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

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Libya’s Minister of Economy, Mustafa Abufunas, has called upon foreign companies to participate in Libya’s development.

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Libya herald
Speaking on Wednesday (1 January) at an economic development conference in the Western/Nefusa mountain city of Ghiryan, Abufunas said that his Ministry had put in place plans for alternative sources of revenue for the Libyan economy instead of oil.

Abufunas revealed that a committee had been set up to look into setting up an economic zone involving a number of cities along the coast as well as an economic free zone on the Tunisian border, together with the free zone in Misrata and the economic zone in Benghazi.

The Minister of Economy called on foreign companies to participate in investing in the infrastructure of Libya, and invited them to make their presentations at the forthcoming Islamic Economy conference to be held in Tripoli from 6-7 January.

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Construction News

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Released:  06/01/20142014-01-06
Word count:  73

Development of the city of Ghadames

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Libyan investment
Board for development of the city of Ghadames will implement a number of development projects including construction of reservoirs to supply farms in the old city with water, to establish olive presses and the bus station building.

The local council in Ghadames met a team of experts of EG Irish company specializing in the generation of electricity from solar energy to set up a plant to generate electricity from solar energy in Ghadames.
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Oil & Gas News

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Released:  06/01/20142014-01-06
Word count:  81

Resumption of exploration activity in marine areas

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Libyan investment
French company, Total (TEP) for exploration and drilling in the offshore area resumed operations in drilling the first exploratory well (A1-16/3) after liberation.

The company will also dig a second well after the completion of this well according the program of the contract agreed with NOC.

BP Company will survey marine environmental operation in marine block (c ) granted to the Company since 2007 for the start of drilling the first well of the company in the submerged area expected in July 2014.
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Oil & Gas News

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Released:  06/01/20142014-01-06
Word count:  230

Libya has restarted oil production at the southern El Sharara field with an initial output of 60,000 barrels a day after protesters ended a blockade, the state National Oil Corp (NOC) said on Sunday.

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Ahram online
Tribesmen calling for greater local power had blocked the field since the end of October, one of many disruptions that have crippled Libya's oil sector. Oil production had fallen to 250,000 bpd from 1.4 million bpd in July.

NOC hoped to reach the field's maximum output capacity of around 340,000 bpd within two to three days, spokesman Mohamed al-Harari said. "Production started last night," he said.

Libya is in turmoil as the government struggles to rein in dozens of militias that helped topple Muammar Gaddafi in 2011 but kept their guns to make political and financial demands.

Last week, the protesters at El Sharara agreed to suspend their action after the defence minister visited them and said the government would look into their demands. They want the establishment of a local council and the granting of national identity cards for tribesmen from the Tuareg minority.

The field, located in the remote and volatile south, supplies crude to the western Zawiya export terminal and feeds the 120,000-bpd Zawiya refinery.

There is no sign of progress in the east of the country despite the government's announcement last month of another attempt by tribal elders to pressure an autonomy group to end a blockade of the Ras Lanuf, Es-Sider and Zuweitina ports, which accounted previously for 600,000 bpd.

The group demands autonomy for the east and a greater share of the oil wealth, Libya's main source of income.
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congratulation and go ahead i wish more development

Anonymous
7 months ago

congratulation and go ahead i wish more development

Anonymous
7 months ago

congratulation and go ahead i wish more development

Anonymous
7 months ago

Oil & Gas News

Oil & Gas News Business News
Released:  03/01/20142014-01-03
Word count:  141

Libya's oil production was at 250,000 barrels per day as of December 25, according to oil ministry statement carried by the state news agency LANA.Though the production was up slightly from 224,000 at the end of November it is a sharply drop from July figures of about 1.4 million bpd.

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All Africa
Reuters reported that gas output was at 1.928 million cubic feet on December 25, quoting the oil ministry. The agency did not provide additional details.

A mix of militias, tribesmen and political minorities, which are demanding a greater share of Libya's oil wealth and more political power, have shut most oilfields and ports, cutting oil output from the 1.4 million bpd in July. The seizures have also cut Libya's oil exports to 110,000 barrels a day from more than one million in July.

