Oil prices driven up by futures bets, but market remains bloated

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Oil prices driven up by futures bets, but market remains bloated
Released:  12/06/20172017-06-12
Word count:  370

Oil prices rose on Monday as futures traders bet the market may have bottomed after a recent steep fall, even as physical markets remain bloated by oversupply, especially from a relentless rise in U.S. drilling.

Reuters
Brent crude futures were trading at $48.41 per barrel at 0246 GMT, up 26 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $46.07 per barrel, up 24 cents, or 0.5 percent.

Traders said that the price rises came on the back of speculative traders upping their investment into crude futures, by taking on large volumes of long positions, which would profit from a further price rise.

The rise in new long positions comes after Brent and WTI crude futures have fallen by around 10 percent below their opening levels on May 25, when an OPEC-led policy to cut oil output was extended to cover the first quarter of 2018 instead of expiring this June.

"Wall Street's oil bulls have reset for a technical bounce," said Stephen Schork, author of the Schork Report, which specialises in oil and gas market analysis.

While the financial market seems to have some confidence that prices may have bottomed out, the physical market remains bloated, especially due to a rise in U.S. drilling for new oil production.

U.S. energy firms added eight oil rigs in the week to June 9 , bringing the total count up to 741, the most since April 2015, energy services firm Baker Hughes Inc (BHI.N) said on Friday.

This ongoing drive to find new oil has driven up U.S. output by more than 10 percent since mid-2016, to over 9.3 million bpd, a figure the U.S. Energy Information Administration (EIA) says will likely rise above 10 million bpd by next year, challenging top exporter Saudi Arabia.

Soaring U.S. output threatens to undermine an effort led by the Organization of the Petroleum Exporting Countries (OPEC) to cut almost 1.8 million bpd of production until the first quarter of 2018 in order to tighten markets and prop up prices.

Despite this, Russian energy minister Alexander Novak said on Sunday said on Sunday there was no need to review the agreement on reducing oil output as it was too early to make any decisions.

Russia, not a member of OPEC, is the world's biggest oil producer but it is participating in the production cuts. Saudi energy minister Khalid Al-Falih made similar statements over the weekend.

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

Business News

Business News
Released:  24/05/20182018-05-24
Word count:  93

Libya’s National Oil Corporation (NOC) announced that on Sunday (20 May) a quantity of propane gas estimated at 61.761 barrels was shipped to Italy from Zueitina oil port on board the tanker Gas Concord.

Play
Libya herald
The NOC said that the shipment is the first of its kind to Italy since the Zueitina gas plant stopped operating four years ago.

It will be recalled that the NOC had also announced in April that production of ethylene and polyethylene were to start production at its Ras Lanuf complex ‘‘soon’’.

It should be noted that the Ras Lanuf ethylene plant has been inactive since 2011, and the polyethylene plant has been suspended since 2013. The plants are awaiting necessary maintenance and the re-commissioning of the refinery to provide the necessary feedstock raw material.
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Business News

Business News
Released:  23/05/20182018-05-23
Word count:  64

Italy will finance a two million euro project to improve garbage collection and waste management in Tripoli, ambassador to Libya Giuseppe Perrone said on Monday.

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adnkronos
"Let’s protect the environment together and make the make the Bride of the Sea even more beautiful," Perrone tweeted on Monday.

Like other cities in Libya, Tripoli is garbage is piling up in the streets of Tripoli amid the failure of state bodies to solve the long-standing problem, the Libya Observer newspaper reports.

No immediate details of the Italian-funded waste-disposal project were available.
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2 days ago

Business News

Business News

The Governor of the Tripoli-based Central Bank of Libya (CBL), Saddek El-Kaber, has instructed the CBL’s Anti Money Laundering Crimes Unit to open an urgent investigation into a number of Libyan companies accused by the Audit Bureau of smuggling hard currency through documentary letters of credit.

Play
Libya herald
The CBL said, in a statement issued yesterday, that the Governor has requested that the Audit Bureau urgently forward any evidence it holds on the accused companies for the CBL’s Anti Money Laundering Crimes Unit to take any necessary action needed.

In the meanwhile, the CBL said that it will refrain from publishing the names of the accused companies in case it negatively affects the investigation.

The CBL stressed that the confirmation of the opening of documentary letters of credit originates from the relevant department of the Presidency Council’s Ministry of Economy, which is in turn overseen by the Audit Bureau.

To this end, the CBL expressed its surprise that the Audit Bureau had approved the opening of LCs in the first place for the companies it is now accusing of hard currency smuggling.
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SIVAJOTHI GNANATHEEVAM
2 days ago

Business News

Business News

Mellitah Oil & Gas B. V. (Gas Division)intends to inviting local & foreign specialized companies that have established themselves in the ability & competence to carry out the required work, by presenting two (2) files as follows:

Play
NOC

       File for Legal and Financial documents.

       File for Technical documents includes (Technical profile, experience, CV,….etc.)

 

For the purpose of evaluation and pre-qualification in order to select suitable and eligible companies to participate in the following tender:

 

Tender No. PRQ/740/MCX/18

 

Provision of Pest Control Services at Mellitah Complex

Scope of Work

The scope of work is to provide pest control services (such as insects & small dangerous animals) at Mellitah Complex located (90 Km western Tripoli) in compliance with Libyan environmental laws and regulations and according with the environmental standards of Mellitah Oil & Gas B.V. Libyan Branch. Also, abide by the laws and controls of industrial facilities wherever necessary, the required work shall include the following :-

 

•        Conduct a site survey to assess technical and logistical needs.

