An Open Invitation to Purchase of one (FM-200) Filling Station for Ras Lanuf

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Oil & Gas News

Oil & Gas News
Released:  11/12/20152015-12-11
Word count:  54

Tripoli, 10.12.2015 - Lana - The maritime tanker 'Bariqa', had completed unloading its shipment of '1697' metric tons of cooking gas , which will contribute in filling the local market needs of gas.

Play
LANA - Libyan News Agency
This was declared by the media office of the company , confirming that the production of cooking gas market is running good.

The official in a press statement , called on expanding the land transportation means , and increasing the amount of operation , to enhance the gas production level , in order to eliminate the parallel market.

=Lana=
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Petrovic Dorde
7 months ago

News Releases

News Releases
Released:  11/12/20152015-12-11
Word count:  238

After four months of training, some 450 local police recruits graduated at a ceremony in Ghat on Tuesday. They were the second intake of new police for the area and they included 38 new female police officers.

Play
Libya herald
As well as a formal parade, the event include demonstrations of weapons dismantling and reassembling, rescue operations and police operations tactics.

“We had government approval to reopen the centre despite the difficulties the county is going through,” a spokesman for the police training centre said.

Some of the new police had previously been members of the former Supreme Security Committee and then attached to the interior ministry, he said. Others had worked with the local fire service or the tourist police.

“We will be at the service of the public,” said Ismail Qawi, who came top of the class among the new graduates. “The region needs the police.”

Ghat has been trying hard to maintain law, order and normality in extremely difficult circumstances over the past year and a half. It has at times been cut off because of continued fighting between Tebus and Tuareg at Obari on the lifeline road to Sebha. This has affected the supply particularly of food, medicines and other medical supplies, resulting in steep price rises in the shops and the local hospital in crisis.

In a separate but related development in the town, teams of volunteers, including the scouts, have just end a two-week campaign to rid it of out-of-date medicines. They have been collecting them for destruction from the pubic and various local institutions. The shortage of medical supplies is said to have resulted people not getting rid of expired items.
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Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News

Tripoli, 09.12.2015(Lana) Arab Gulf Company spokesman, Omran Al-Zawi said oil export via Hariqa Port is regular and running according to schedule and that the company exports are about 250,000 barrels of oil.

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LANA - Libyan News Agency
Omran Al-Zawi explained that Sareer refinery that rinfes gasoline and diesel is on operation after finishing its regular maintenance.

He said Majed and Nafura production is still halted due to the halt of Zawitina port and Al Baida port is also stalled because of the force majeure that has been imposed.

=Lana=
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Petrovic Dorde
7 months ago

News Releases

News Releases
Released:  10/12/20152015-12-10
Word count:  69

Tripoli, 09.12.2015(Lana) Central bank of Libya has released new five and ten dinar notes that would be put to circulation as of next Sunday.

Play
LANA - Libyan News Agency
On its website the bank said quality of paper and security matters were considered .

It said the clock tower in Tripoli was depicted and another for Cyrene ruins on the five dinars note, while the ten dinars note has the picture of Omar Al-Mukhtar freedom fighter and another to calvarias of Libya.

It explained that old notes will be withdrawn gradually after setting a deadline for their replacement.

=Lana=.
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Petrovic Dorde
7 months ago

Business News

Business News
Released:  10/12/20152015-12-10
Word count:  258

The only internationally recognized Libyan Prime Minister, Abdullah Thinni, in his capacity as Head of the Board of Trustees of the Libyan Investment Authority (LIA), held a meeting with the Chairman and members of the Board of the Libyan Investment Authority in Malta on Saturday.

Play
Libya herald
The meeting was attended by Board of Trustees members: Mr Kamil Alhassi, Minister for Finance and Planning; Mr Mounir Assir, Minister for Economy and Industry and Mr Ali Hibri, Governor of the Central Bank of Libya. The meeting was also attended by Board of Trustees consultants and addressed the investment reports from the LIA and its subsidiaries.