Libya's oil and gas industry association said on Tuesday it was optimistic the government would soon reach an agreement with protesters occupying major oil export ports for months. It is unclear the amount of the latest production that will be exported but the government has said in a previous statements that the half of the national production is used by local refineries.
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Business News

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Released:  03/01/20142014-01-03
Word count:  68

Libya Education & Training Exhibition : From 02 to 04 February 2014

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libya-expo.ly
About Exhibition

To support the efforts of the Ministry of Higher Education & Scientific Research to raise the level of Education and qualification – and as the basis of countries progress is build the human – the company considered a specialist exhibition contributes to improving the level of qualification to keep up in this field behind developed countries.

• Organiser : Libya International CO

• Date: From 02 to 04 February 2014

• Place: Tripoli University
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Business News

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Released:  03/01/20142014-01-03
Word count:  354

Tripoli, 2 January 2014: A workshop on Libya’s external trade agreements was held at Tripoli International Fair today.

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Libya herald
The workshop entitled “Bilateral and Regional Trade Agreements – their effects on the national economy’s capabilities in realizing development aims” was organized by the Ministry of Economy (www.ect.gov.ly) and sponsored by the Libyan Board of Fairs (www.libyafairs.com) and the Privatization and Investment Board (PIB) (www.investinlibya.ly).

Opening the workshop, Hassan Ben Taher, Consultant at the Ministry of Economy, said that “diversification is the main economic challenge and is on top of the development agenda facing Libya. The transformation of Libya’s economy to a sustainable basis means that the government has decided to set relationships with the rest of the world as well as with the private sector as well as academics”.

Ben Taher said that “the problem was not in the external trade agreements but it is in Libya’s economy. That is why Libya has not joined the World Trade Agreement (WTO)”, admitted Ben Taher. “We must prepare cadres that are capable of negotiating our WTO entry”, he added saying that the process was not easy to those not prepared for the process.

“There must be a plan to raise the standard of the local economy so that it is ready to join the WTO. Joining now could be harmful to our economy. We need to activate the “Competitiveness Council” hopefully in January 2014″. Ben Taher explained that if Libya did not have competitive sectors to protect, it could not negotiate for their protection.

“We must be aware of the negative effects on the private sector which will be affected in the forms of adjusted taxes and customs duties”.

“There are areas where we do not have a competitive advantage, for example, so we can remove customs duties, but there are areas where we have some competitiveness. We cannot compete overnight with economies that have been competitive for thousands of years. The removal of customs duties has to be staggered”, explained Ben Taher.

Examples of trade agreements that Libya was part of given at the workshop were: the Maghereb States Agreement, the Agreement with the EU, the Economic Partnership with Turkey and the Agadir Agreement.
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Oil & Gas News

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Released:  02/01/20142014-01-02
Word count:  271

While North African producing powerhouse Libya’s capacity is nowhere near its heyday volumes, which would mean pre-civil war volumes, it has seen a small increase in the past month. According to an oil ministry statement carried by the country’s state news agency LANA, production is now at 250,000 bpd, up just over 25,000 bpd from numbers reported at the end of November.

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Petroleum Africa
Libya’s gas output was at 1.928 Mmcf/d as of December 25, the oil ministry said. Previous totals on gas production were not stated.

Helping Libya keep up some semblance of production is ENI. The company reported in mid-December that its production in Libya was currently running at 242,000 boepd. Prior to the civil war the Italian firm was responsible for 272,000 bpd of oil alone. Chief Executive Paolo Scaroni at a meeting said the company’s latest numbers had not been seen for many months.

Scaroni also told reporters that the Wafa field had restarted and that the Mellitah complex was working well. “We are still stopped in the east of the country but that’s only a small thing for us.” During the civil war to oust Qaddafi the country’s production numbers dropped to almost nil, however; despite the pessimism in regards to bringing its production numbers back up quickly, the industry was able to reach almost pre-civil war levels before protests and blockades brought these totals tumbling back down.

