed output last week as a result of the deal, another person familiar with the situation said at the time. An earlier dispute with Wintershall had halted 160,000 barrels a day in output, the NOC said on May 31 in a statement.

Libya produced about 700,000 barrels a day at the end of April, Jadalla Alaokali, an NOC board member, said at the time. The country plans to pump 1 million barrels a day by the end of July, the company’s chairman, Mustafa Sanalla, said last week.

Libya is restoring output and exports after descending into lawlessness following a 2011 revolt against former leader Moammar Al Qaddafi. The country, with Africa’s largest crude reserves, was pumping about 1.6 million barrels a day before the uprising.

Comments:

Contract News

Contract News Business News
Released:  23/06/20172017-06-23
Word count:  160

Ocean Installer has been awarded a subsea, umbilicals, risers and flowlines project on the Al Jurf oil field in the Mediterranean. The client is Mabruk Oil Operations, a joint venture between Total E&P and the national oil corporation of Libya.

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Osjonline
The work scope encompasses the replacement of a 10in flexible flowline between a fixed drilling and production platform and the Farwha floating, production, storage and offloading unit.

“We are very happy with this award and the opportunity to continue to develop our solid working relationship with Total E&P, or as in this case a Total E&P joint venture, further. The award also strengthens our foothold in the Mediterranean, proving our strategy of continued geographical expansion is successful,” said Steinar Riise, chief executive of Ocean Installer.

The project will be managed from Ocean Installer’s Stavanger and Aberdeen offices in co-operation with Mabruk Oil Operations. Onshore engineering will commence with immediate effect. Mobilisation and offshore operations are scheduled for the third and fourth quarters of 2017 using the vessel Normand Vision.

The Al Jurf oil field came on stream in 2003 and is located about 150km northwest off the coast of Tripoli, Libya, in a water depth of approximately 80-90m.
Comments:

Oil & Gas News

Oil & Gas News
Released:  23/06/20172017-06-23
Word count:  202

Oil edged up on Friday, recovering slightly from steep falls earlier in the week, but is set for the worst performing first-half in two decades despite ongoing production cuts.

Play
Reuters
Brent crude futures were at $45.31 per barrel at 0222 GMT, up 9 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 10 cents, or 0.2 percent, at $42.84 per barrel.

Oil prices have fallen about 20 percent this year despite an effort led by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by 1.8 million barrels per day (bpd) that has been in place since January.

That's the worst first-half performance for crude oil since 1997, when rising output and the Asian financial crisis led to sharp price falls.

The weak markets are a result of doubts over OPEC's ability to rein in a fuel supply overhang that has dogged markets since 2014 as production has largely outpaced consumption.

"Markets remain sceptical of OPEC's ability to balance supplies," ANZ bank said on Friday.

At the heart of the glut is that rising production levels from the traditional suppliers of OPEC and Russia have been met by soaring output from the United States.

Thanks largely to shale drillers, U.S. oil production has risen by more than 10 percent over the last year to 9.35 million bpd, close to levels of top exporter Saudi Arabia.

(Reporting by Henning Gloystein; Editing by Richard Pullin)
Comments:

Business News

Business News
Released:  22/06/20172017-06-22
Word count:  111

The first regular flight ferrying Arabian Gulf Oil Company (AGOCO)workers from Benina airport to the Messla oil field took off today, as Benghazi’s repaired and re-equipped airport cranks up its services.

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Libya herald
Until now Benina has mainly seen the departure of Umrah flights to Saudi Arabia.

AGOCO’s chairman Mohamed Ben Shatwan went to Benina with some of his managers to see off the Boeing 737. This is the first time in three years that the company has been able to use the airport.

Earlier this month AGOCO announced it was returning to Benina for personnel movements. Today the company said it would be running three regular flights a week.

The Civil Aviation Authority has yet to sign off on the resumption of scheduled passenger flights but Benina is already handling air ambulance, VIP and cargo movements, which include the delivery of humanitarian aid.  
Comments:

Business News

Business News
Released:  21/06/20172017-06-21
Word count:  196

The National Oil Corporation (NOC) has announced production has passed 900,000 barrels a day. The state oil company looks set to meet million barrels a day target by the end of August set by its chairman Mustafa Sanalla.