During his visit to Malta, Prime Minister Thinni met with staff at the interim headquarters of LIA and the Libya Africa Investment Portfolio (LIAP) and said ‘‘the Board of Trustees have been reassured on the performance of the Libyan Investment Authority. We should portray these achievements of the LIA before the Libyan people so they also feel the same assurance and work to encompass all who are after reform and prosperity of the Libyan people”.

It is worth noting that the LIA’s combined assets were valued at approximately US$67 billion as of 31 December 2012, a significant portion of which remains frozen under sanctions imposed by the United Nations Security Council, at the express wish of the Libyan Government.

The LIA’s portfolio incorporates indirect and direct investments, approximately 50% are deployed through indirect investments in companies, investment funds and portfolios belonging to the Libyan Foreign Investment Company (LAFICO), the Libya Africa Investment Portfolio (LAIP), the Long Term Portfolio (LTP), the Oilinvest Group and the Libyan Local Investment & Development Fund (LLIDF).

These five subsidiaries report to the Board of Directors at monthly Board Meetings. Although formal meetings may be monthly, the subsidiaries report continuously to the LIA operations team and the executive management.
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Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News
Released:  09/12/20152015-12-09
Word count:  333

Oil prices rose on Wednesday as U.S. crude stocks dipped, while in Asia Japan posted stronger-than-expected machinery orders and China announced an easing of import taxes, lending the market support amid a continuing supply glut.

Play
Reuters
U.S. West Texas Intermediate (WTI) crude futures were at $38.30 per barrel at 0429 GMT, up 79 cents from their last settlement. Internationally traded Brent futures were up 64 cents at $40.90 a barrel.

The firmer WTI prices were a result of a surprise 1.9-million-barrel fall in U.S. crude inventories to 488 million barrels last week. The drop, as estimated by industry group the American Petroleum Institute, compared with analysts' expectations for an increase of 252,000 barrels.

Official figures from the U.S. Energy Information Administration (EIA) are due on Wednesday at 10:30 EST.

Traders said the recovery in Brent was largely a result of short covering, the surprise lift in Japanese machinery orders and Chinese tax reforms aimed at encouraging imports, including of energy-intensive machinery.

Yet analysts said there remained plenty of bearish factors that have helped pull down global commodity prices since 2014, including the strong dollar, weakening demand, soaring supplies and the unwinding of a quantitative easing (QE) premium, with the U.S. Federal Reserve expected to hike interest rates soon.

"A CRB index hovering around 13-year lows and oil prices close to seven-year troughs suggest that commodity producers in general are doing it tough," ANZ bank said, referring to the Thomson Reuters Core Commodity CRB Index falling below 178 points for the first time since 2003.

In oil, a ballooning glut is seen at 0.5 million to 2 million barrels of crude a day in excess of demand, while prices are down by almost two-thirds since 2014. Most analysts say they do not see prices rising much until late 2016 at the earliest.

"Low oil prices will continue to weigh on the sovereign credit profiles of major exporters in 2016," rating agency Fitch said. Fitch forecasts Brent to average $55 per barrel next year and $65 per barrel in 2017.

While producers suffer from low prices, consumers benefit.

"Price falls represent a windfall to consumers and downstream users. The close to 30 percent fall in oil prices since the start of the year presents a major deflationary impulse," ANZ said.

(Editing by Richard Pullin and Tom Hogue)
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Petrovic Dorde
7 months ago

Business News

Business News

A senior delegation from Libya led by the Prime minister Abdullah Thinni and a host of Malta-based Libyan business, with senior members of the Maltese government and business community met last week to investigate commercial opportunities in a new Libya.

Play
Libya herald
Over 100 guests joined together to explore how Maltese businesses might best prepare to play a key role in Libya’s future success. Hassan Bouhadi, Chairman of the Libya Investment Authority (LIA), Ahmed Kashadah, the Managing Director of the Libya Africa Investment Portfolio (LAIP), and Faisal Gergab Chairman and CEO of the Libyan Post, Telecommunications and Information holding company (LPTIC) were also present and took every opportunity to share their vision for joint ventures and foreign direct investment.