A whole host of different groups; militias, tribesmen and political minorities alike have been demanding a greater share of Libya’s oil wealth and more political power, this has led to the shut in of a substantial amount of oilfields and ports, cutting oil output from the 1.4 million bpd in July. The seizures have also cut Libya’s oil exports to 110,000 bpd from more than one million in July.

The government has shown some optimism in settling the issues that have caused the shut ins and are expected to reach an agreement with protesters occupying major oil export terminals for months.
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Oil & Gas News

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Released:  02/01/20142014-01-02
Word count:  127

(AFP) Production at two oilfields in southern Libya has restarted after it was suspended for several months, a national oil company official said on Monday.

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Libya .tv
Mohamed al-Harairi of Libya’s National Oil Corporation (NOC) told AFP the Sarir and Msala oilfields had “resumed production on Sunday”.

Electricity production in the North African nation has been affected since July when armed protesters demanding regional autonomy blockaded the main oil facilities in the east.

Oil output has plunged to about 250,000 barrels per day from nearly 1.5 million bpd normally. Foreign firms tasked with repairing power plants damaged in the uprising have also pulled out staff in the face of persistent unrest.

The NOC spokesman said the Al-Hariga export terminal in eastern Libya, which has been closed for several months due to protests by local people, would reopen soon after negotiations with protesters.

Oil is Libya’s main resource, and accounts for 80 percent of state revenues.
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Business News

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Released:  02/01/20142014-01-02
Word count:  158

The High Committee for the Advancement of Agricultural Industries organised a workshop in Tripoli yesterday attended by the Minister of Industry, Sulieman Latief.

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Libya herald
The workshop’s main focus was to review the present status of the agricultural manufacturing sector as well as putting in place a strategy that would develop the sector.

The workshop also suggested that a national forum be held including all the possible stakeholders in this sector in order to come up with initiatives and proposals for progressing the sector as well as identifying the obstacles to its underdevelopment.

In his opening remarks, Minister of Industry, Sulieman Latief said that he hoped that this workshop would help in creating an industrial/manufacturing and economic centre in Libya which would through SME create job opportunities.

The workshop also stressed the need for the sector to “add value” to agricultural products and put in place policies for better cooperation between the private and public sector.

It also saw the food or agricultural industry as an important diversification of Libya’s economy away from the overwhelming dominance of the hydrocarbon sector.
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Oil & Gas News

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Released:  01/01/20142014-01-01
Word count:  308

ANNOUNCEMENT OF GAS DISCOVERY IN GHADAMES BASIN

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National Oil Corporation - NOC

National Oil Corporation (NOC) announces that , Sonatrach (SIPEX) Libya (Operator) , Oil India, and Indian Oil being partners in an Exploration and Production Sharing Agreement (EPSA IV) in area 95/96 in Ghadames Basin signed in May 2008, report initial information concerning the exploration (New Field Wildcat) well B1-96/01 drilled in the Contract Area.
The well is located approximately 650 km southwest of Tripoli and 70 km south of El-wafa Field. The initial production test result from the Devonian Formations is as follow:
c


Formation

Tested Interval
(feet)

Choke Size
(Inch)

Gas Rate
(MM CF/d)

Condensate
BBL/day

WHP
(PSI)

Tadrart

7628-7680

32/64

12

250

2145

Awaynat Wanin

7092-7164

32/64

9

245

1635

Tahara

6332-6355

32/64

8

231

1778

c
c
The B1-96/01 well is the third discovery well in this contract area drilled by the operator (Sonatrach).


 

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Business News

Business News
Released:  01/01/20142014-01-01
Word count:  175

The Libyan carrier Afriqiyah took delivery of its latest Airbus A330-200 Airbus aircraft yesterday to join its growing fleet of aircraft. The craft arrived at Maetiga airport.

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Libya herald
The latest aircraft boasts all the latest features, Afriqiyah reported. In business class, for example, there are 18 luxury seats providing better comfort and privacy.

The seat declines into a fully equipped bed with a separate reading light and a 12.1 inch screen and a backrest that includes a massager, an electric source for charging electronics, and the ability to make international phone calls.

The economy section has a capacity of 243 seats equipped with comfortable armchairs with intervals of not less than 32-inches as well as individual 9.6 inch display screens pre-loaded with software and games.

