«المركزي» يستلم 500 مليون دينار قادمة من بريطانيا

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Business News

Business News
Released:  22/11/20122012-11-22
Word count:  83

Air Libya will resume regular passenger flights to the southern desert city of Kufra on Nov. 22 after adding a new aircraft to its fleet, said Mohamed Elobeid, the airline’s vice president for commercial services.

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Bloomberg
Elobeid also said by phone the airline had extended its contract with Waha Oil to transport company personnel, which was a service that had required the use of three of the four aircraft it had in its fleet. He said the airline had taken delivery of an aircraft leased from Turkey and had acquired two others that will arrive by the end of November and mid-December. To contact the reporters on this story: Brigitte Scheffer in Tripoli via Cairo at bscheffer@bloomberg.net
Comments:

the airline had taken delivery of an aircraft leased from Turkey and had acquired two others that will arrive by the end of November and mid-December.

Khaled Montasir
5 yearss ago

Business News

Business News
Released:  22/11/20122012-11-22
Word count:  181

Dr. Muhammad Al-Muqairef, president of the Libyan National Conference, has expressed his country’s desire to strengthen economic and commercial cooperation with Saudi Arabia.

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SyndiGate.info
Addressing Saudi businessmen at the Council of Saudi Chambers in Riyadh, he said: “We would like to encourage Saudi investors to carry out joint projects in Libya.” He said Libya has revised its regulations to facilitate and protect foreign investment in the country and opened new areas for foreign investment.

Al-Muqairef, who is currently visiting the Kingdom at the head of a high-level delegation including ministers and businessmen, sought Saudi support to rebuild the country.

He thanked Custodian of the Two Holy Mosques King Abdullah for receiving him and his delegation and expressing his sincere feelings for the security and future of Libya.

Al-Muqairef welcomed the formation of the Saudi-Libyan Business Council and urged Saudi businessmen to visit his country to explore new investment opportunities.

Abdullah Al-Mubti, president of CSC, urged Al-Muqairef to facilitate issuance of visas for Saudi businessmen to visit Libya. He said bilateral trade between the two countries had not reached the expected level. Two-way trade in 2011 was estimated at $ 51.2 million. He stressed the Saudi businessmen’s desire to strengthen business and investment relations between the two countries.
Comments:

Abdullah Al-Mubti, president of CSC, urged Al-Muqairef to facilitate issuance of visas for Saudi businessmen to visit Libya. He said bilateral trade between the two countries had not reached the expected level. Two-way trade in 2011 was estimated at $ 51.2 million. He stressed the Saudi businessmen’s desire to strengthen business and investment relations between the two countries.

Khaled Montasir
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  20/11/20122012-11-20
Word count:  742

(Reuters) - Libya's new oil minister, once imprisoned under Muammar Gaddafi, is relatively unknown in the industry but brings with him technical expertise to take charge of the OPEC member's economic lifeline after it was restored to pre-war levels.

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Mina Monir - mina@libyabusiness.tv
Abdelbari al-Arusi, 51, faces tough tasks ahead: improving security as plans to train former rebel fighters, now guarding oil installations, take hold, dealing with calls for more regional authority in the oil-rich east and threats of strikes.

Arusi studied chemical engineering before earning a masters and doctorate in corrosion protection in Britain. He worked at Libya's Sirte Oil for 16 years, an engineer in the field of corrosion at the Marsa El-Brega terminal in the east.

Arusi later expanded his responsibilities to inspection, budgets, training as well submitting technical proposals to the country's top oil body, the National Oil Corporation (NOC).

From the western town of Zawiyah, he joins the ministry from Libya's Green Holding Company, where he was an executive since the end of last year.

He takes over from Abdulrahman Ben Yazza who oversaw output restored to around pre-war levels of 1.6 million barrels per day after a virtual standstill during the 2011 war that ousted Gaddafi. Libya is now aiming for 1.72 million bpd by end-March.

"This is a big responsibility. We will try our best to push Libya to its new future," Arusi told Reuters after he was sworn in as minister at a government handover ceremony last week.

"Right now (in the oil sector) the target is to maintain the production rate and increase that next year."

In 1998, Arusi was arrested for being part of the then underground Muslim Brotherhood movement and sent to Tripoli's notorious Abu Salim prison; he was in jail for eight years.

He is said to have later worked at UK-based oil services company Tecnica in Libya and then Taknia engineering company, where he looked after engineering projects and corrosion solutions at a number of companies.

"He was very good on both the technical and administrative side of the job," a former colleague at Sirte Oil said.

"He was very active and well known for his attention to the training programs and development."