Held at the Palazzo Parisio in Naxxar, the evening’s celebrations, aptly called ‘The Past, Present and Future of Malta – Libya Business Relations’, was hosted by Mr. Habib Lamin, the Chargé d’affaires at Libyan embassy in Malta. The event showcased business dealings between the two countries across various sectors and discussed plans to further this collaboration in the near future.

Speaking after the event Prime Minister Thinni said, “Historical ties and existing bi lateral Libya-Malta relations are important at this time as our country moves towards a Government of National Unity. The physical proximity of Malta to Libya is an asset, as is its EU regulation, strong adherence to rule of law and the full support of a vibrant financial and investment community. Today Libyan companies and their subsidiaries are investing in and managing their investments in a significant number of corporations in the region and around the world from Malta.”

He continued, the “LIA, LAIP and LPTIC all have permanent offices in Malta taking advantage of EU regulations offered by Malta and the proximity to Libya. During the recent unrest in Libya the role of these offices located in Malta has grown significantly.”

Historically Libya and Malta have always enjoyed very strong economic ties and dependencies. As the private sector in Libya grew over the last decade so did trade between Libya and Malta, increasing from just over $118m in 2010, to a peak of just over $247.2m two years ago.

All participants agree that the meeting will now help lay the groundwork for Maltese entities to play a key role in the opportunities that will arise once stability and security returns to Libya. History, geography and commercial experience confirms that Malta has always been and still remains the logical partner of choice to aid in these growth opportunities.
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Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News
Released:  08/12/20152015-12-08
Word count:  359

Crude prices remained near 7-year lows on Tuesday as OPEC continues to pump near record oil to defend market share, compounding a glut that has seen hundreds of thousands of barrels produced every day in excess of demand.

Play
Reuters
Benchmark Brent and WTI futures both fell over 6 percent the previous session to reach 2015 lows, and they are closing in on levels last seen during the credit crunch of 2008/2009. Should they break through 2008/2009 lows, the next downward target would be levels not seen since the early 2000s.

U.S. crude CLc1 was trading at $37.77 a barrel at 0300 GMT, up 12 cents from its last settlement but close to the 2015 and 7-year lows of the previous session.

Internationally traded Brent futures LCOc1 were up 27 cents at $41 a barrel, also close to 2015 lows reached Monday. "The decision by OPEC-members to keep oil production output at record high levels ... suggested that the organisation was effectively abandoning its long-term strategy of limiting production and acting as a cartel, leading to more downward pressures on oil prices in the short term," said Sanjiv Shah, Chief Investment Officer of Sun Global Investments.

On the demand side, concerns over China's weakening economy weighed on markets after data showed its November exports had dropped 3.7 percent from a year earlier, while imports fell 5.6 percent.

The oil price rout is also spilling into equity markets, where Asian stock markets teetered near their weakest levels in three weeks on Tuesday as shares of energy firms were hit hard.

The Organization of the Petroleum Exporting Countries failed to agree on an oil production ceiling last Friday after a disagreement between Saudi Arabia and Iran meant that the group for the first time in decades didn't even mention an output quota, which previously stood at 30 million barrels per day (bpd).

OPEC's output of more than 30 million bpd has compounded an oil glut, pushing production 0.5 million to 2 million bpd beyond demand and putting many producers under pressure, especially small-sized U.S. shale drillers that have piled up large amounts of debt.

"As we see higher oil output from (non-OPEC) Russia, Iraq and, most importantly, Saudi Arabia, we are likely to see continued pressure from the resultant low oil prices. This will affect U.S. shale producers as well and therefore an increase in new investment in the sector is unlikely. This will support prices in the medium term," Shah said.

(Editing by Joseph Radford)
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Petrovic Dorde
7 months ago

News Releases

News Releases
Released:  08/12/20152015-12-08
Word count:  118

Jordan is to follow Turkey in introduce visas for Libyan visiting the country. The new regulation will come into effect on 15 December. Not yet been formally announced by Amman, the news was leaked today by a Libyan official.

Play
Libya herald
The decision reflects growing concern in Jordan at the spread of lawlessness and criminality in Libya as well as the rise of the so-called Islamic State.

