Oil prices fall on further rise in U.S. drilling, signs of slowing demand

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Oil & Gas News

Oil & Gas News
Released:  08/05/20122012-05-08
Word count:  162

FRANKFURT, May 7 (Reuters) - Libya's oil sector sent 469,000 tonnes of crude to Germany in March, down from 779,000 tonnes in February but putting it fifth-highest in Germany's oil imports, economic and foreign trade statistics office BAFA data showed on Monday.

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Reuters
The figure was not dissimilar to 496,000 tonnes received in March 2011, shortly after fighting broke out between rebels and forces loyal to former leader Muammar Gaddafi, damaging oil installations and disrupting exports throughout 2011. In January-March taken together, Libya ranked fourth after Russia, Britain and Norway, after it had recaptured typical monthly export levels to Germany in January and February. Germany's total January-March oil import bill was 20 percent up from a year earlier at 15 billion euros ($19.67 billion), BAFA said. Germany's average border oil prices in the three months rose by 17.2 percent from Jan-March 2011 to 666.98 euros a tonne. Oil imports by volume rose 2.7 percent on a year earlier to 22.4 million tonnes in the same three months. Some 38.8 percent of oil imports in the year to date came from Russia, 25.7 percent from the British and Norwegian North Sea and 19.8 percent from OPEC members, among others. Another noticeable factor was Syria, which is engulfed in violence and has sent no oil for a fourth c onsecutive month.
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Construction News

Construction News
Released:  08/05/20122012-05-08
Word count:  211

The Ministry of Industry has declared the successful manufacturing of the first Libyan bus after the revolution.

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Mina Monir
The bus has been manufactured by the Truck and Bus Company in the Tajura Industrial Zone, East of Tripoli. The company manager Muhammed Andalusy was reported by The Libya Herald as saying that the bus was completely Libyan designed and manufactured and meets international specifications with a capacity of 49 passengers and a 450 bhp engine. Mr. Andalusy pointed out that the expected use for this bus will be the transport of passengers between the centres of population in Libya because of the comfort for travellers that the bus offers. The manager of the Truck and Bus Company Abdul-Hakim Shohayma said that the bus is one of the modern models that could be used to transport tourist groups to different sites in Libya. The bus, he adds, is equipped with audio-visual facilities and high class air conditioning. The Truck and Bus Company has had a long-standing agreement with the Italian company IVECO to assemble buses. The production of the bus is part of the progress in the fields of industry and transportation that serves the Libyan economy. The Minister of Economy Ahmed al-Koshly stated that the Libyan government is ready to provide the required facilities to help encourage foreign investors to operate in Libya and particularly in the field of industry and construction.
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Political News

Political News
Released:  07/05/20122012-05-07

Registration for next month's elections is taking place in Libya. It's the first stets towards achieving democracy after the fall of Muammar Gaddafi, but already various groups and ensuring they're voices will be heard. Al Jazeera's Alex Gatopolo

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Mina Monir
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Oil & Gas News

Oil & Gas News
Released:  07/05/20122012-05-07
Word count:  288

Libya's National Oil Corporation (NOC) has denied its eastern subsidiary has reduced oil production due to protests that have closed off its headquarters for nearly two weeks but the unit maintained on Sunday that it had cut output.

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Reuters
A spokesman for Benghazi-based Arabian Gulf Oil Company (Agoco) said on Saturday it had cut output by 30,000 barrels per day since Thursday, in a setback for Libya's oil industry, which has recovered well since the end of last year's conflict that ousted Muammar Gaddafi. In a statement on its website, the NOC said Agoco's crude oil production "remains the same". Agoco spokesman Abdeljalil Mayuf reiterated on Sunday that production was at 340,000 bpd from 370,000 bpd earlier in the week. Protesters have prevented employees from entering Agoco's office since April 23, calling for more transparency over how Libya's new rulers are spending its money and demanding more jobs for young people. Meetings have been held between civil society groups and the demonstrators, who have pitched a tent outside Agoco's office, but these have failed to end the protests. Agoco had threatened to cut production if no solution was found by May 3. Mayuf said a meeting had been held on Saturday with the Benghazi high security committee, representatives of the protesters and Mustafa Abdel Jalil, chairman of the ruling National Transitional Council, over the matter. "We are still in the same situation, we are waiting for a solution," Mayuf said. Oil accounts for the bulk of Libya's economy and exports. The North African country is close to returning to pre-war production of 1.6 million bpd, and its recovery contributed to a rise in output by the Organization of the Petroleum Exporting Countries (OPEC) in April, despite a drop in Iranian supply. Agoco, which produced 425,000 bpd of crude oil before the war, acted as the de facto state oil company of the Libyan uprising as international sanctions imposed during the conflict prevented dealings with the NOC. (Reporting by Marie-Louise Gumuchian; Editing by Anthony Barker)
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Construction News

Construction News
Released:  07/05/20122012-05-07
Word count:  225

The Libyan Minister of Communications and Transport Yosef al-Wuheshy expressed the state’s willingness to support tourism investment in Libya to support the national income.