A senior NOC source, who did not know Arusi personally, said: "I have been told that he is a good, honest man."

POLITICALLY ACCEPTABLE

Some however have questioned Arusi's credentials to take charge of a key sector for Africa's third biggest oil producer. Ben Yazza worked extensively in Libya's oil industry and abroad.

Some members of the national congress, which approved the government, say they still have doubts over his appointment.

"There are some objections he does not have much exploration and production experience but it is too early to say how he will do," a Libyan oil industry source said. "He should be given a chance. He needs to be a good, strong decision-maker."

Analysts say the choice of minister had to be politically acceptable in a country where regional rivalries are rife and where the two biggest parties in the national assembly are a liberal coalition and the Muslim Brotherhood's political wing.

Both wanted ministries in the interim government that will govern until elections after a constitution is drafted.

"Getting the balance right was the primary thing," Charles Gurdon, managing director of Menas Associates, said.

"If his appointment means that there will be greater political stability, the situation will settle down quicker - I think that is more important to the international oil companies than whether or not he has lots of experience or is well known."

Under Ben Yazza, there has been some continuity in oil sector policy, helped by the continuity in personnel, except for a few high level changes. Deputy Oil Minister Omar Shakmak will stay in his position for now.

While the interim nature of the government means major new awards are still unlikely, there are hopes some upgrade projects could be approved where investors are looking to expand.

Ensuring foreign companies stay long-term in Libya is also a priority as analysts say a number of discoveries elsewhere in Africa may limit enthusiasm for its future deals.

Until late 2004, Libya's unexplored territory had been off-limits for decades because of U.S. sanctions. In its most recent bidding round in 2005, when that land opened up and a scramble for acreage ensued, companies accepted some of the industry's tightest exploration and production deals.

Fierce competition meant returns were narrower, and the results of initial efforts to find oil have been disappointing.

"Companies are going to be considering whether or not to stay in Libya," Gurdon said. "I think that is the central issue facing the new oil minister."

(Additional reporting by Ghaith Shennib; Writing by Marie-Louise Gumuchian, editing by William Hardy)

Comments:

Business News

Business News
Released:  19/11/20122012-11-19
Word count:  153

200 Indian companies are due to negotiate with Egyptian companies to co-execute a series of projects in Libya, according to the Indian embassy in Cairo.

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Mina Monir - mina@libyabusiness.tv
The Indian Ambassador to Cairo, Navdeep Suri, has stated that the 200 companies will negotiate with Egyptian firms regarding the possibility to launch large projects as part of the rebuilding plans in Libya. They view this as a good means to enter the African market. The Indian delegation has arrived in Cairo to discuss the projects with their Egyptian counterparts. The future cooperation in rebuilding Libya should enhance the level of commercial exchange by 30% between the two countries, according to Mr. Navdeep. Egyptian-Indian cooperation in building projects in North Africa has reach 2.5 Billion USD and extends to 50 projects in the African market. The Indian delegation includes companies specialised in the field of healthcare, electrical cables, communications, energy, concrete, security systems as well as fitness equipment. Notably, the new Libyan cabinet has prioritised support for foreign investments towards rebuilding the country. This became a source of encouragement for international firms to consider operating in Libya.
Comments:

This good news, we can cooperation in this business via supply of Raw Materials ind.for more details could contact me at aeb_nazmy@yahoo.com ....thanks

Anonymous
5 yearss ago

Construction News

Construction News
Released:  15/11/20122012-11-15
Word count:  257

Malawi government says it has resumed talks with Libyan government on the construction of a district hospital to be built at Kameza in Blantyre.

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Wanga Gwede, Nyasa Times
Malawi set up diplomatic ties with Libya government in 2001 during the reign of former President Bakili Muluzi, who often said Malawi would benefit from co-operation with Libya.

Late Colonel Muarmar Ghaddafi pledged the 300-bed hospital when he visited the country in 2002. A foundation stone was laid at the site.

Libya also promised five Doctors to man different Departments of the hospital and that they would manage the hospital for a year before handing over completely to Malawi Government.

But the project stalled when Muluzi left office in 2004 at the end of two five-year terms. Late Bingu wa Mutharika administration also cut diplomatic ties with Libya.

“The discussions stopped but now with the change of regime in the country discussions have resumed. The site is still in Libyan hands,” Malawi Vice President Khumbo Kachali who is also Minister of Health told the National Assembly.

Kachali made the comment when he was answering a question from Member of Parliament for Blantyre Kabula, Felix Njawala on Tuesday who asked government to consider constructing a District Hospital in Blantyre since Queen Elizabeth Central Hospital (QECH) is currently burdened as a referral Hospital.