Amman has until now insisted that it would do everything to help Libya rebuild, and in particular train Libyans in the security sector. Jordan has also been a major destination for Libyans seeking medical treatment although that has tailed off considerably in the past couple of years.

The move means that, the only countries in the region now accepting Libyans without visas are Tunisia, Algeria and Sudan. Egypt does not require visas for Libyan women or from Libyan males under 11 years of age or over 60.

Turkey started visas for Libyans in September.
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Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News
Released:  07/12/20152015-12-07
Word count:  376

Crude prices fell on Monday in the first trading session after OPEC-members failed to agree on output targets to reduce a bulging glut that has resulted in oil prices falling by more than 60 percent since June 2014.

Play
Reuters
The Organization of the Petroleum Exporting Countries failed to agree on an oil production ceiling on Friday at a meeting that ended in acrimony after Iran said it would not consider any production curbs until it restores output scaled back for years under Western sanctions.

This compounded an oil glut that sees production exceed demand between 0.5-2 million barrels per day and that has resulted in a more than 60 percent price drop since 2014.

U.S. crude was trading at $39.58 a barrel at 0038 GMT, down 39 cents. Internationally traded Brent futures were down 16 cents at $42.84 per barrel. This left both benchmarks near 2015 lows and not far off levels seen during the peak of the global financial crisis of 2008/2009.

Analysts said that OPEC would likely maintain its production around current levels of 31.5 million barrel per day and that a decision on how to handle new volumes expected to come to the market once western sanctions against Iran are dropped would be delayed until the group's next meeting in June 2016.

"Past communiques have at least included statements to adhere... or maintain output in line with the production target (of 30 million barrels per day). This one glaringly did not," Barclays bank said.

Not only did OPEC decide to keep its output target high, but analysts said that it would likely continue to exceed its quota as individual members offer discounts to customers in defense of market share.

Barclays said that OPEC faced an "impossible trinity of achieving higher market share, higher prices and higher demand through a nominal target which members continue to breach."

As a result of ongoing oversupply, analysts said that prices would fall further, with Goldman Sachs seeing a possibility of $20 per barrel.

"The effective removal of the OPEC quota leaves the market in a more vulnerable position. Prices are likely to weaken this week as the market turns its attention back on U.S. supply," ANZ bank said, referring to near record U.S. crude inventories of almost 490 million barrels.

"The formal production target was not even discussed, essentially signalling to the market that members would continue production at individual requirements. With Iran exports likely to start increasing next year, this increases the likelihood of further weakness in crude oil markets," it added.

(Editing by Michael Perry)
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Petrovic Dorde
7 months ago

News Releases

News Releases
Released:  07/12/20152015-12-07
Word count:  121

The Central Bank of Libya (CBL) has issued a directive to all local Libyan banks (dated 30 November but published) today that all Documentary Letters of Credit and transfers for goods and services to Tunisia are to be transacted in Tunisian Dinars.

Play
Libya herald
It also ruled that export certificates must be issued for goods or services imported from Tunisia into Libya.

The bank said that this new procedure is prescribed by existing agreements signed with Tunisia.

The move by the CBL is seen as part of its continuing efforts to save its hard currency reserves which have been depleting due to the sharp fall in international crude oil prices and the slump in Libyan oil production.

The prescription by the CBL that imports from Tunisia are to be accompanied with an export certificate are also part of the bank’s efforts to fight corruption in the fraudulent transfer of hard currency out of Libya without goods or services being imported of realistic equivalent value.
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Petrovic Dorde
7 months ago

Business News

Business News

Brega Petroleum Marketing Co. Announcing Pre- qualification for supply & install cathodic protection system for (6", 8",10",16") pipelines at ( Zawia - Ajelat - Jmail -Wetia -Janzor -Tripoli -Musrata -Benghazi -Tubrok) withaccording to general condition, specification and scope of work which are summarized in the following essential items:

Play
NOC
  • Supply & install new cathodic protection system including transformers (TR) , anodes , electric cables , junction boxes , spark  gaps , insulation joint and all accessories required for CP system.
  • Drill deep wells ground beds prox.(fr.50 to 150 meter) with suitable insulated casing to put anodes in.
  • Performance all testes, and commission of the system operation.
  • Dismantling of all electric transformers, junction boxes and electric cables and transferred to Bregastore .