•        Provision of treatment facilities equipment and storage to be used for the pest control activities.  

•        Preparation of periodic management reports regarding the implementation of monthly and annual work on site.

QUALIFICATION REQUIREMENTS:

Interested companies for the above tender must satisfy the stipulated requirements and submit all required information and documents below. Taking into consideration that failure to submit these documents will render automatic disqualification:

1.      Letter on Company's letterhead Addressed to the Contracts Department Manager (Gas Division) including (E-mail, Phone No., Mobile No. etc) stating expression of interest on the respective tender.

2.      The Participating bidders must be having the necessary licenses, all legal documents and registered in Libya to be valid for not less than six (6) months from the date of the announcement.

3.      Curriculum Vitae of Professionals assigned for this project be attached. They should have a good experience in dealing with pesticides.

4.      Company Profile with full details and certificates of   previous experience in Libya or worldwide in the field of work to be implemented and any additional information that will enhance the potential of the applicant.

   

5.      The bidder should have a minimum three years of experience related to the scope of work for this Tender, and shall submit a list of clients and projects details.

6.      The bidders shall have advance knowledge of local and international environmental regulations to perform the work activities.

7.      Health , Safety, Environment & Quality (HSEQ): The bidders shall provide the following:

7.1 Company's approved HSEQ manual attached with the company's approved HSEQ policy.

7.2   Company’s HSEQ Procedures list.

7.3   A clear understanding and detailed procedures for pest control services to perform the work properly.

 

8.      Submission of Company's Financial Status documents turnover for the last (3 years) accredited and approved by external financial auditor.

1.      Mellitah Oil & Gas has the right to exclude any file does not meet the above stipulated requirements.

9.      In case of Joint Venture Companies / agreements;   bidder must clearly & define the expected role of each entity in this project, especially in Project management, Engineering, procurement, delivery, Installation and commissioning services.

The required Legal documents from participating companies are as follows:

Local Companies:- 

       Copy of valid commerce registration and official registration certificate with Chamber of Commerce.

       Copy of Valid Business License. 

       Original copy of Valid Tax Certificate.

       Company Establishment Contract.

       The participating Bidder registered activity should be agreed with Scope of work of Service or project that will be implemented.

Joint Venture Companies and agreements:-

A)      J.V Companies     

Submission of documents indicating the establishment of a joint venture company in accordance with the legislation and regulation in Libya, whether between two parties (local and foreign) or two local parties, in addition to other legal requirements that mentioned in the item of local company.

B)      The Agreement (Solidarity)

       All Solidarity parties should be registered in Libya.

       The agreement shall be ratified by the competent authorities (contract editor).

       The agreement shall include the commitment of the solidarity parties together or individually to carry out all the required works and services. 

       The agreement should clarify the legal representative for the parties.

       Cannot be submit separate offer by one of the participants or in solidarity with another contender to participate in the tender.

Foreign Companies

 

Matching with the same above mentioned conditions and requirements for local companies, in addition to submit a valid permission from Libyan Ministry of Economy to open foreign company branch.

Notes:

 

One hard copy & one soft copy (CD) of the Prequalification Documents containing the above stated requirements shall be submitted in sealed envelopes and marked:

 

TENDER NO.  PRQ/740/MCX/18

 

Provision of Pest Control Services at Mellitah Complex

Addressed to the " Contracts Department Manager "

( Gas Division ) to the following address:

Mellitah Oil & Gas B.V. Company ( Gas Division)

Dat El-Imad Complex, Tower 1 - 4th Floor

P.O. Box 91651 Tripoli-Libya

The prequalification submission Date not later than

 

 17/6/2018

Soft Copy can be submitted to the following email address:-

PREQ-GAS@Mellitahog.ly

 

Important Notes:

1.      The prequalification’s request is not an invitation to tender. Company is neither committed nor obligated to undertake the work described above or to issue any call for tender or to include any respondent to this invitation or other company on any Bidders List or to award any form of contract.

2.      The Invitation to Tender (ITT) and full ITT Package will only be issued to qualified companies that have been pre-qualified.

3.      Company will not be responsible for what's ever costs incurred for preparation and submission presented in response to this notice.

4.      Company shall deal only with authorized officers of the bidding companies and not through individuals or agents.

 

5.      Mellitah Oil & Gas B.V. Libyan Branch has the right to extend the submission deadline of tender if necessary for a further period. The additional period shall be automatically re-announced on the MOG and NOC website after or before the announcement deadline of the tender.

 

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Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago

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Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago

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Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 days ago

Business News

Business News

The Tripoli-based Central Bank of Libya (CBL) has warned that ‘‘virtual currencies’’ such as Bitcoin, are illegal in Libya and that there is no ‘‘legal protection’’ for those using them.

Play
Libya herald
In a statement issued Tuesday, the CBL warned that virtual currencies could be used for illicit activities, money laundering and financing of terrorism.

It also pointed out that any financial activity within Libya, including dealing in virtual currencies, needs prior licencing from the CBL.
Comments:



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 days ago

Business News

Business News

The second phase of the processing and linkage work of the Bahr-Essalam Project was successfully completed through the linking of new marine gas production wells to the platform, Libya’s National Oil Corporation (NOC) announced today.