“QECH caters for almost half a million which is not fair for the health workers at the hospital, please decongest it, “pleaded Njawala.

Kachali said his Ministry is aware of the issue that Blantyre needs a District Hospital, but there are a numbers of issues which needs to be tackled.

He further said that Malawi government signed an agreement with Libya government to construct a district hospital in Blantyre.
Comments:

thanks!

Khaled Montasir
5 yearss ago

Business News

Business News
Released:  14/11/20122012-11-14
Word count:  300

Global exports of corn oil reached a six-year high in the past season, in part because of rising shipments to Libya after the toppling of Muammar Qaddafi’s regime, Oil World said.

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Bloomberg
World corn oil shipments jumped 18 percent in the year ended Sept. 30 to 900,000 metric tons, the Hamburg-based researcher said today in an e-mailed statement. U.S. exports increased to Spain, Egypt and Venezuela, with much of the supply to Spain re-exported into North Africa, it said. Libya imported about 100,000 tons of corn oil in the 2011 calendar year, it said. “In Libya the overthrow of the Qaddafi regime apparently paved the way for a doubling of corn oil imports” in 2011, with purchases increasing further through at least the first nine months of 2012, Oil World said. “Part of the corn oil, mainly U.S. origin, entered the country via Spain and Tunisia.” Both exports and domestic consumption of corn oil “increased significantly” in the U.S. in the 2011-12 season, Oil World said. U.S. use of the oil for biodiesel production jumped to 223,000 tons from October 2011 to August 2012, up more than 90 percent from a year earlier. About 60 percent of dry- mill ethanol plants will produce corn oil by next year, allowing for annual production of about 300,000 gallons of corn oil-based biofuel, it said, citing the Environmental Protection Agency. U.S. net imports of oils and fats totaled 2.1 million tons in the 2011-12 season that ended Sept. 30, up from 1.1 million tons a year earlier, Oil World said. Usage of palm oil and canola oil also “increased sharply,” it said. Net imports may rise in the current season after drought hurt corn and soybean crops with palm oil needed “to fill in the supply gap to a large extent.” World exports of sunflower seed oil may shrink by 1.1 million tons to 6.1 million tons in the 2012-13 season, Oil World said. Global exportable supplies of sesame seed also are expected to shrink, as production in India falls to a four-year low at 680,000 tons, it said.
Comments:

“In Libya the overthrow of the Qaddafi regime apparently paved the way for a doubling of corn oil imports”

Khaled Montasir
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  14/11/20122012-11-14
Word count:  415

Dubai: UAE-based Crescent Petroleum is gearing up for expansion in the Iraqi oil and gas sector and a debut into Libya and Lebanon, its chief executive told Reuters on Monday.

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Gulf News
As new governments try to meet the urgent needs for job creation and economic diversification in the wake of the Arab Spring, regional oil and gas producing companies are seeking partnerships with new leaders to set up ventures and take over concessions left behind by international companies. “We are looking at entering Libya with the right opportunity. Other countries like Lebanon, despite plans being delayed, have been setting up regulations bodies in preparation. It’s an area of potential interest,” Majid Jafar said on the sidelines of the World Economic Forum (WEF) in Dubai. Crescent Petroleum, which is based in Sharjah and has its major operations in the UAE, Iraq’s Kurdistan region and Egypt, plans to expand investment and production in Kurdistan and into other areas in Iraq given the country’s under-explored state.

“There are only 2,000-3,000 wells drilled in the whole of Iraq so far compared to 10 times as many in Saudi and 1 million wells in Texas alone,” Jafar added. Consensus on policy The Iraqis are only beginning to develop the sector, he said, adding that there has not been a consensus on policy and there is still a mindset that the state needs to manage the sector. Crescent, which owns a fifth of Dana Gas, the regional gas producer whose $920 million (Dh3.4 billion) sukuk is being restructured, says it has not seen a decrease in bank appetite for financing any of its projects and will go ahead with a dual listing of a Dana gas unit. Abu Dhabi-listed Dana Gas announced plans last year for a dual listing on an international exchange like London to achieve better value for shareholders. Dana said last week it has reached an agreed restructuring of its $920 million sukuk which matured on October 31. It said it will pay its sukuk holders a mix of cash and new bonds — split between a sukuk and a convertible. “The Dana sukuk issue was over reported and many pieces were inaccurate. Dana has done what it said it would do with the funds. In Egypt, the company doubled its gas reserves, achieved 80 per cent success rate of exploration programme and increased production by 70 per cent,” Jafar said. According to him, Dana’s main problem was not solvency or lack of success but a liquidity issue. Dana still has $200 million owed by the Egyptian government and more than $300 million owed by the Kurdistan Region in Iraq, he said. “There are still issues to be resolved, but we are optimistic,” he said.
Comments:

We are the Seismic Data Procesing, We are looking the opportunity in Libya and we would like joint with Libyan company. Masdar Simbolon

Masdar Simbolon
5 yearss ago

“We are looking at entering Libya with the right opportunity.