 

So Companies possessing relevant experience, and has technical and financial capabilities are invited to express their interest in participation to execute this project, to submit their files for Pre-Qualification according to the following terms and conditions:

 

1.Fill the PQQ available via  WWW.BREGA.LY/APP_FORM.XLSXand return via email  HIGHERTENDERS@BREGA.LYalso hard copy of PQQ Document to be enclosed with the company’s file.

2. Provide organisation's articles of incorporationa cover letter expressing of interest to participate in the tender, its chart, official evidence attesting registration at the commerce registration office, valid business license , valid tax clearance certificate.

3.Provide the financial status for the last) 3(years (20112-013-2014) authenticated by legal auditor.

4.Provide your previous experience of similar scope of work.

5. Provide list of technical crew and company’s equipment.

6. Full address of company headquarter and its branches, telephone, fax numbers, email & website address.

 

  • Important Notes:

 

  • Only officially assigned representative will be dealt with.

 

  • Documents shall be submitted to the Secretary of the High Tenders Committee in a sealed envelope addressed to Brega Petroleum Marketing Co. High Tenders Committee office, located at Tripoli International Airport Road, Brega’s Finance department building, Tripoli, near Tripoli Oil Terminal .

 

 

  • The invitation to tender and handing over specification and general terms & conditions documents only to companies that found qualified by pre-qualification evaluation final result.

 

  • The closing date for submission of documents is on Monday        14/ 12 / 2015.
  • Any file is not included the required documents will be rejected.

For any quarries please contact High Tenders Committee:

 

Tel. 021 362 0110       - fax  :021 361 9870      -Email: highertenders@brega.ly 

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Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News
Released:  04/12/20152015-12-04
Word count:  389

SINGAPORE, Dec 4 Crude oil prices extended gains on Friday, as the dollar slumped against the euro, although market focus is fixed on an OPEC meeting in Vienna where the group is expected to reiterate its high output strategy.

Play
Reuters
U.S. crude was trading up 23 cents at $41.31 per barrel at 0343 GMT, while internationally traded Brent was up 19 cents at $44.03. Both crude contracts settled up 3 percent on Thursday.

A 3 percent fall in the dollar against the euro over the past 24 hours held sway over oil prices as the Organization of the Petroleum Exporting Countries (OPEC) is widely expected to maintain its output ceiling of 30 million barrels per day (bpd) at its policy meeting on Friday.

"I'm inclined to doubt that OPEC will have much influence on oil prices at this stage," said Ric Spooner, chief market analyst at Sydney's CMC Markets.

"You can never be certain but I think we are unlikely to see any moves by Gulf countries to cut production, and until that happens it's probably not going to make much of a difference to outlook."

The re-entry of Indonesia into OPEC, after a seven-year break, and Iran's plans to ramp up output as soon as Western sanctions on the country are lifted, will have a bigger influence on outlook, analysts said.

"There is some probability that OPEC might in fact announce an increase in its quota by a million barrels a day to accommodate the re-entry of Indonesia as a member," Vyanne Lai of National Australia Bank said.

"It is likely there will be some knee-jerk reaction to prices post the OPEC meeting," Lai said, adding that some of the bigger producers may be forced to cut output to make room for increasing production from Iran.

NAB expects oil prices to stay between the high $40s and low $50s a barrel in the first half of 2016.

Sources told Reuters on Thursday there was little chance of Saudi Arabia making a formal proposal for OPEC output cuts, contingent on co-operation from non-OPEC, as reported by Energy Intelligence.

The euro rallied on Friday, knocking the dollar back, as the latest round of policy easing by the European Central Bank fell well short of market expectations.

A cheaper dollar is a positive for oil markets as it makes greenback-dominated contracts such as crude futures more affordable for those holding other currencies.

Traders are keeping an eye on U.S. non-farm payrolls data due Friday as it could help indicate the timing of a possible U.S. rate hike.