Play
Libya herald
It will be recalled that the NOC had announced in March that the Sabratha platform in the Bahr Essalam gas field would be under maintenance for two weeks from the start of April.

Bahr Essalam is located about 110 km from the coast of Tripoli. It produces 995 cubic feet of gas and 36,000 barrels of condensate per day. It is operated by Mellitah Oil and Gas, a joint venture between the NOC and Italy’s Eni.

The aim of the project was to maintain the rates of offshore gas production to ensure that the local market supply was stable, with natural gas requirements for the regular operation of power plants and industrial units, the NOC revealed.

Concurrent maintenance work has also been successfully carried out to connect the new wells to both its marine platform, its industrial complex and the Wafa field.

However, the NOC said that the maintenance work programmed at its naval platform was delayed due to unstable weather in the area.

Production resumed from the platform after completion of the linkage and maintenance work on 11 May with a daily production rate of 380 million cubic feet of gas and work is under way to gradually increase production to reach normal rates, the NOC said.
Comments:

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Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 days ago

Business News

Business News
Released:  16/05/20182018-05-16
Word count:  340

TRIPOLI, May 14 (Xinhua) -- Libya's General Authority for Communications and Information on Sunday said that Chinese companies are strategic partners to develop the telecommunications sector in Libya.

Play
Xinhua
The comments came during a workshop organized by the Authority in the capital Tripoli, titled "Postal Addressing: Necessity or Accessory."

The one-day workshop discussed a project to facilitate electronic connectivity and services.

"The Chinese companies are strategic partners for the development of the telecommunications sector in Libya," Adel Ehmedat, director of the Organization Department of the Authority, told Xinhua.

"They provide a great addition and service to the Libyan telecommunications sector, in terms of development of networks of telephone, mobile and fixed-line billing systems, as well as technical support of training and provision of spare parts for communication stations," Ehmedat said.

"We are talking about China's telecoms companies Huawei and ZTE. They have provided their services in the most difficult circumstances and have been with us most of the time. We are very grateful and look forward to further cooperation with the two companies," Ehmedat added.

Most foreign companies left Libya due to security deterioration following the overthrow of former leader Gaddafi's regime in 2011, when most development projects of electricity, water and housing were suspended.

Despite such problems, Chinese telecommunication companies remained in Libya and continued to operate despite the obstacles they face, making them the only foreign companies operating in the country in time of political division and economic decline.

The state-owned Libya Telecom and Technology Company (LTT) launched earlier this year the first phase of the 4G high-speed Internet service, implemented by the Chinese Huawei.

The first phase of the project was launched in six Libyan cities, including Tripoli and Benghazi.

The Libyan official spoke highly of the importance of the fiber optic project by the Chinese companies and seeking study chances for resuming the rest of the project.

"Libya has a fiber optic network of more than 12 thousand km. The first phase was completed in 2012, but then stopped. Now, the project is being studied with Chinese companies and we seek resuming and completing the remaining stages of the project," He added.

Ehmedat confirmed that future development of telecom sector with Chinese companies has promising and important opportunities.
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 days ago

Business News

Business News
Released:  15/05/20182018-05-15
Word count:  718

The U.S. is to help Libya reform its electricity sector. In April the Libya Electricity Sector Reform Task Force held its first meeting in Tunis. It was organized by USAID and Libya’s state-owned monopoly, the General Electricity Company of Libya (GECOL).

Play
Libya herald
In response to a request for further information about the deliberations of the April meeting and the aims of the Reform Task Force, the U.S. embassy in Tripoli (currently in Tunis), has provided Libya Herald with further details.

In early 2018, and as recommended by GECOL, the head of the Presidency Council Faiez Serraj authorized the Minister of Planning to form the Electricity Sector Reform Task Force. The Task Force was charged with the development of strategic policy, regulatory and operational measures to support a sustainable Libyan electricity sector.

The Task Force held its inaugural meeting on April 13, 2018. The Task Force will lay the groundwork for the eventual establishment of an independent electricity sector regulatory body for Libya. The creation of this Task Force is key to establishing the needed policies for electricity sector regulation as well as the regulatory authority with a clear mandate, separate from that of the GECOL.

The members of the Task Force have been chosen by the Presidency Council because they play a significant role in the electricity sector. They include customers, suppliers, and independent entities. The Task Force will meet once a month.

In the short-term, the Task Force will focus on the adaptation and recommendation of a clear GECOL-developed electricity sector policy which is based on international best-practice for electricity sector utilities, and the introduction of an independent regulatory authority for the electricity sector.

Through this Task Force, the Presidency Council is taking important steps to reduce waste and provide more access to electricity for all the Libyan people. U.S. assistance to Libya’s electricity sector is a response to a request from the Presidency Council to help identify causes of an ongoing electricity supply crisis in Libya and to recommend strategic actions to alleviate that crisis.

The U.S. Government is making expert advice available to support the work of the Electricity Sector Reform Task Force as it seeks to improve reliable electricity to the people of Libya.

The U.S. Agency for International Development (USAID) is helping GECOL consider best practices of well-run international electric utilities and providing technical assistance to help implement specific activities.

USAID will conduct workshops for GECOL staff, and other electricity sector stakeholders, highlighting best-practices in commercial loss reduction, energy conservation and revenue enhancement.