Khaled Montasir
5 yearss ago

Business News

Business News
Released:  13/11/20122012-11-13
Word count:  80

PARIS — Libyan carrier Afriqiyah Airways has ordered another four of Airbus’ A350 widebody jets, bringing its total order to 10.

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Associated Press
In a statement Monday, Airbus says Afriqiyah Airways is also converting its previous order for six A350-800s into orders for the larger A350-900.

At list prices, the four additional jets are worth €1.1 billion ($1.4 billion).

The new order comes as French foreign minister Laurent Fabius is in Libya, where he is meeting with President Mohamed Megarief and Prime Minister-elect Ali Zeidan.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Comments:

Airbus says Afriqiyah Airways is also converting its previous order for six A350-800s into orders for the larger A350-900. At list prices, the four additional jets are worth €1.1 billion ($1.4 billion).

Khaled Montasir
5 yearss ago

Business News

Business News
Released:  13/11/20122012-11-13
Word count:  338

Nov 12 (Reuters) - France said on Monday it was ready to start releasing almost $2 billion in frozen assets belonging to Libya's sovereign wealth fund, as it looks to secure investment from the oil-producing nation.

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France's Foreign Minister Laurent Fabius made the announcement during a visit to Tripoli, the latest in a series of high-level French political and business delegations to the OPEC member.

France spearheaded efforts to oust Libyan leader Muammar Gaddafi last year and, as part of wide-ranging international sanctions, froze about $8-9 billion in assets held in France.

"France is committed through me to immediately begin unfreezing the funds of the Libyan Investment Authority estimated at $1.865 billion," Fabius said, according to a copy of a speech to Libya's general congress sent to Reuters by the foreign ministry.

During the visit, Fabius and Industry Minister Arnaud Montebourg were due to discuss Libya's reconstruction and the sovereign wealth fund'sinterest in taking over a refinery in Normandy owned by insolvent Swiss refiner Petroplus.

The Socialist government of President Francois Hollande is anxious to curry investment from abroad amid high domestic unemployment and a stagnant economy.

The government also hopes to secure a rescue of Petroplus' Petit Couronne plant, the oldest refinery in France that was placed under legal protection after the company filed for insolvency last year.

In an interview published on Sunday in Le Journal du Dimanche, Montebourg said France could co-invest alongside Libya's sovereign wealth fund if the fund takes over the plant that was put under legal protection after its Swiss-based owner Petroplus filed for insolvency last year.

Several potential rescuers have expressed interest in the Petit Couronne refinery, including Hong-Kong-based Alafandi Petroleum Group (APG) and NetOil, a group led by Middle Eastern businessman Roger Tamraz.

Fabius said on Monday Paris had already released another $1.8 billion in other Libyan assets.

The speech did not refer to the other outstanding funds. But Fabius' predecessor, former foreign minister Alain Juppe pledged to help Libyan authorities recoup all their frozen assets.

Last week, the chairman of the Libyan Investment Authority said that a court in Rome had ordered the release of the fund's stakes in Italian bank UniCredit and defence group Finmeccanica (Reporting By John Irish; Editing by Alexandria Sage and Andrew Heavens)
Comments:

"France is committed through me to immediately begin unfreezing the funds of the Libyan Investment Authority estimated at $1.865 billion,"

Khaled Montasir
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  09/11/20122012-11-09
Word count:  175

VIENNA, Nov. 8 (UPI) -- Damage from the Libyan civil war to the country's oil infrastructure meant there would be a delay in reaching production forecasts, an executive said.

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UPI
Libyan National Oil Co. Chairman Nuri Burrein said from Vienna that Libyan oil production should reach 1.7 million barrels per day during the first quarter of next year. Damage to offshore wells and pipelines in the country meant production goals were slightly delayed, the Platts news service reports.

The Libyan oil sector has rebounded since last year's civil war and is producing around 1.6 million barrels per day, its pre-war level.

NATO forces responded to the Libyan civil war last year with airstrikes, which paved the way to regime change in the country.

Burrein said Libya expected to reach a production level of around 2 million barrels of oil per day in three to five years.