(Reporting by Swetha Gopinath; Editing by Joseph Radford and Richard Pullin)
Comments:

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Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago

News Releases

News Releases
Released:  03/12/20152015-12-03
Word count:  816

Eni North Africa B.V. Libyan Branch (ENI NA), wish to verify the availability of reputable, interested and experienced contractors specialized in providing CUSTOM CLEARANCE as better detailed in “Appendix D”.

Play
NOC

As a result of ENINA evaluation in respect of above required service, only qualified, specialized and experienced vendors will be registered within ENI NA vendor list and will be invited to tender for the above mentioned activities. In case you are interested in participating in our future tenders in order to be an approved vendor, as a first step, we will need to be provided with the following documentation/info:

1.     Copy of certified statement of registration in Libya – Chamber of commerce (Scan copy of the originals plus English Translation);

2.     Company’s profile/brochure;

3.     References & brief description of Works/Goods/Services provided during the last 3 (three) years with regards of Provision of above listed services;

4.     Copy of Tax Certificate (Scan copy of the originals plus English Translation);

5.     Company Social Insurance Code (Scan copy of the originals plus English Translation);

6.     Receipts of the last 3 months Social Security Contribution Payment (Scan copy of the originals plus English Translation);

7.     Company / Group’s structure chart;

8.     Company’s organization chart;

9.     Name of the shareholders, together with the percentage and the title of share ownership; 

10.   Balance sheet of the last three years, with the following information:

  • Capital Value;
  • Net Assets / Shareholders funds;
  • Turnover, latest year available;
  • Main declared activity of the company;
  • Number of registered employees;
  • Holding Company or part of a Group.

 

            Reference is also made to your Shareholding structure for which we kindly ask to provide your most updated information. Specifically we need the disclosure of all “Ultimate Beneficiaries” of your company even when shares are owned by trustees.

 

  • Pre-Qualification Questionnaire duly filled in as per format  attached .

 

ENINA will evaluate the above requested documentation and, if satisfied, as a result of its careful evaluation, will include the applicant in its Vendor List in order to consider your company for future tender processes regarding the subject activities.

Only qualified companies that have proven capability and recent experience of supplying the above required service will be considered for potential tenders for the scope of service described above.

All responses are to be supported by such narrative, organisation charts, resource charts and other information which the company considers necessary to substantiate the individual responses and provide ENI NAwith the required confidence in the company’s capabilities and experiences.

This enquiry shall not be considered an invitation to bid and therefore it does not represent or constitute any promise, obligation or commitment of any kind on the part of ENI NA, to enter into any agreement or arrangement with you or with any company participating in this pre-enquiry.

Consequently, all data and information provided by you shall not be construed as a commitment on the part of ENI NA, to enter into any agreement or arrangement with you, nor shall they entitle your company to claim any indemnity from ENI NA.

All data and information provided pursuant to this enquiry will be treated as strictly confidential and will not be disclosed or communicated to non-authorized persons or companies except
ENI NA.

Documentation shall be saved in Acrobat “.pdf” format and sent via e-mail attachments, at the below email:

e-mail: procurement.department@eni.com

 

Important Note:should your Company not providing the above required specific Service, you are kindly requested to not apply for this pre-qualification process.

 

The closing date for the submission of the above mentioned documentation is fixed to    9/12/2015 at noon (Libyan time).

Comments:

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News
Released:  03/12/20152015-12-03
Word count:  301

Dec 3 U.S. crude prices were hovering just above $40 in early Asian trading on Thursday, after dropping more than 4 percent a day earlier, on an unexpected rise in U.S. stockpiles that is compounding a global supply glut.

Play
Reuters
U.S. crude was trading at $40.23 per barrel at 0005 GMT on Thursday, up 29 cents from its last settlement, but down nearly 14 percent since the start of November.

Crude inventories rose for the tenth straight week, climbing 1.2 million barrels in the week to Nov. 27 in contrast to analysts' expectations of a decrease of 471,000 barrels, data from the U.S. Energy Information Administration showed on Wednesday.

"The market was expecting a modest rundown in U.S. crude oil inventories last week, but API and EIA have reported rises of 1.64 and 1.18 million barrels, respectively, this week," ANZ bank said on Thursday.