With USAID assistance, GECOL developed the Electricity Sector Reform Roadmap in 2017. The goals of this Roadmap are:



Create a financially self-sustaining electricity sector. Provide universal access to electricity for all customers willing to pay for the service, taking into account affordability. Ensure reliable supply. Encourage private sector participation and involvement to support electricity service delivery and economic growth, including investment in large scale electric infrastructure projects.



GECOL has taken steps to improve Libya’s access to electricity by re-establishing the high voltage transmission connection between the Western and Eastern part of the transmission grid and by Installing off-grid solar power in a hospital in Sabha.

Looking forward, to ensure the long-term survival of the electricity sector, GECOL is planning to take the following steps:



Reduce and eliminate customer electricity curtailments resulting from electricity shortages. Reliability is a cornerstone of a well-functioning electricity sector.

Reduce commercial losses which have resulted from a combination of below-cost tariff charges, technical losses, electricity theft, under-billing, and non-payment of billed charges. Currently, to keep GECOL operating, the government subsidizes this huge deficit. Significantly improving the cost-efficiency and sustainability of electricity service provision in Libya will require a drastic reduction in the commercial losses.

Improve its accounting and recordkeeping to properly track commercial losses to accurately account for commercial losses, institute best practice compliant accounting records must be created for operational, regulatory and financial purposes and adhere to principles established by the International Accounting and Financial Reporting Standards Board (IFARS).

Roll out the Electronic Invoicing and Notification System, installed at GECOL with USAID assistance to improve billing and collections, and consolidate its billing systems into one centralized system. In addition, introduce and improve mobile payment technology so that more customers can pay their bill by phone.

Adopt energy conservation measures to reduce demand and waste so that the electricity supply can be managed more efficiently. USAID has and continues to introduce to GECOL international best practices in energy conservation, including benefits derived from replacing traditional incandescent light bulbs with high efficiency LED light bulbs, and others.
Comments:

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Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

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Robert Glen
16 hours ago



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Dear Sir/Ma,

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SIVAJOTHI GNANATHEEVAM
2 days ago

Business News

Business News
Released:  14/05/20182018-05-14
Word count:  65

In a very brief statement, the Central Bank of Libya (CBL) announced today that it has agreed with the Faiez Serraj-led Presidency Council (PC) on the 2018 budget totalling LD 42.5 billion.

Play
Libya herald
The CBL stated that the budget included an agreement to establish a mechanism to follow up on the budget’s implementation in order to ensure their proper implementation and in order to ensure the allocated amounts are spent for the goals set for them.

The statement gave no further details. There has been no confirmation or comment from the Presidency Council on the CBL statement.
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

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are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Dear Sir/Ma,

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

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

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 days ago

Business News

Business News

The signing of a statement of intent by representatives of Libya’s National Oil Corporation (NOC) this week could mean “big business” for Aberdeen, said councillor Barney Crockett.

Play
energy voice
Mustafa Sanalla, chairman of the NOC, met with Aberdeen council officials and attended a roundtable hosted by Oil and Gas UK to discuss future collaboration between each country’s energy sectors.

The roundtable meeting saw Mr Sanalla and an international trade delegation from Libya meet heads of trade and energy.

The visit included discussions on technical training, advanced technology, offshore and onshore developments and early production facilities, including management of mature fields.

Mr Sanalla said: “Our Libyan delegation including senior NOC and subsidiary staff are in Aberdeen to discuss and focus on great opportunities for reconstruction and investment in the oil and gas sector in Libya. This forum is very important because it re-affirms our commitment to work with the highest qualified consultants, vendors and ancillary service providers of the industry.”

Afterwards, at a dinner organised by the Libyan British Council, Mr Sanalla signed a statement of intent between the NOC and the city of Aberdeen to undertake future work together.

Mr Crockett said: “I think it opens up tremendous possibilities for the area. [Libyan oil officials] met with local weekend like Wood and Petrofac and I think the future looks extremely bright.

“I think it will be very, very big business as there are lots to do there. Libya needs to rebuild its oil industry and production from a very low level; I think it’s now up to 1.5 million barrels of oil a day.

“It’ll require a lot of reequipping and refinancing and I think there is interest across the field in terms of what Aberdeen and the UK can do. There’s great potential.”
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 days ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Business News

Business News

The Libyan Italian Economic Forum was held in Tripoli last Thursday.

Play
Libya herald
The event was opened by Presidency Council head Faiez Serraj and was attended by the Ministers of Economy and Communications, the Italian Deputy Ambassador, the head of GECOL and the Chairman of the National Oil Corporation, the Chamber of Commerce, Industry and a number of Italian business leaders and representatives of the Libyan-Italian Chamber of Commerce.

The Forum says that it aims to build a strategic partnership of mutual benefits and a programme of economic initiatives, as well as exploring opportunities for investment and joint trade and cooperation by the Business Council of the Libyan-Italian Chamber of Commerce. The forum aims to focus on the oil and gas, renewable energies and investment, infrastructure and services in education, and environment and agricultural sectors.

Opening the event, Serraj paid respect and condolence to the victims of the terrorist bombing of the High National Election Commission’s headquarters (HNEC) the previous day, adding that it was a warning that Libya’s security challenge was still present.