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Libya herald
The boost to NOC’s output has been underpinned by the temporary deal it made with German company Wintershall, which brought 160,000 bpd back into production. Though the row over changes to the Kassel-based BASF subsidiary’s favourable production sharing contracts continues, Sanalla persuaded the Germans to accept a temporary deal under which they will cover their costs.

Sanalla meanwhile is continuing his campaign to woo back foreign oilcos. He has just seen Fadel Hareeb the local chief of Norway’s Statoil which has a minority stake in the Sharara field. NOC said they talked about boosting production. However, it is clear that Sanalla is concerned not simply with the operational challenges of raising output but also with ensuring that the local communities associated with the field believe they have a vested interest in allowing production to continue uninterrupted.

The NOC chief is continuing his personal engagement which for instance in April saw him broker agreement with local elders to protect the reopened Sharara and El-Fil fields from further blockades. In recent days Sanalla has flown to at least five different oil fields to check for himself the state of the infrastructure and the relations with locals.  
Comments:

Oil & Gas News

Oil & Gas News
Released:  21/06/20172017-06-21
Word count:  365

Oil prices dipped on Wednesday, trading around multi-month lows as investors discounted evidence of strong compliance by OPEC and non-OPEC oil producers with a deal to cut global output.

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Reuters
Global benchmark Brent LCOc1 was down 11 cents, or 0.2 percent, at $45.91 barrel at 0345 GMT after falling nearly 2 percent in the previous session to its lowest settlement since November.

U.S. crude futures CLc1 for August were trading down 8 cents, or 0.2 percent, at $43.43, after a more than 2 percent decline to the lowest since September on Tuesday.

Compliance with an agreement by the Organization of the Petroleum Exporting Countries and other producers to cut output by 1.8 million barrels per day (bpd) for six months from January reached its highest in May since curbs were agreed last year.

"The lack of a positive response in oil prices clearly suggests market participants are not convinced that the OPEC's efforts will help shore up prices in a meaningful way in the short-term as shale supply continues to rise in the U.S.," said Fawad Razaqzada, market analyst at futures brokerage Forex.com.

"Unless we see a marked reduction in crude stockpiles, the possibility of further short term falls in the price of oil cannot be ruled out," he added.

The American Petroleum Institute said on Tuesday U.S. crude stockpiles had dropped more than forecast. U.S. crude stocks fell last week, while gasoline and distillate inventories rose.

A government report is due at 10:30 a.m. EDT (1430 GMT) on Wednesday and the official figures often differ sharply from those of the industry group.

OPEC and non-OPEC oil producers' compliance with the output deal reached 106 percent in May, a source familiar with the matter said on Tuesday.

OPEC compliance with the output curbs in May was 108 percent, while non-OPEC compliance was 100 percent, the source said. Another source confirmed compliance by all producers in May was 106 percent.

While compliance is high, it is what went on before the production cut that counts, BMI Research said in a note.

"A number of producers - notably Iraq, Saudi Arabia and Russia - aggressively ramped up output in the run up to the deal, fast-tracking projects, expanding drilling programs and deploying spare capacity," BMI said.

Thus the production cut is not costless and "should prices relapse again, OPEC has much less in its arsenal with which to respond."

(Reporting by Aaron Sheldrick; Editing by Richard Pullin)
Comments:

Business News

Business News
Released:  20/06/20172017-06-20
Word count:  77

The Libyan Foreign Bank (LFB) has announced that a Tunisian court has ruled in its favour in the case brought against it by Tunisian company LMS for US$ 108.7 million.

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Libya herald
LMS had claimed in a Tunisian court that LFB had owed it payment for fuel shipments during the Libyan 2011 revolution and convinced the Court of First Instance to freeze all the accounts of the LFB in Tunisia.

However, LFB appealed and convinced the court of appeal that LMS had in fact failed to deliver all the fuel shipments agreed upon and as a result the appeal court lifted its freeze on the LFB’s accounts this Wednesday.  
Comments:

Oil & Gas News

Oil & Gas News
Released:  20/06/20172017-06-20
Word count:  310

Oil markets held around seven-month lows on Tuesday as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support prices.