The inventory build will add to an oversupply that has caused a 60 percent price fall since June 2014. Oil production already exceeds demand by 0.5-2 million barrels per day.

Warmer-than-usual weather in the northeast United States, a major market for heating oil, and a shale oil boom in the country are contributing to the rise in stockpiles.

Moreover, the Organization of the Petroleum Exporting Countries (OPEC) is widely expected to keep its high output unchanged at a meeting in Vienna this Friday.

"Reports were the majority of OPEC members support a production cut, except for the dominant supplier Saudi Arabia," ANZ said.

Oil prices briefly turned positive on Wednesday after Tehran's oil ministry news agency Shana said that a majority of OPEC members agree on output cuts, but the report also pointed out that OPEC's top producer Saudi Arabia was not supportive of the reduction.

A strong U.S. dollar, which hit its highest against the euro in more than seven months on Wednesday, also weighed on oil prices.

A strong dollar is a negative for oil markets as it makes greenback-dominated contracts such as crude futures more expensive for holders of other currencies.

(Reporting by Swetha Gopinath in Bengaluru; Editing by Michael Perry)
Comments:

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Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago

News Releases

News Releases
Released:  03/12/20152015-12-03
Word count:  254

The Central Bank of Libya (CBL) has today issued further rules and regulations on local banks for the personal transfer of foreign currency for Libyan citizens. The 16 point statement hold the following:

Play
Libya herald
1-There is to be an upper transfer limit of US$ 1,000 equivalent per transfer per person.

2-There is to be an annual transfer limit of US$ 5,000 per annum per person.

3-Transfers are only to be transacted through the use of authenticated National ID Numbers of the sender and receiver (If the receiver is a Libyan national).

4-Transfers are only to be transacted for citizens over 18 years old.

5-Banks must provide an average transfer price whether transferring or receiving.

6-Banks can buy and transfer currency as long as they use CBL approved prices.

7-Clients are not to be charged commission which should be included in exchange prices.

8-Libyan dinars cannot be transferred or received.

9-Banks must use CBL provided forms.

10-Banks cannot transfer money for persons who cannot provide official documentary identification.

11-Banks must respect the rules and regulations on money transfer and money laundering.

12-Libyan banks must provide copy of Libyan money transfer rules and regulations, including anti money laundering and anti-financing of terrorism rules to corresponding banks.

13-Banks must reveal their weekly currency transfers

14-Banks must provide monthly details of transfer including the ID numbers of clients and the destinations of transfers.

15-Banks should create a software system for their currency transfer transactions.

16-Banks must store and make available all transfer records for CBL inspection.

The CBL said that Liban banks will be held liable for breaking all currency transfers rules and will be held liable in any proven part in corruption or the unequal treatment of citizens in the distribution of hard currency.
Comments:

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago

News Releases

News Releases

Tripoli, 01.12.2015(Lana)Local government ministry is to organize municipalities and shift to electronic working system workshop,

Play
LANA - Libyan News Agency
The workshop organized under the theme; Employing digital technology to upgrade and speed up services and simplify procedures aims at decentralization and promote administrative performance and local development.

The workshop to start tomorrow is co-organized with Public Information Corporation.

=Lana=
Comments:

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News
Released:  02/12/20152015-12-02
Word count:  299

The future of oil-rich Libya and its energy supplies may depend in part on the independence of the country's National Oil Corp., Swiss oil trader Vitol said.

Play
UPI
Vitol, the largest company of its kind in the world, said it was working on a supply contract with the NOC that will guarantee the delivery of fuel, including the heavy oil needed to supply all of Libya's power plants and hospitals.

"The U.N. Security Council recently said it was important for NOC to continue to function for the benefit of all Libyans," Vitol Chief Executive Officer Ian Taylor said in a statement. "The key word there is 'continue'. NOC, based at its legal address in Tripoli, has served Libya well by staying independent. We are confident it will continue to do so."