He said that the HNEC terrorist operation was similar in nature to what was being committed in many Arab and European capitals, which needs to be addressed and ended through unified, regional and international efforts and coordination. Serraj stressed that these terrorist operations will not discourage Libya from adhering to the democratic path that it has embarked on, and which these terrorists are enemies of.

Serraj looked forward to a joint Libyan-Italian relationship based on openness and cooperation through a strong strategic partnership, and to the mutual benefit of the two friendly people. He looked forward to the translation of this partnership into joint investments, programmes and initiatives in the economic, infrastructure and energy fields, the financial sector, the services sector and tourism – noting that there are many industries that can be produced in Libya with the help of the Italian partner.

“In our current planning, we are relying on the public-private partnerships, and until the rules of the market economy are completed, which we are slowly building with due study to preserve the social dimension of this transformation,” Serraj said.

Serraj expressed his confidence in Libya overcoming the current crisis, saying that he would not speak before the Economic Forum about the current political situation and the solutions presented – led by the need for elections. However, he said that he would touch upon one of the outcomes of the crisis, which concerns Italy and Libya: the issue of illegal immigration.

Serraj said that this problem could be an entry point for an investment that fills the security vacuum and reduces the problem, such as the reactivation of fishing and the establishment of tourism and economic projects along the Libyan coast. In addition to regional development in the southern regions and taking advantage of the decentralized management approach that his Presidency Council supports. With these steps, the Libyan-Italian Forum could take its first practical steps, he noted.

He added that these investments are part of the aims that both Libya and Italy seek in order to make the Mediterranean a lake of peace and cooperation and a market for trade and cultural communication.

With the movement of the economy, Libya could absorb hundreds of thousands of legitimate workers in accordance with existing laws and in accordance to the requirements of the building and development processes, Serraj explained.

Serraj concluded by emphasizing the importance that the Libyan State attaches to youth, “Understanding the foundation of sustainable development, we request that the forum focus in particular on the Knowledge Economy, qualification and training, and the development of the skills and knowledge needed for that’’. Adding that he hoped the forum would to come out with practical and workable recommendations.
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 days ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Oil & Gas News

Oil & Gas News
Released:  09/05/20182018-05-09
Word count:  89

LONDON, May 8 (Reuters) - Libya aims to raise its oil production capacity to more than 2 million barrels per day (bpd) by 2022, the head of state-owned National Oil Corp told a conference in Aberdeen on Tuesday.

Play
Reuters
“To support this strategy Libya will be targeting all investment markets,” Mustafa Sanalla said in a speech seen by Reuters.

Sanalla was heading a high-level Libyan delegation to Aberdeen, Scotland, at a forum with British companies and in association with the Libyan-British Business Council and Oil and Gas UK.

The OPEC member’s current oil production stands at about 1 million bpd, well below a pre-civil war level of around 1.6 million bpd.

Reporting by Ahmad Ghaddar in London and Aidan Lewis in Tunis Editing by Louise Heavens and David Goodman
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Business News

Business News
Released:  08/05/20182018-05-08
Word count:  110

TRIPOLI, May 6 (Xinhua) -- The Libyan government said on Sunday that Italian companies will start the reconstruction of the Tripoli International Airport in June.

Play
Xinhua
"The ministry has completed all technical and financial procedures to start implementing the airport reconstruction project," Milad Matug, Libya's minister of Transport and Communications, told Xinhua.

"The only thing left to be done is the completion of the security arrangements for the project site," Matug said, adding that the project will significantly help solve the civil aviation problems in Libya.

In July 2017, Libya signed a 79-million-euro (89.6 million U.S. dollars) contract with a consortium of Italian companies to rebuild the international airport in the capital Tripoli.

The airport was almost completely destroyed in 2014 during violent clashes between rival militias, which created the current political division in the North African country.
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Business News

Business News
Released:  07/05/20182018-05-07
Word count:  60

The National Oil Corporation (NOC) held an official launch event last Saturday for the Benghazi International Forum and Exhibition of Oil and Gas 2018 which will be held in Benghazi from 9 to 11 October.

Play
Libya herald
The NOC states that there will be participation of major local and international companies at the event.

The six axes of the conference will be:



1-Exploration, production and development of reserves.

2-Maintenance and projects.

3-Refining and petrochemicals.

4-Health, safety, environment and sustainable development.

5-Digital innovation in the oil and gas industry.

6-Optional topics related to the oil and gas sector.
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Business News

Business News

LONDON, May 3 (Reuters) - Libya’s National Oil Corp (NOC) is withholding Total’s share of crude from the Waha concession as a dispute drags on over the French oil major’s purchase of Marathon’s stake in the concession two months ago, Libyan oil and industry sources said.

Play
Reuters
Total closed a $450 million deal to buy Marathon Oil’s 16.33 percent stake in Waha in March, but the deal drew criticism in Libya and the NOC is currently examining whether to intervene in one way or another.

Total, which has already paid Marathon for the stake, says it informed the Libyan authorities about the deal in advance and they raised no objections at the time.

However, Total CEO Patrick Pouyanne has also said the two sides are still in talks on some fiscal issues surrounding the deal.

According to two Libyan oil sources and an industry source with knowledge of the matter, all speaking on condition of anonymity, Total has so far not received any of its share of crude cargoes from Waha.

Total has also not been compensated for the cargoes, one of the sources said.

Total declined to comment. The NOC was not immediately available for comment.