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Reuters
Brent futures were up 4 cents at $46.95 at 0214 GMT. On Monday, they fell 46 cents, or 1 percent, to settle at $46.91 a barrel.

That was their lowest since Nov. 29, the day before the Organization of the Petroleum Exporting Countries (OPEC) and other producers agreed to cut output for six months from January.

U.S. West Texas Intermediate crude futures were down 1 cent at $44.19 a barrel. They declined 54 cents, or 1.2 percent in the previous session, to settle at $44.20 per barrel, the lowest close since Nov. 14. The July contract will expire on Tuesday and August will become the front-month.

Both benchmarks are down around 15 percent since late May, when OPEC, Russia and other producers extended by nine months the cut in output by 1.8 million barrels per day (bpd).

"Recent data points are not encouraging," Morgan Stanley said in a research note. "Identifiable oil inventories - both crude and product in the OECD, China and selected other non-OECD countries - increased at a rate of (about) 1 (million bpd) in 1Q."

OPEC supplies jumped in May as output recovered in Libya and Nigeria, two countries exempt from the production cut agreement.

Libya's oil production has risen more than 50,000 bpd after the state oil company settled a dispute with Germany's Wintershall, a Libyan source told Reuters.

Analysts said rising U.S. crude production has fed the global glut. Data on Friday showed a record 22nd consecutive week of increases in U.S. oil rig numbers.

Still, Saudi Energy Minister Khalid al-Falih remained confident OPEC's cuts were working. The oil market is heading in the right direction but still needs time to rebalance, al-Falih told the London-based newspaper Asharq al-Awsat.

"In my opinion, market fundamentals are going in the right direction, but in light of the large surplus in stockpiles over the past years, the cut needs time to take effect."

(Reporting by Aaron Sheldrick; Editing by Joseph Radford)
Comments:

Business News

Business News
Released:  19/06/20172017-06-19
Word count:  168

Libya oil production is on course to hit one million barrels per day (b/d) by the end of July, National Oil Corporation chairman Mustafa Sanalla has told the British ambassador, Peter Millett.

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Libya herald
This would the first time such a figure had been reached since 2013 and Sanalla cited his employee’s work ethic as the main reason.

However, Sanalla noted the NOC faced repeated attempts to disrupt and block production. He said he could not understand why people doing did not not realise how important Libya’s key asset, oil, was to the country’s stability and prosperity.

Smuggling, depletion of state resources and the fallout from the Qatar crisis were also discussed.

Referring to a number of trips recently to Libyan oilfields, Sanalla also spoke about the need to improve safety for oil workers, protection of the environmental and helping boost local communities.

Sanalla also hosted the Turkish Ambassador, Ahmet Dogan, who invited the NOC chief to the World Petroleum Council Congress to be held in Turkey next month.

Despite the Turkish embassy having reopened its Tripoli base, Turkish oil companies have not so far resumed operations. Dogan said he hoped Libya would stabilse soon so the companies could return.
Comments:

Oil & Gas News

Oil & Gas News
Released:  19/06/20172017-06-19
Word count:  364

Oil prices fell early on Monday, weighed down by high supplies despite an OPEC-led initiative to cut production to tighten the market.

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Reuters
Signs of faltering demand stoked weak sentiment, prompting price levels comparable to when the output cuts were first announced late last year.

Brent crude futures LCOc1 were down 11 cents, or 0.23 percent, at $47.26 per barrel at 0035 GMT.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 11 cents, or 0.25 percent, at $44.63 per barrel.

Prices for both benchmarks are down by almost 13 percent since late May, when producers led by the Organization of the Petroleum Exporting Countries (OPEC) extended their pledge to cut production by 1.8 million barrels per day (bpd) by an extra nine months until the end of the first quarter of 2018.

Traders said that the main factor driving the low prices was a steady rise in U.S. production undermining the OPEC-led effort to tighten the market.

"The U.S. oil rig count continued to rise, up by 6 last week ... Since its trough on May 27, 2016, producers have added 431 oil rigs," Goldman Sachs said late on Friday.