Libya has been divided by the political entities that filled the void left by the collapse of Moammar Gadhafi's government in the wake of 2011 civil war. A member of the Organization of Petroleum Exporting Countries, the country is split along lines of control from an Islamist-backed administration in Tripoli and an internationally recognized government in the east of the country.

The governments of Algeria, France, Germany, Italy, Morocco, Spain, Tunisia, the United Arab Emirates, the United Kingdom and the United States issued a joint statement Friday commending a vote made by Libyan lawmakers in support of a government of national accord.

"Only a government of national accord can begin the difficult work of establishing effective, legitimate governance, restoring stability, and preserving the unity of the country, as expected by all Libyans," the statement read.

Vitol has worked with the NOC this year on fuel deliveries. The company's chairman, Mustafa Sanalla, said NOC can serve as a model for national unity.

"Libya is at a critical juncture," he said in a statement. "A peace can be built around state institutions like NOC, but will be harder to achieve if they fragment. They must be kept intact."
Comments:

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago

Oil & Gas News

Oil & Gas News
Released:  01/12/20152015-12-01
Word count:  383

Crude oil prices were barely changed on Tuesday as traders bet on continued high production from the Organization of the Petroleum Exporting Countries (OPEC) ahead of its meeting later this week.

Play
Reuters
U.S. crude was trading at $41.93 a barrel at 0427 GMT on Tuesday, up 28 cents, but still down more than 10 percent since the start of November.

Internationally traded Brent futures were at $44.77 a barrel, up 16 cents.

"There is a real risk that we could see lower prices," said Ric Spooner, chief market analyst at Sydney's CMC Markets. "The prospects for demand-growth are not large enough to go into the supply overhang."

China's economy showed renewed signs of weakness, with its manufacturing falling to a three-year low, an official survey showed on Tuesday. Although Japan's manufacturing accelerated, it was at low levels.[S7N0Z802A]

In physical markets, Dubai crude fell to the lowest since December 2008, averaging $41.691 per barrel for November, according to price-reporting agency Platts.

OPEC's policy meeting on Friday is not expected to change the organization's strategy, adopted last year, of pumping oil vigorously to protect its market share against U.S. shale drillers and other producers.

ANZ said on Tuesday it expected to see Saudi Arabia, OPEC's biggest producer, keep oil production steady in the face of declining prices.

WTI crude could fall through $40 per barrel in coming weeks if crude oil stocks do not decline in line with seasonal patterns, the bank said.

Financial traders are acting accordingly, with hedge funds' bullish wagers on U.S. crude falling to a more than five-year low amid concerns that a drop in U.S. oil output was not enough to offset a global supply glut.

U.S. government data showed no meaningful decline in shale output despite falling rig counts, adding to a glut that is seeing 0.7-2.5 million barrels per day produced beyond demand.

Oil traders are closely watching a European Central Bank policy meeting this Thursday.

"If we saw selling of the dollar and buying of the euro, it could support the oil prices and give us a bit of a rally," said CMC Markets' Spooner.

A weaker dollar is a positive for oil prices as it makes greenback-denominated contracts cheaper for those holding other currencies.

The dollar dipped slightly on Tuesday after nearing a 13-year high against a basket of currencies.

"It's really a bit of an ECB wild card at the moment," Spooner said.

(Reporting by Swetha Gopinath and Henning Gloystein; Editing by Richard Pullin and Joseph Radford)
Comments:

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago

News Releases

News Releases
Released:  01/12/20152015-12-01
Word count:  69

Tripoli, 30.11.2015(Lana) Al Bariqa Oil company presented a strategic plan for awareness campaign on planning culture at various sites of the company.

Play
LANA - Libyan News Agency
It aims at introducing the plan to take studied steps based on clear future vision to build its institutional capabilities to promote work of the company.

The team would make presentations and lectures at Maitiga Airport depot. It will promote the culture of strategic planning among the staff so it would positively be reflected on implementation of the strategic plan in order to improve performance of the company.

=Lana=
Comments:

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

For further details contact us with the below information....

Contact : Mr. Petrovic Dorde Email: directmandate@gmail.com Skype ID: petrovic.dorde

Petrovic Dorde
7 months ago
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