According to a loading programme for Es Sider, the port used for Waha exports, of the fourteen 600,000 or 1 million barrel cargoes planned for May, NOC has ten of them. ConocoPhillips, which has a 16.33 percent stake in Waha, has two cargoes, and Hess, with an 8.16 percent stake, has another two.

Cargoes for the partners in the concession can vary from month to month, with a special department in the NOC deciding on the matter, one of the Libyan oil sources said.

In January, Marathon was allocated two 600,000 barrel cargoes, worth more than $88 million at current prices.

But from the start of this year, Marathon’s cargoes have been sold on to oil trader Vitol via NOC, the Libyan oil source and trading sources said. Vitol’s deal lasts until at least August, the Libyan source said.

It is not clear whether the change in hands of the Waha concession from Marathon to Total will affect Vitol’s contract.

Vitol declined to comment.

(Additional reporting by Aidan Lewis in Tunis and Julia Payne in London; Editing by Mark Potter)
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Business News

Business News
Released:  03/05/20182018-05-03
Word count:  888

Societe Generale SA is nearing an agreement to pay as much as $1 billion to resolve two U.S. probes -- into the rigging of benchmark interest rates and allegations of bribery in Libya -- according to people familiar with the matter.

Play
Bloomberg
The settlement deals with the U.S. Justice Department, which the people said could be announced as soon as this week, would end years of scrutiny that led to rate-rigging charges against Societe Generale bankers and the departure of deputy CEO Didier Valet in March.

The Paris-based lender has agreed to pay about $800 million in penalties to U.S. and French authorities, one of the people said. The bank may also have to pay a penalty to the Commodity Futures Trading Commission, the people said.

What portion of the penalties will go to the French is still being worked out, two people said. France’s involvement in the negotiations marks a turnabout. French officials had chafed over a multibillion-dollar penalty levied by U.S. authorities several years ago against another French bank and stopped cooperating with the U.S. for a time.

Societe Generale declined to comment but referred to a March 19 statement that said the bank had “entered into a phase of more active discussions” with the Justice Department and the CFTC about the probes that it hoped to resolve in the coming weeks. Legal Risks

While the lender said the final settlement tab wasn’t yet determined, it had set aside 2.3 billion euros ($2.8 billion) for legal risks at the end of December. About 1 billion euros of that total is allocated to the interest-rate and Libya probes, the statement said.

The Justice Department, the CFTC and France’s financial prosecutor declined to comment.

Societe Generale, a global leader in equity derivatives, is scheduled to announce first-quarter earnings Friday before market hours. The stock is up about 5.5 percent this year, outpacing the Euro Stoxx Banks Index.

As part of a resolution, Societe Generale will enter into a deferred prosecution agreement, and a subsidiary will plead guilty in the U.S. to violations of the Foreign Corrupt Practices Act, the people said.

The settlement would be one of the biggest under the Trump administration for crimes committed at financial institutions. Attorney General Jeff Sessions, who has prioritized immigration, violent crime and opioid abuse, inherited many ongoing bank investigations from his predecessor, including a probe of trading at Deutsche Bank AG that helped move some $10 billion out of Russia. Separate Investigation

A separate U.S. investigation into possible sanctions violations related to Societe Generale is ongoing.

The corruption case stems from the Justice Department’s investigation into whether financial firms made improper payments to secure investments from sovereign wealth funds, in violation of the Foreign Corrupt Practices Act.

In May 2017, Societe Generale agreed to pay more than $1 billion to the Libyan Investment Authority to resolve a U.K. civil dispute over the alleged bribery. One of the former bankers on the Libyan transactions reached a deal with the Justice Department to cooperate with its bribery investigation of the bank.

The French authorities’ involvement in negotiations to resolve the bribery matter shows a change of tack toward the country’s own banks. France bristled in 2014 at U.S. plans to levy as much as $10 billion in fines against BNP Paribas SA for sanctions violations, and then-President Francois Hollande raised what he called stability-threatening penalties with President Barack Obama.

In 2016, France stopped cooperating with U.S. information requests in the Societe Generale matter after deciding that doing so could hurt the country’s economy and threaten its national interest, three people familiar with the situation previously told Bloomberg. Broader Probe

The investigation of Societe Generale’s rate submissions grew out of a broader probe into whether global banks had fudged the daily borrowing data they provide to calculate benchmarks including Libor, which stands for the London interbank offered rate and helps determine mortgage and credit-card rates.

Documents collected by the U.S. suggest that Societe Generale executives were aware that its bankers were submitting fake U.S. dollar Libor rates, people familiar with the matter told Bloomberg last year. Such misleading numbers, which made bank borrowing costs look lower than they actually were, have been the focus of years of U.S. and European investigations, charges against more than a dozen bankers and brokers, and more than $2 billion in U.S. criminal penalties. Yet those allegations have rarely touched the upper reaches of global banks.

The departure of Valet, Societe Generale’s deputy CEO, was part of an effort to settle the manipulation case, people with direct knowledge of the matter said at the time. The exit was seen as necessary to help avert restrictions that could be placed on the lender’s U.S. businesses, one of the people said. While the Justice Department doesn’t direct an entity to fire an individual, it can reject proposed settlement offers if it determines that the company didn’t remediate.

Clues about the U.S. government’s Societe Generale probe over rate rigging can be found in an indictment filed in August against two lower-level bankers. One of the bank employees warned about problematic rate submissions in an email to executives, at least one of whom replied, according to the court documents, which didn’t identify the executives.