The U.S. bank said that if the rig count stayed at current levels, U.S. oil production would increase by 770,000 barrels per day between the fourth quarter of last year and the same quarter this year in the shale oil fields of the Permian, Eagle Ford, Bakken and Niobrara.

Supplies from within OPEC and other countries officially participating in the cuts, like Russia, also remain high as some countries have not fully complied with their pledges.

There are also indicators that demand growth in Asia, the world's biggest oil consuming region, is stalling.

Japan's customs-cleared crude oil imports fell 13.5 percent in May from the same month a year earlier, to 2.83 million barrels per day, the Ministry of Finance said on Monday.

India, which recently overtook Japan as Asia's second biggest oil importer, saw May's demand for oil fall by 4.2 percent in May, compared with the same month last year

In China, which is challenging the United States as the world's biggest importer, oil demand growth has been slowing for some time, albeit from record levels, and analysts expect growth to slow further in coming months.

"Reducing the glut of oil will be challenging," ANZ bank said on Monday.

(Reporting by Henning Gloystein; Editing by Joseph Radford)
Comments:

Oil & Gas News

Oil & Gas News
Released:  16/06/20172017-06-16
Word count:  284

Oil prices dipped early on Friday and were not far off six-months lows as an ongoing supply overhang weighed on markets despite an OPEC-led effort to cut production and prop up prices.

Play
Reuters
Brent crude futures LCOc1 were down 6 cents, or 0.1 percent, at $46.86 per barrel at 0045 GMT.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 8 cents, or 0.2 percent, at $44.38 per barrel.

Prices for both benchmarks are down by more than 13 percent since late May, when producers led by the Organization of the Petroleum Exporting Countries (OPEC) extended a pledge to cut production by 1.8 million barrels per day (bpd) by an extra nine months until the end of the first quarter of 2018.

The price falls are due to ongoing high supplies despite the pledge to cut from within OPEC, and also because of rising output from the United States.

"Oil production in the U.S. was ... higher (and) oil tanker tracker data also suggests OPEC shipments remain strong," ANZ bank said. High exports and production from other countries, including Russia and the United States, are also contributing to the ongoing glut.

Top producer Russia, not an OPEC-member but participating in the deal, is expected to export 61.2 million tonnes of oil in the third quarter (around 5 million bpd), against 60.5 million tonnes in the second quarter, via pipelines, according to industry sources and Reuters calculations.

Add in Russia's tanker shipments and its total exports are likely above 9 million bpd.

In the United States, which is not participating in any deal to hold back production, oil output C-OUT-T-EIA has risen over 10 percent over the past year to 9.3 million bpd, and the Energy Information Administration (EIA) expects that figure to rise above 10 million bpd in 2018.

In a sign of the ongoing supply overhang, traders are increasingly hiring tankers again to store unsold crude, waiting to sell later at a higher price.

(Reporting by Henning Gloystein; Editing by Richard Pullin)
Comments:

Business News

Business News
Released:  16/06/20172017-06-16
Word count:  200

The chairman of the Libyan Council for Oil and Gas (LCOG), Khaled Ben Othman expects that Libya’s oil production will surpass the one-million-barrel mark by the end of the year. The NOC confirmed yesterday that production is currently at 830,000 bpd. The LCOG represents the Libyan private sector in the hydrocarbon sector.

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Libya herald
Ben Othman said that he expects that the temporary agreement reached between the NOC and Wintershall yesterday (for fields NC 96 & 97) would add between 85-90,000 barrels per day in the short term. Moreover, he added that the opening of the Abitifel and Nafoura fields (103A) yesterday and today would soon boost production to 930-950,000 bpd.

Ben Othman warmly welcomed the NOC-Wintershall agreement which he revealed he and the LCOG had been working hard on in the background over the last few months – liaising and mediating between all parties to achieve. He revealed that there was goodwill on all sides to reach the agreement as a win-win for all.

The LCOG chairman explained that Wintershall will be entitled to between 85-90,000 bpd as a result of the agreement in order to ‘‘cover its costs’’ with the balance going to the NOC. Meanwhile, both parties will continue to negotiate on a long term deal within the ‘‘2010 EPSA-4 framework’’, Ben Othman explained.