It is worth noting, however, that Afriqiyah Airways, like its counterpart Libyan Airlines, is still not allowed to fly its own aircraft in EU airspace, following the latest meeting of the EU Air Safety Committee in November.

Since the revolution the airliner has had problems with regards to standards, with certification of pilots being one of the main reasons for the so-called voluntary ban imposed by Afriqiyah on itself.

Afriqiyah, will therefore, continue to use “wet-leased” aircraft to service its EU routes.
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News Releases

News Releases
Released:  31/12/20132013-12-31

LibyaBusiness.tv team hopes you have a happy new year.

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LBTV Team
*
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Business News

Business News
Released:  31/12/20132013-12-31
Word count:  79

Workshop in Tripoli on external trade on 2nd January

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Libya herald
Tripoli, 30 December 2013:

The Ministry of Economy through its Privatization and Investment Board (PIB) and with the General Board for Trades, is organizing a workshop on external trade for both the private and public sectors.

The workshop is being held under the title: “The regional and bi-lateral and its effects on the capabilities of the national economy in realizing development goals”, and will be held on Thursday 2 January 2014 at the Mar Al-Mukhtar hall at the Tripoli International Fairgrounds.
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Business News

Business News
Released:  31/12/20132013-12-31
Word count:  99

Dec 30 (Reuters) - Libya has launched a financial regulator, state media said on Monday, to try to improve transparency and attract more foreign investment to its small stock market.

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Reuters
The new body will supervise the country's non-banking financial industry and stock market, bourse director Ahmed Karoud said, according to state news agency Lana.

"It will strengthen the investment culture in Libya and boost confidence in the bourse," he said.

Libya has been trying to attract investment outside the dominant oil sector but a volatile security situation has deterred many foreign firms.

The government has been also planning to overhaul investment laws and reform the outdated banking sector since the overthrow of Muammar Gaddafi in 2011 but political infighting has hampered decision-making.

(Reporting by Ulf Laessing; Editing by Alison Williams)  
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Business News

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Released:  30/12/20132013-12-30
Word count:  279

General Electricity Company of Libya (GECOL) hereby calls tenders for constructing a new seven (7) fuel tanks in: Benghazi North, Al Khums, Musrata, and Al Hira power plants

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General Electricity Company of Libya (GECOL)
Thus, it is on all companies who have the technical and financial capabilities, which qualifies them to engage in this tender, to deliver their offers regarding they verify the following important general conditions:

- To be registered officially at GECOL before the date of opening technical
offers.
- The offer should be by a manufacturing company or by its official
representative in Libya
- Offer validity should be at least four months from the date of submission.
Also, consider that:
- the tender includes erection and operation testing
- this announcement is a part of the terms of reference
- tendering committee is not obligated to accept the lowest financial offer
- tendering committee has the right to divide the tender into parts
- technical offer should include the all information about the company's experience in the field of tender, technical staff, and machines and equipment
Tender documents will be available for sale, at the central tendering committee, starting from 02/12/2013 against a value of (1000 LYD) 0ne hundred Libyan Dinar cash or certified check to the General Electricity Company of Libya (GECOL) non refundable.
The offer must be submitted before Thursday 30/01/2014 at (12:00) noon Libyan local time in two sealed envelopes.

Envelope A: Technical offer and Envelope B: Financial offer with (original + one copy),

to the following address:
GECOL
Central Tendering Committee
Main Building
Tripoli – Al Swani road
Tel.: 091 220 4783
Fax.: 021 480 2337
Email: m.gallay2@gmail.com
For any technical enquiries please contact: 0918798097
Or email to: saoaleash@gecol.ly
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Business News

Business News
Released:  30/12/20132013-12-30
Word count:  108

Jordanian vessels are to begin a regular service bringing motor vehicles from Aqaba to Benghazi. It is expected that a ship will be arriving every ten days with around 600 cars and trucks.

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Libya herald
The director general of the Aqaba Ports Corporation has said that he hopes the new link “will play a significant role in developing Aqaba as a logistics and services hub for the Libyan reconstruction efforts, and consequently have a positive effect on Jordan’s economy.”