German energy company Wintershall last month said it was planning to build an oil pipeline for the Libyan port of Ras Lanuf by next year. The pipeline has a design capacity of 100,000 bpd.

Wintershall's oil production had reached 85,000 barrels per day by October. Before the war, it was producing around 100,000 barrels of oil per day. It operates eight onshore fields in Libya.
Comments:

Libya expected to reach a production level of around 2 million barrels of oil per day in three to five years.

Khaled Montasir
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  08/11/20122012-11-08
Word count:  166

Spanish oil giant Repsol reported Thursday a spurt in quarterly profits as the resumption of Libyan oil operations helped to compensate for its troubles in Argentina.

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Expatica.com
Repsol net profit leapt 36.4 percent from the figure for the same period a year earlier to 760 million euros ($970 million) in the third quarter of 2012, the group said in a statement. Sales gushed 19.0 percent higher to 15.6 billion euros. The resumed oil production in Libya, which had been interrupted by the uprising that toppled veteran dictator Moamer Kadhafi last year, was a key factor behind the improvement, the company said. A boost in production from Bolivia and wider profit margins from the liquefied natural gas business in Spain also helped the firm to overcome the loss of income from YPF, its former Argentine offshoot. Argentine President Cristina Kirchner on May 4 signed a bill expropriating 51 percent of YPF's stock from Repsol, its majority shareholder, arguing that Repsol had failed to make agreed investments. For the first nine months of 2012 combined, Repsol said net profit fell 5.5 percent from a year ago to 1.8 billion euros largely because of the loss of YPF profits. But nine-month sales grew 13.3 percent to 5.4 billion euros.
Comments:

good news.

Osama Al Rawaf
5 yearss ago

For the first nine months of 2012 combined, Repsol said net profit fell 5.5 percent from a year ago to 1.8 billion euros largely because of the loss of YPF profits. But nine-month sales grew 13.3 percent to 5.4 billion euros.

Khaled Montasir
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  08/11/20122012-11-08
Word count:  213

TRIPOLI — A Libyan oil executive said on Wednesday work is gradually resuming at a strategic refinery in the western town of Zawiyah, following a disruptive protest by former rebels seeking medical treatment.

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AFP
"All refinery workers have returned to their posts today," said Imed bin Kura, acting director of the Zawiyah Oil Company, adding that the distribution of hydrocarbons was proceeding normally. "The resumption of refining will take two or three days, the time to address technical issues after a four-day halt in operations," he told AFP. Bin Kura stressed that there will be no shortages thanks to fuel reserves. Established in 1976, the Zawiyah refinery has a production capacity of 120,000 barrels per day. It supplies western Libya, accounting for about 70 percent of domestic consumption. About 150 war veterans took part in the protest at the refinery that ended on Tuesday. They were demanding treatment for injuries suffered in the 2011 conflict that toppled dictator Moamer Kadhafi, according to residents. Libyans often seek medical treatment in other countries over poor conditions at local hospitals. Government schemes that sent ex-rebels abroad for treatment have been cut because of abuse, corruption and outrageous bills. The disruption of work at the refinery and its port cost Libya at least $30 million, according to the oil ministry. Bin Kura said the extent of financial losses was still being evaluated. The demonstration had caused ripples in Tripoli, 50 kilometres (30 miles) east of Zawiyah, with long queues forming at petrol stations and contributing to monster traffic jams.
Comments:

good luck!

Osama Al Rawaf
5 yearss ago

All refinery workers have returned to their posts today,

Khaled Montasir
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  07/11/20122012-11-07
Word count:  226

Austrian oil and gas company OMV AG reported an increase in its third quarter net income Wednesday and said while it expects Libyan production to remain at its current level, the security situation in Yemen remains uncertain.

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MarketWatch
- Clean current cost of supply earnings before interest an taxes, which exclude inventory holding gains and losses, were 786 million euros ($1.01 billion) in the third quarter, up 34% on the year.

- Clean CCS net income attributable to stockholders also increased 34% on the year to EUR317 million.

- Third-quarter EBIT was EUR779 million, an increase of 37% on the year.

- OMV said its the results of its business segment, exploration and production, were supported by higher sales volumes from Libya.

- Total OMV daily oil and natural gas liquids production increased by 24% on the year, mainly reflecting the production from Libya, which is still close to pre-crisis levels and was missing in the third quarter of 2011 due to the armed conflict in the country.

- For the remainder of 2012, OMV expects the average Brent oil price to remain above $100 per barrel, whilst the Brent-Urals spread is anticipated to stay relatively tight.

- In the European gas market, the significant spread between oil-linked gas prices and hub prices is expected to remain, OMV said.