Post the Qaddafi era, and with the onset of stability and peace in Libya, Ben Othman looked forward to a much fairer and greatly increased role for local Libyan companies in the development and maintenance of the Libyan oil and gas sector.

Comments:

Business News

Business News
Released:  15/06/20172017-06-15
Word count:  267

The EU is to give another €5 million ($5.62 million) to the Stabilisation Facility for Libya (SFL) to improve basic public services, its ambassador Bettina Muscheidt announced today in Tripoli. She made the announcement following a meeting of the SFL’s board today in Tripoli’s Corinthia Hotel.

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Libya herald
The SFL, which is co-chaired by the Presidency Council’s Ministry of Planning and the UN Deputy Special Representative in her capacity as head of the UNDP in Libya, was launched in April last year and aims to rehabilitate crucial infrastructure at local level.

The focus is on areas of the country damaged as a result of fighting either during the revolution or since – specifically Benghazi, Kikla, Obari, Sebha and Sirte.

Last year just over $32 million was donated, including a first €5 million from the EU. This has been used to fund a number of projects, such as new ambulances for Sirte’s Ibn Sina hospital, two ambulances and a garbage truck for Obari, solar panels and generators for hospitals, computers for schools, municipal internet services.

Muscheidt told reporters that “Libya’s people cannot wait. Families across the country are in dire need of services. They want a return of normality”.

“This is where the Stabilisation Facility can make a difference in helping the Libyan government to improve lives and alleviate the suffering in areas most affected by the conflict across regions of Libya. The priority is to facilitate the return of public services,” she added.

The SFL’s target is $60 million, of which half is supposed to come from the government of national unity (GNA) and half from foreign donors.

Attending today’s board meeting were ambassadors from a number of donors including those of France, Italy, South Korea and the UK as well the EU’s Muscheidt and the PC’s Planning Minister Taher Al-Juhaimi. So far, nothing is reported to have come from the GNA.
Comments:

Oil & Gas News

Oil & Gas News
Released:  15/06/20172017-06-15
Word count:  313

Oil prices wallowed near their lowest levels in seven months early on Thursday, hurt by high global inventories and doubts over OPEC's ability to implement production cuts.

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Reuters
Brent crude futures were at $47.01 per barrel at 0222 GMT, virtually steady after slumping nearly 4 percent in the previous session. U.S. West Texas Intermediate (WTI) crude futures were at $44.70 per barrel, also little changed from their last close.

Both benchmarks are hovering near levels last reached in late November last year when production cuts led by the Petroleum Exporting Countries (OPEC) were first announced in an effort to prop up prices.

"For OPEC, an oversupply headache became a migraine," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore.

Brent and WTI are down some 12 percent since their opens on May 25, when the agreement to cut was extended to the end of the first quarter next year, instead of expiring this month as initially planned.

"OPEC 2017 year-to-date exports are only down by 0.3 million barrels per day (bpd) from the October 2016 baseline," analysts at AB Bernstein said in a note to clients.

OPEC's pledge was to cut some 1.2 million bpd, while other producers including Russia would bring the total reduction to almost 1.8 million bpd.

However, some OPEC members including Nigeria and Libya have been exempt from cutting, and their rising output undermines efforts led by Saudi Arabia.

Meanwhile, production in the United States - which is not participating in the deal - has jumped by more than 10 percent over the past year to 9.33 million bpd.

"Production growth in Libya and Nigeria and continued rig additions in U.S. are complicating the picture, raising doubts on OPEC's strategy. For OECD inventories to return to the normalized levels, OPEC needs to drain by 34 million barrels a month or 1 million barrels for the next 10 months. This looks challenging," AB Bernstein said.

The International Energy Agency (IEA) said this week that oil supplies next year would still outpace demand despite consumption hitting 100 million bpd for the first time.

(Reporting by Henning Gloystein; Editing by Richard Pullin)
Comments:

Oil & Gas News

Oil & Gas News
Released:  14/06/20172017-06-14
Word count:  386

Oil prices fell on Wednesday after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back on output.