The shipping of motor vehicles from Jordan to Libya is not new. In March this year a consignment of 597 vehicles loaded in Aqaba on board the Ukrainian-owned MV Faina bound for Benghazi ended up in the Ukraine. As a result the MV Etel a sister ship operated by the same Tomex Team shipping company was detained in Benghazi in August for six weeks.

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Business News

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Released:  30/12/20132013-12-30
Word count:  174

In efforts to strengthen bilateral economic ties, the Public Authority for Investment Promotion and Export Development (Paiped) recently welcomed representatives from the Libyan Export Promotion Center.

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Muscat daily
As part of the visit, Paiped organised a series of meetings with various public and private sector bodies to discuss and review means of promoting joint economic investment opportunities. Meetings were held with the Export Credit Guarantee Agency of Oman, the Public Authority for the Development of Small and Medium Enterprises, the General Directorate for Investment Promotion and Export Development, the Directorate General of Customs, the Rusayl Industrial Estate and the Industrial Innovation Center.

The delegation also visited the Sohar Industrial Estate, the Sohar branch of the Oman Chamber of Commerce & Industry in addition to the Sohar port, a press release said.

“Boosting relations with various export promotion centres around the world plays a key role in identifying new avenues for growth, enhancing business opportunities and evaluating the market potential of Omani products internationally,” said Nasima al Balushi, director general of export development at Paiped.

“The Libyan market is very promising for Omani products and we are confident that the Libyan delegation’s visit will result in fruitful gains for both Oman and Libya.”
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Oil & Gas News

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Released:  27/12/20132013-12-27
Word count:  325

A conference was held on Wednesday in Tripoli organized by Sirte Oil Company and the NOC entitled “The Gas Transport Network – the present and future needs”.

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Libya herald
The two-day conference looked at Libya’ present gas distribution and consumption as well as its future needs. An introduction to the present pipe network delivering gas to all the main users and consumption centres such as electricity stations and the Libyan Iron and Steel company in Misrata (LISCO), was made.

In response to comments about the problems of gas delivery to power stations from a GECOL engineer, NOC head Nuri Berruein said “We are facing many technical and other problems such as employee issues and the various conflicts which are disrupting supplies. Also because of the security situation, some sites are not working currently.”

However, allaying fears of shortages of gas supplies for future power generation, the NOC head said that there were “numerous likely new sources of large gas supply being explored and on the verge of being developed” such as the Fara field which could produce 160 million cubic feet and that AGOCO was also exploring gas fields in the Hamada Hamra region.

He estimated that these would take about two years to develop, but felt that” by 2020 Libya would have a gas surplus”.

Regarding the current gas distribution network, Burreuin admitted that it was old and needed upgrading, and that there is a committee studying this.

The NOC head confirmed that Libya had the “potential to produce large quantities of shale gas”. He accepted that Libya did not have enough experience in this field yet, but added that Libya would acquire this experience.

He explained that the development of shale sources are more expensive, consume large quantities of water and cause more environmental stress.

Ultimately, while the NOC head admitted that there were gas delivery problems to GECOL in the short term, he was confident that there were large gas reserves for long term supply.

He hoped that after security stabilizes in Libya and the situation at power stations stabilizes, supplies would also stabilize and that there would be no long term issues.  
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Business News

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Released:  27/12/20132013-12-27
Word count:  120

A delegation from the Libyan-Maltese Chamber of Commerce visited Tripoli last week and held various meetings related to commercial relations between Malta and Libya.

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Times of Malta
Meetings were held at the Libyan Ministry of Foreign Affairs (European Countries Section), The General Union of Libyan Chambers of Commerce and Agriculture, the embassy of Malta and the office of Malta Enterprise.

They discussed plans for a trade mission to Libya in the first quarter of 2014 and ways to improve trade links particularly in the construction, information and communication technology, education, health and the financial Services sectors.

"In-spite of the fact that the country is still struggling to bring about political stability and maintain security, there is significant cause for optimism, considering the vibrant economical development of the private sector after the revolution and it is evident that now is the time for Malta to act," the Chamber said.
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