- The recovery in refining and marketing margins in the second and third quarter of 2012 has broadly continued into the early part of the fourth quarter. However, the outlook remains uncertain, OMV said.

- Petrochemical margins and volumes will continue to be under pressure as a subdued economic environment weighs on prices, the company added.
Comments:

Third-quarter EBIT was EUR779 million, an increase of 37% on the year. - OMV said its the results of its business segment, exploration and production, were supported by higher sales volumes from Libya.

Khaled Montasir
5 yearss ago

good & promising news, thanks

Osama Al Rawaf
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  07/11/20122012-11-07
Word count:  323

VIENNA, Nov 7 (Reuters) - Libya's National Oil Corporation (NOC) aims to boost oil output to 1.72 million barrels per day (bpd) by the end of March next year, its chairman said on Wednesday, but warned of the risk that strikes could interrupt production.

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Emma Farge - Reuters
OPEC member Libya has lifted production much faster than analysts had expected after last year's civil war to a current level of around 1.6 million barrels per day.

But in recent months activists and local militia have sought to pursue political aims by disrupting operations in Libya's main industry and in July forced the closure of three major oil terminals.

"We had some drops in production. Welcome to democracy and freedom of expression. We had strikes and we expect more of that, but it is a healthy thing," NOC Chairman Nuri Berruien said at the North Africa Oil and Gas Summit.

He added on the sidelines of the conference that protests at the Zawiya refinery near Tripoli earlier this week had forced a one-day shutdown at the 200,000 bpd El Sharara field.

The refinery also was halted due to the protests and has resumed operations, according to a refinery spokesman.

NEW LICENCES

Berruien said future rises in oil production would mostly come from existing fields. Libya will aim to boost production to 2.2 million bpd within five years, he said.

"We strongly believe a large amount of our future oil can be in already targeted mature fields," he said, adding that high oil prices and technological advances created a favourable environment.

He said the country also would explore its potential to produce unconventional gas, such as shale.

NOC plans to proceed next year with Libya's fourth licensing round, known as the Exploration Production and Sharing Agreement (EPSA), Berruien said without providing details.

Investing in new refining capacity will also be a priority for the NOC, he added.

Despite being one of Africa's top oil producers, Libya relies on imports for around three quarters of its gasoline consumption.

"We plan to upgrade and increase the capacities of existing refineries and to study different options of adding new refineries to increase gasoline and diesel with good specifications," he told the conference. (Editing by Alison Birrane and Jane Baird)
Comments:

Despite being one of Africa's top oil producers, Libya relies on imports for around three quarters of its gasoline consumption. "We plan to upgrade and increase the capacities of existing refineries and to study different options of adding new refineries to increase gasoline and diesel with good specifications,"

Osama Al Rawaf
5 yearss ago

News Releases

News Releases Business News
Released:  06/11/20122012-11-06
Length:  5.15

The Chinese ZTE to Support Libyan Communications Sector The deputy manager of ZTE, Malik Shaaban, has stated that the company, “managed, especially during the war and its aftermath, to provide communication services as well as maintenance of the communication networks in Misrata and the Western Mountain.” ZTE is now competing with five foreign companies operating in Libya and racing to win the contract to provide the G4 and HSPA4...

Play
Comments:

nice video, thanks

Osama Al Rawaf
5 yearss ago

Business News

Business News
Released:  06/11/20122012-11-06
Word count:  377

The North African country, which is still off-limits to British travellers according to the Foreign Office, is among the more unusual destinations being showcased at the 2012 World Travel Market, a holiday trade show which opened at ExCeL London this morning.

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Oliver Smith - telegraph.co.uk
The efforts have been fairly well received. In a survey of 1,300 tourism chiefs attending the conference, more than half believed Libya had the potential to become a popular tourist spot, with just one in 10 dismissing the idea entirely. "Libya could be one of tourism's most exciting destinations in the future,” said WTM director Simon Press. "Many destinations such as Vietnam and Croatia have repositioned from conflict zones to tourism hotspots, and there is no reason why, over time, Libya cannot do the same." The country is renowned for its ancient ruins, with those at Leptis Magna - one of five UNESCO World Heritage Sites found in the country – perhaps the best known. The former Roman city lies around 80 miles east of the modern day capital, Tripoli, and dates back to around 1100 BC. Other ruins can be found at Cyrene, close to the present day settlement of Shahhat, Apollonia, 12 miles to the southwest, and Sabratha, in the northwest corner of the country.