Play
Reuters
Brent crude futures LCOc1 were at $48.41 per barrel at 0652 GMT, down 31 cents, or 0.6 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $46.10 per barrel, down 36 cents, or 0.8 percent.

Crude prices have fallen by more than 10 percent since late May, pulled down by an supply glut that persists despite a move led by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by almost 1.8 million barrels per day (bpd) until the end of the first quarter of 2018.

OPEC's own compliance with the cuts has been questioned, and the producer group said in a report this week that its output rose by 336,000 bpd in May to 32.14 million bpd.

ANZ bank said in a note to clients that prices were "under pressure earlier in the day after a report from OPEC showed that its production had increased."

Adding to the supply surplus is rising U.S. production from shale drillers that has pushed U.S. output up by 10 percent over the last year to 9.3 million bpd, not far below levels by top exporter Saudi Arabia. C-OUT-T-EIA

"The outlook for oil hinges on the effectiveness of the OPEC cuts relative to the supply increases from U.S. shale," said William O'Loughlin, analyst at Australia's Rivkin Securities.

Data from the American Petroleum Institute showed on Tuesday that U.S. crude stocks rose by 2.8 million barrels in the week to June 9 to 511.4 million, compared with expectations for a decrease of 2.7 million barrels. [API/S] With supplies plentiful, strong demand is needed to support the market, but there are signs of a slowdown.

Global energy demand grew by 1 percent in 2016, a rate similar to the previous two years but well below the 10-year average of 1.8 percent, BP (BP.L) said in its benchmark Statistical Review of World Energy on Tuesday.

More specifically for oil, there are signs of a slowdown in China, long the key component of fuel demand growth, as its economy slows. The nation's refiners have produced too much fuel for it to consume, forcing a drop-off in activity.

"Chinese demand is slow ... so we have a build-up of crude in Asia where demand seems to have slowed for now," said Oystein Berentsen, managing director for oil trading company Strong Petroleum.

(Reporting by Henning Gloystein; Editing by Tom Hogue and Christian Schmollinger)  
Comments:

Business News

Business News
Released:  14/06/20172017-06-14
Word count:  345

Libya's National Oil Corporation (NOC) and German oil firm Wintershall have agreed an interim deal to resume production, a step forward in a contract dispute that was blocking up to 160,000 barrels per day.

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Reuters
NOC said on Tuesday the arrangement would allow an immediate resumption of production at Wintershall's NC 96 and NC 97 concession areas in eastern Libya, as well as connected fields where production has been blocked. A Wintershall spokesman confirmed the agreement.

NOC Chairman Mustafa Sanalla told Reuters by phone from the oilfields on Tuesday that some wells at one of the affected fields, Abu Attifel, had already begun operating and production should resume there by Wednesday.

Abu Attifel is operated by Mellitah, a joint venture between the NOC and Italy's ENI and has been closed since July 2015. Sanalla said he could see gas flares being relit as he was driving to the field with local officials.

"Everybody is happy. We are all celebrating," he said.

Sanalla said the NOC was targeting an increase in national production to one million barrels per day (bpd) by the end of July from 830,000 bpd now. He said Abu Attifel alone should rapidly be able to produce 50,000-60,000 bpd.

Libya's output remains well below the 1.6 million barrels a day it was producing before the 2011 uprising. Armed conflict, political disputes and local blockades have made production levels highly volatile since then.

The dispute with Wintershall had caused a rift between the NOC and the U.N.-backed government in Tripoli. The NOC accused the government of siding with the German company and trying to appropriate powers over oil sector contracts in the process.

The NOC said Wintershall had failed to honour a 2010 memorandum of understanding to convert its concessions to EPSA IV terms, or the standard NOC contract that governs deals with international oil companies in Libya.

Wintershall had said its concession deals with Libya were still valid.

The NOC said in a statement that the agreement announced on Tuesday, "allocates to Wintershall an amount of production sufficient to cover its costs, with all remaining production being allocated to NOC".

"It also provides that during this interim arrangement, the parties will attempt to resolve their dispute regarding the legal framework governing the petroleum operations."