Artificially low rates that resulted from Societe Generale’s submissions caused more than $170 million in harm to the global financial markets, prosecutors said last year in a statement announcing the charges against the two bankers.

— With assistance by Gaspard Sebag, Greg Farrell, and Matt Robinson
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Dear Sir/Madam.

we provide leasing of instruments such as; Bank Guarantees (BGs), Medium Terms Notes (MTNs), Standby Letter of Credits (SBLCs), Letter of Credits (LC), Bank draft Project Finance and Funding. We also provide Bank account opening services with United States, United Kingdom, China, Hong Kong, Spain, Switzerland, Poland, Belgium, Hungary, Japan, Banks.

we will have your projects funded such as Real Estate Development, Aviation Service, Agriculture Finance, Petroleum Importation, Telecommunication, construction of Dams or Bridges and all kind of projects, we fund 100% of the face value of the financial instrument.

Currently, H.S. Holdings LLC is looking for brokers and financial consultants that will work with us as our agents and representative.

If in need of our services, contact me for detail information.

Awaiting your response. Best regards, RAMESH SUBRAMANIAM IYER Contact: rsi.leaseconsult@gmail.com Skype ID: rsi.leaseconsult

Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.

Ramesh Iyer
3 weeks ago

Business News

Business News
Released:  02/05/20182018-05-02
Word count:  359

The organizers of the International Conference and Exhibition for Benghazi City have released their line up and two-day schedule for their event on rebuilding and reconstructing Benghazi.

Play
Libya herald

The event will now start on 6 May and has been curtailed from the initially planned 6-days to just two days, ending on 7 May. It will be held at the Tibesti hotel. The organizers say that there will be 48 speakers, but only 35 papers are listed in the published schedule.

The topics covered according to the published schedule include topics on: sustainability, economic vision, social impact of war, damage assessment, city planning, transport assessment, legal structure, the role of investment funds, customs policy, airport systems, economic incentivisation, education, training, the Marshal Plan, comprehensive design, the role of strategy, urban heritage, tourism, and the role of a central vision.

The conference is sponsored by the House of Representatives, the (eastern-based) Central Bank of Libya, the Municipality of Benghazi, the Benghazi Chamber of Commerce and the University of Benghazi.

Organizers said that the event will help develop a vision and plan for rebuilding Benghazi. This will be a joint effort through local authorities, businesses, social communities as well as experts and consultants in building and development.

The goals and objectives of the event are to set up a technical, economic and legal vision and plan for rebuilding the city through local and international organizations. Updating and developing existing Libyan laws and regulations to encourage the rebuilding and reconstruction of the city’s projects and infrastructure are also one of the objectives of the event.

Organizers also hope that the event will also seek to encourage partnerships between local authorities in Libya and foreign investors.

The event will follow four main themes: The legislative side and its role in the rebuilding process; the consulting, implementation and services role; the role of the economy and investment in encouraging reconstruction; and the role of social and human resources in development and rehabilitation.

Those who seek more information are to contact info@recben.ly. Those who seek to register to participate are to contact register@recben.ly.

Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Dear Sir/Madam.

we provide leasing of instruments such as; Bank Guarantees (BGs), Medium Terms Notes (MTNs), Standby Letter of Credits (SBLCs), Letter of Credits (LC), Bank draft Project Finance and Funding. We also provide Bank account opening services with United States, United Kingdom, China, Hong Kong, Spain, Switzerland, Poland, Belgium, Hungary, Japan, Banks.

we will have your projects funded such as Real Estate Development, Aviation Service, Agriculture Finance, Petroleum Importation, Telecommunication, construction of Dams or Bridges and all kind of projects, we fund 100% of the face value of the financial instrument.

Currently, H.S. Holdings LLC is looking for brokers and financial consultants that will work with us as our agents and representative.

If in need of our services, contact me for detail information.

Awaiting your response. Best regards, RAMESH SUBRAMANIAM IYER Contact: rsi.leaseconsult@gmail.com Skype ID: rsi.leaseconsult

Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.

Ramesh Iyer
3 weeks ago

Business News

Business News

Libya’s Es Sider oil terminal will load a total of 9.6 million barrels of crude in May, or around 310,000 barrels per day,

Play
Hellenic shipping news
onboard 14 tankers, according to a revised programme seen by Reuters

Exports to the terminal were reduced for a few days earlier this month following pipeline damage due to a fire

Source: Reuters (Reporting by Ahmad Ghaddar)
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago

Business News

Business News
Released:  30/04/20182018-04-30
Word count:  831

The Faiez Serraj-led Presidency Council passed a decree (No. 505) yesterday authorizing the import of essential foodstuffs to the value of US$ 450 million.

Play
Libya herald
The decree has formed a committee to implement its ruling to import 13 items through Cash-Against -Document (CAD) facilities. These are flour, rice, vegetable oil, sterilized milk, concentrated milk, cheese, eggs, juices, frozen chicken, frozen lamb (meat), frozen beef, livestock (sheep and cattle), and pulses.

The decree warned that any company wishing to take part in the import of one of these goods could be banned from any future import transactions if it is discovered to have any ‘‘irregularities’’ in its documentation of dealings.