Tripoli, Libya’s capital, is known for its walled medina and relaxing old-world ambience, and is home to a number of grand mosques, statues and fountains. Active travellers would be attracted to the Acacus Mountains, close to the Algerian border, known for their dunes, deep ravines and cave paintings, while the oasis towns of Ghadames and Ubari were common stops on tours of the country prior to last year’s Civil War. Libya’s presence at the World Travel Market comes despite the fact that the Foreign Office currently advises against all but essential travel to the settlements of Zuwara, Az Zawiya, Tripoli, al Khums, Zlitan and Misrata, and the coastal towns from Ras Lanuf to the Egyptian Border, with the exception of Benghazi. It advises against all travel to all other areas of Libya, including Benghazi. The warnings mean that travellers will struggle to find travel insurance if they do decide to visit the country. However, British Airways has already resumed flights to Tripoli. Several operators, including Exodus, Intrepid, Abercrombie and Kent and Responsible Travel, have previously offered trips to Libya, usually including a sightseeing tour of Tripoli and a visit to Leptis Magna. A spokesman for Intrepid said it was hopeful of restarting tours of the country if the Foreign Office relaxed its advice.
Comments:

it will be good

Osama Al Rawaf
5 yearss ago

Tripoli, Libya’s capital, is known for its walled medina and relaxing old-world ambience, and is home to a number of grand mosques, statues and fountains.

Khaled Montasir
5 yearss ago

Oil & Gas News

Oil & Gas News
Released:  06/11/20122012-11-06
Word count:  514

(Reuters) - Dubai-based NetOil, led by Middle Eastern businessman Roger Tamraz, has submitted a new offer to take over France's oldest refinery, unveiling a last minute deal with British oil major BP (BP.L) and Hyundai (011760.KS).

Play
Last month, the commercial court in Rouen rejected two bids, including NetOil's, to buy the Petit-Couronne refinery of insolvent Swiss firm Petroplus, threatening to send it into liquidation unless a new offer was submitted by November 5.

Roger Tamraz told Reuters that NetOil had improved its offer, which had been criticized by the court for not providing enough details on financial and technical aspects.

"BP is interested to supply crude, 120,000 barrels per year for a three-year period, that gives us a certain stability in terms of supply," Tamraz said.

"As for Hyundai, they're interested in the upgrading of the refinery, which is very important to increase our refining margins. With two names like that, I don't see why they should hesitate now," he said.

Potential buyers had until 1600 GMT to submit offers on Monday, but Petroplus judicial administrators said in a statement they would consider their merits on Tuesday, when a possible new deadline could be announced.

Industry Minister Arnaud Montebourg said earlier on Monday the government did not support the liquidation of the refinery and asked the court to delay its decision because it had received a non-binding letter of interest from Libya's sovereign wealth fund.

"We don't want the liquidation of this refinery," Montebourg told RTL radio. "I'm going to ask the commercial court today to delay its judgment, to take the time necessary to allow our Libyan friends to invest in this refinery."

The plant's 500 workers and their trade unions had invested much hope in NetOil, but Tamraz said they would be open to a joint deal with the Libyans.

"We welcome Libya, we know them well since we were with them in Tamoil," Tamraz said.

"But they must realize Libya just closed a refinery in Italy with a big fight with the unions there, they put 1,000 people out and they closed a refinery in Switzerland. So let's be a bit logical with what we want to do," he added, referring to the Cremona refinery shut by Libyan energy companyTamoil.

AVOIDING JOB CUTS, STRIKES

The French government has been especially wary of avoiding job losses as unemployment hit a 13-year high and is seeking to prevent the closure of Petit-Couronne from escalating into a disruptive strike movement similar to one in 2010.

The closure of Total's Dunkirk refinery in early 2010, where images of emotional workers had been broadcast on national news bulletins, helped trigger a two-week strike at all of the group's French refineries.

Fuel supplies were also disrupted in the second half of 2010 when a five-week strike in the port and refining sector halted output at French refineries.

A new closure would be hard to swallow for Petit-Couronne's unions, who had secured a temporary reprocessing deal with former owner Shell (RDSa.L) and returned the plant to profit.

A 24-hour national refinery strike called by the CGT only resulted in a limited action, with only La Mede and Donges refineries cutting output and fuel deliveries.

The French oil major still owns five refineries in France out of the country's eight.

(Additional reporting by Alexandria Sage and Marc Parrad; Editing by William Hardy)
Comments:

good move

Osama Al Rawaf
5 yearss ago

"We welcome Libya, we know them well since we were with them in Tamoil," Tamraz said.