(Additional reporting by Patricia Weiss; editing by David Clarke)  
Comments:

Business News

Business News
Released:  14/06/20172017-06-14
Word count:  113

The Beida-based Central Bank of Libya (CBL) has begun distributing in east LD337 million of a new consignment of Russian printed dinars, which its counterpart in Tripoli last year agreed to accept as a legitimate currency.

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Libya herald
According to the Beida institution, the Jumhouria Bank has received LD96 million, Wahda LD91 million, Commercial LD75 million, North Africa LD31 million, Sahara LD25 million, Trade and Development LD10 million and the Mediterranean and Ejmaa Alarabi banks LD4 million each. It is unclear where the remaining LD1 million went.

The Beida CBL gave no details of when this latest tranche of “Russian” dinars arrived. The first shipment of these notes (LD200 million) was delivered to Labraq Airport in May last year.

There have since been at least three further consignments amounting to LD1.6 billion. When the new note was first announced, the Beida CBL said it was ordering a total of LD4 billion.
Comments:

Oil & Gas News

Oil & Gas News
Released:  13/06/20172017-06-13
Word count:  375

Oil prices edged up early on Tuesday, lifted by statements that OPEC-leader Saudi Arabia was making significant supply cuts to customers, although rising U.S. output meant that markets remain well supplied.

Play
Reuters
Brent crude futures LCOc1 were at $48.42 per barrel at 0044 GMT, up 13 cents, or 0.3 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $46.21 per barrel, also up 13 cents, or 0.3 percent.

Saudi Arabia, the world's top oil exporter, is leading an effort by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by almost 1.8 million barrels per day (bpd) until the end of the first quarter of 2018 in order to prop up prices. Other countries, including top producer Russia, are also participating.

During the first half of the year, there were doubts over OPEC's compliance with its own pledges, as supplies, especially to Asia, remained high. Saudi officials now say they are making real cuts, including 300,000 bpd to Asia for July, although several Asian refiners said they were still receiving their full allocations.

"Crude oil prices rose on the back of further supportive talk from Saudi Arabia. Energy Minister Khalid Al-Falih said that inventories are declining and reductions will accelerate in the next three week," ANZ bank said.

Although other OPEC members, like Libya and Nigeria, are exempt from the cuts, and there have been doubts over the compliance of others, including Iraq, the club's supplies have been falling since the cut's start in January.

Trade data shows that OPEC shipments to customers averaged around 26 million bpd in the last six months of 2016, while they are set to average around 25.3 million bpd in the first half of this year.

Threatening to undermine OPEC's efforts to tighten the market is a relentless rise in U.S. drilling activity RIG-OL-USA-BHI, which has driven up U.S. output C-OUT-T-EIA by more than 10 percent since mid-2016, to over 9.3 million bpd.

The U.S. Energy Information Administration (EIA) says production will rise above 10 million bpd by next year, challenging top exporter Saudi Arabia.

Overall, oil markets remain well supplied.

A sign of ample supplies is the Brent forward curve <0#LCO:>, which is in a shape known as contango, in which crude for delivery in half a year's time is around $1.50 per barrel more expensive than that for immediate dispatch, making it profitable to charter tankers and store fuel instead of selling it for direct use.

(Reporting by Henning Gloystein; Editing by Richard Pullin)
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Business News

Business News
Released:  13/06/20172017-06-13
Word count:  117

Libya Telecom (LT) says it is suppling and installing combined radio navigation systems known as VOR/DME, initially to Mitiga, Benina, Tobruk and Labraq airports.

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Libya herald
VOR/DME is a combined radio navigation station for aircraft, which consists of two radio beacons, placed together, a VHF omnidirectional range (VOR) and distance measuring equipment (DME). VOR produces an angle between the station and the receiver in the aircraft, while DME does the same for range.

LT said that it will give training in the use and maintenance of the equipment in a programme that is expected to begin shortly.

LT’s chairman Faisel Gergab said his company would continue to contribute to the development and improvement of the infrastructure in all airports in Libya.

No mention was made of the overall cost, who will be meeting it nor who has supplied the original apparatus.
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