The goods must arrive by 6 June and would be excluded if they arrive any later. Goods must be sold at the standard prices set by the Presidency Council’s Ministry of Economy and must not be hoarded for profiteering purposes. Companies wishing to take part must deposit 50 percent of the value of the imported goods.

The decree states that well-established companies with a track record paying taxes will be given priority. Each company can only import one type of product.

This decree annuls the previous controversial decree number 363/2018.

It will be recalled that on 28 March the Tripoli-based Audit Bureau had effectively frozen the decision by the Faiez Serraj PC to authorize CAD import facilities to the value of US$ 1.5 bn. The Audit Bureau had requested more time to investigate how these approvals had been reached,and into what it referred to as ‘‘corrupt-looking practices’’.

The Audit Bureau had also said that it was unhappy with the transparency of the approval process and with the short period of time given to companies to present their offers. It felt that in view of the fact that many companies had offers ready for approval, this suggests that the whole process was rigged and directed at specific companies.

The PC had been attempting to process import facilities for essential foodstuffs so that they could arrive in Libya in time for the fasting month of Ramadan, which starts in mid-May this year. Much like the Christmas period, Ramadan is a peak demand and consumption month for foodstuffs.

It will be recalled that the late decision to approve hard currency in the form of Letters of Credit (LCs) or CADs was also criticized last year and the year before.

In April last year, the head of the Tripoli-based Libyan Businessmen Council, Abdalla Fellah, (the only Libyan business council recognized under existing Libyan law), had condemned the Central Bank of Libya for hurriedly opening documentary letters of credit for a number of Libyan companies – in order to import ample supplies of foodstuffs in time for Ramadan.

On 2 April the Audit Bureau and the Attorney General’s Office announced that they were considering initiating joint action to identify the causes of the irregular implementation of documentary credits.

They were keen to understand why were letters of credit (LCs) approved by the Presidency Council Ministry of the Economy being delayed and the ‘‘consequent crisis of commodity scarcity and their prices’’.

This announcement seemed to conflict with the Audit Bureau’s decision to freeze the PC’s decree 363. The Audit Bureau had also called upon the Central Bank of Libya to speed up the opening of delayed LCs for essential goods.

On the other hand, the Central Bank of Libya reacted by issuing a statement dated 17 April in which it deflected any blame for any shortages of goods or price hikes during Ramadan, which could be caused by the Audit Bureau’s freezing of decree 363.

It warned that it would take action together with the PC to ensure that there is no resultant crisis – due to the Audit Bureau’s freeze of decree 363.

The matter of approving and opening the lengthier LCs versus the relatively quicker CAD import facilities is related to obtaining import facilities from the Central Bank of Libya at the official exchange rate of LD 1.4 to the dollar – as opposed to the black-market rate of LD 6+ to the dollar.

The PC view is that it was attempting to process import facilities for essential foodstuffs so that they could arrive in Libya in time for the fasting month of Ramadan.

However, it seems that every year the opening of LCs to import essential provisions in time for Ramadan is delayed. Many members of the public and now it seems the Audit Bureau and Attorney General’s Office suspect that this might be a premeditated annual act by corrupt parties.

It is worth noting that the Audit Bureau and the Central Bank of Libya have been taking it in turn to blame the other, but mainly the PC for Libya’s economic woes. The Audit Bureau, in its 2016 annual report, had identified endemic corruption in Libya and warned that corruption in Libya’s banking sector threatened the whole economy.

With Ramadan approaching fast, yesterday’s Presidency Council US$ 450 million decree (No. 505) authorizing the import of essential foodstuffs and annulling decree number 363 for the value of US$ 1.5 bn, seems to be a compromise after the holding of a series of meetings between all parties to resolve the stalemate.
Comments:

Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase

Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen Email: robertg.finance@gmail.com Skype: robertg.finance@gmail.com BROKERS ARE WELCOME & 100% PROTECTED!!!

Robert Glen
16 hours ago



We "CLOSED JOINT-STOCK COMPANY "AGS-OIL" is one of the leading Oil & Gas trading companies in Russia Federation with good business reputation and well experienced in

the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA

46%/PRILLS, LNG, LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO). We as well secure allocations from our various Refineries for our numerous buyers who

are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both at Russian ports and Rotterdam port.

Contact us on the following email for prompt responses. Contact us with our information below for soft co-operate offer SCO. Email: dodgewallaceoilcompany@mail.ru

Wallace oil
2 days ago

Sir/Ma

I am a financial consultant and have a very good and reputable Provider of some bank instruments which can be monetised and discount for funding of your various project within lenders/investors and projects owners or borrowers that need funding for there various projects etc. We give oppurtunities for projects owner not withstanding the kind of projects, business support and can be engaged into PPP trading. Projects such as

Real Estate Projects

Construction Projects

Government contract Projects,

Transportation Projects

Aviation Projects

Telecommunication Projects

Import and Export Projects etc.

We are located in Europe and we are very ready to take a good look at your projects and faciliate the whole process.

Kindly contact me if you have projects that need funding through this

Martin Steffens Email: marts.capitalfinance@gmail.com Skype: marts.capitalfinance@gmail.com

WE FINANCE ALL PROJECT WITH BG, SBLC
2 weeks ago

Dear Sir/Ma,

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

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

Contact : Mr. SIVAJOTHI GNANATHEEVAM Email: leasingmandate@gmail.com

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

Regard, Sivajothi

SIVAJOTHI GNANATHEEVAM
2 weeks ago
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