Khaled Montasir
5 yearss ago

Business News

Business News
Released:  05/11/20122012-11-05
Word count:  279

(ANSAmed) - Rome - An agreement has been reached between Italy's and Libya's small and medium-sized business association to help and reconstruct the post-war North African country. The alliance will facilitate the entry of Italian businesses in a country that is currently "an opportunity for business and employment without equal". This is the main objective of the Italian Project Association Apil, a synergy between Italian and Libyan...

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The synergy is under the patronage of the Italian-Libyan Chamber of Commerce and is being promoted by El Dawlia - one of Libya's leading fair operators - together with Sme Task Force, which represents more than 100 business in north-eastern Italy and that are already working on Libya's reconstruction. The platform created by Apil will "intensify the exclusive ties with Italy, a country that for Libya is synonymous with excellence in all sectors", highlighted Marco Danieli, in charge of the Italian-El Dawlia initiative. "The aim is to get Italy involved in promoting these projects in Libya, which regard businesses and institutions in both countries".

"Thanks to this new association, Italian businesses can have more visibility in international fairs and conferences held in Libya," continued Daniel. The fairs will be launching in Tripoli, Bengazi and Misrata, the association's operational headquarters.

El Dawlia's Honorary President added, "Libya is now free and independent and has kicked off a series of programmes concerning education, health, agriculture and infrastructure, offering many opportunities in both the private and public sectors".

"Libya faces aggressive competitors such as China and Turkey, but a special relationship exists between our two countries," commented the president of the Italian-Libyan Chamber of Commerce Gian Franco Damiano, "The demand for Chinese products seems to be waning." Damiano stated that Italian small- and medium-sized businesses offer both flexibility and quality but that, owing to the current Italian political situation, , they are in need of support. "Italian institutions are facing maybe even more difficulties that their Libyan counterparts," added Damiano, "There's a lot of work that needs to be done, especially by the Ministry of Economic Development as far as financial incentives are concerned." (ANSAmed).
Comments:

we need more associations like this

Hend Al-jaberie
5 yearss ago

"There's a lot of work that needs to be done, especially by the Ministry of Economic Development as far as financial incentives are concerned."

Khaled Montasir
5 yearss ago

Business News

Business News
Released:  05/11/20122012-11-05
Word count:  106

Nov 2 (Reuters) - Hess Corp's third-quarter profit nearly doubled as production from the Bakken oil field rose and the company resumed operations in Libya.

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Hess shares rose 4 percent before the bell.

Third quarter oil and gas production rose 17 percent to 402,000 barrels of oil equivalent per day (boe/d).

Production from the Bakken nearly doubled to 62,000 boe/d, while the Waha concessions in Libya added 23,000 boe/d to output.

There was no production in Libya in the same period last year due to civil unrest in the country.

Net income attributable to Hess rose to $557 million, or $1.64 per share, from $298 million, or 88 cents per share, a year earlier.

Revenue rose 6 percent to $9.19 billion.

Hess shares, which have fallen 7 percent this year, closed at $52.65 on Thursday on the New York Stock Exchange.
Comments:

nice

Osama Al Rawaf
5 yearss ago

Third quarter oil and gas production rose 17 percent to 402,000 barrels of oil equivalent per day (boe/d). Production from the Bakken nearly doubled to 62,000 boe/d, while the Waha concessions in Libya added 23,000 boe/d to output

There was no production in Libya in the same period last year due to civil unrest in the country.

Khaled Montasir
5 yearss ago

good news, Thanks!

Hend Al-jaberie
5 yearss ago

Business News

Business News
Released:  02/11/20122012-11-02
Word count:  127

In his first speech after the National Conference’s approval of his new cabinet, the new Prime Minister Ali Zidan has called an enhancement of Libyan partnerships with Europe and the United States for the purpose of rebuilding his country.

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Mina Monir
Ali Zidan, whose cabinet has now been finalised after earlier difficulties, told Libyans that Libya urgently needs the full participation of those who made the revolution in rebuilding this new democracy. He confirmed that Libya’s commitments to international agreements will be preserved and that it will prove that Libya can be a good neighbour and a productive member of the international community.. Mr. Zidan emphasised the importance of the Libyan economic partnerships with Europe and the United States, which should be based on mutual respect and equivalence. Mr. Zidan said that his government will seek to support this partnership to achieve what had been dreamt of by revolutionists in February 2011. This revolution, according to him, happened with the help of “western friends” until it gained victory.
Comments:

West needs this partnership as much as Libya does. Thanks

Hend Al-jaberie
5 yearss ago

Mr. Zidan emphasised the importance of the Libyan economic partnerships with Europe and the United States, which should be based on mutual respect and equivalence.

Khaled Montasir
5 yearss ago
Find out what contracts are on offer in Libya
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