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Mina Monir
In a press conference held in the newly reopened Ghadames Airport, Mr. al-Wuheshy stated that his ministry puts the support of tourism on the top of its list of priorities. Ghadames airport was reopened, after one year of closure due to the uprisings, as a part of a larger plan undertaken by the ministry to facilitate regional and touristic transportations, as well as other future economic activities. The Libyan Minister of Economy, Ahmed al-Koshly, expressed the ministry’s readiness to provide the required facilities and ideas to help foreign investors to operate in Libya and provide the necessary facilitation through its Privatization and Investment Board (PIB) to create suitable job opportunities for local residents in the border areas. Al-Koshly declared that an agreement has been signed between Libya and Algeria to develop the border area between the two neighbouring countries since it is an active commercial region. The development programme is expected to help in limiting the illegal activities that take place in the border region, particularly the smuggling of goods. Ghadames was marginalized in the time of Gaddafi. Today, it is back to the top of the state’s priorities and its airport will start by receiving two weekly flights from Tripoli. It is expected that Ghadames will attract tourists from all over the world who will come for its archaeological and historical sites.
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Business News

Business News
Released:  04/05/20122012-05-04
Word count:  1027

Malta’s long-standing and deep connections with Libya are an opportunity for American companies, Lorraine Harriton, the US State Department Special Representative for Business tells The Times Business in an interview during a visit to Malta.

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Mina Monir
“We know that Malta has long-standing and deep connections with Libya which I think is an opportunity for American companies to leverage. It will be some time before Libya really has the type of infrastructure and environment that makes it easy for companies to conduct business in Libya so we think there are opportunities for American businesses to use Malta’s business connections and its strategic location to access Libya. I am here today to have discussions with the Maltese government on how we might be able to collaborate and support American businesses,” she says.

She adds that the US is very grateful to the Maltese government for all it did during the Libyan conflict “to support our agenda and be a partner in that”.

Ms Harriton, who also spoke at a business breakfast on Intellectual Property Rights protection during her visit to Malta, says American companies are very interested in the opportunities in Libya. In fact, the State Department’s Assistant Secretary for Economic and Business Affairs Jose Fernandez was recently part of a trade mission to Libya organised by the Libya US Business Association to assess the opportunities there.

“The visit was part of an overall programme that the US government has done with Libya and the American business community. Our Ambassador to Libya, Gene Cretz, has been having conference calls on a regular basis to keep the American business community up to speed on what’s going on in Libya.”

She says the US government is renewing its commercial relationship with the government and people of Libya “and our recent trade mission included companies like Dow Chemicals, GE and several other high level representatives of the private sector.”

Ms Harriton says that besides the energy sector there are other US economic interests in Libya.

“There’s a tremendous amount of infrastructure work that needs to be done and all the major infrastructure companies are interested, the airport, roads and water. There are opportunities in IT, telecommunications, and then over time, the tourism and hotel industry and the retail industry.”

Special representative Harriton is responsible for promoting US commercial interests worldwide. What message is she giving about the state of the American economy?

“The US economy is recovering, it’s growing and what we are really focused on, on my agenda, are two areas. One is supporting President Barack Obama’s national export initiative, which is to double exports over five years from 2009 to 2014. This is on track and in the first two years we grew 15 per cent, so it’s been very successful, but we have a lot of work to do to continue to meet that agenda. Dealing with Libya is part of our overall national export initiative.

“The other area we are focused on is promoting foreign direct investment into the US. In fact I am on my way to India where we have an opportunity to expand both our exports as well as Indian investment into the US.”

She says that the US State Department has a big focus on helping American businesses and Secretary of State Hilary Clinton has delivered a number of major speeches on economic statecraft – a recognition that in the 21st century supporting American businesses and exporting the US’s economic agenda are an important part of American foreign policy agenda. “Things like working closely with Malta to work together in Libya, for example, and even the discussion I had today on Intellectual Property Rights protection and how we can collaborate on that is part of economic statecraft. We believe that strong bilateral and multilateral economic relationships support our overall foreign policy agenda.”

She says that over the last decade military and security issues were really the focus, especially after 9/11 but as they look at the outlook for the next years the US’s economic relationships are really going to be critical for America’s overall foreign policy and political agenda.

“We see this around the world, we see a lot of shifts, to where economic relationships are going to be and we see a shift towards Asia. While we maintain our strong relationship with Europe we must also look towards the emerging powers in Asia,” she says.

How does her office overlap with the US Commerce Department and the Office of the Special Trade representative?

“That’s a very good question. The Commerce Department is responsible for the 70 largest markets around the world and they have staff in each country. In countries like Malta we (the State Department) partner with the Commerce Department so that they can provide their services and we have economic officers – so the State Department is responsible for the commercial relationship. We also have a very collaborative inter-agency process where we work together on common agendas, so my role – I work very closely with the Commerce Department – is to focus on this economic statecraft agenda.”

As for the potential for increased business ties between Malta and the US she says Malta is really moving to develop its information innovation society so there’s a lot of potential for growth with some of the technology companies. “I know there’s been a lot of cooperation already with HP, IBM and Microsoft,” Ms Harriton, who spent more than 25 years in the IT sector as a senior executive at IBM and Network Computing Devices, points out.

Asked whether the Arab Spring offers an economic opportunity for the US Ms Harriton says the American government has been very supportive of the new regimes that have been put in place in Egypt, Tunisia and Libya.

“We are doing a lot to try to provide the type of aid they need, and in Libya in particular to really build up the commercial relationship. The Arab Spring is really about jobs and economic opportunity. In Tunisia the revolution started by somebody saying: ‘How do I earn a living for my family’. Our programmes in these countries are really about providing economic opportunities.”

Regarding whether the US presidential election will be dominated by the state of the US economy, Ms Harriton is completely non-committal, saying: “Nobody knows what’s going to happen six months from now!”

[ Source: Times of Malta ]
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Business News

Business News
Released:  04/05/20122012-05-04
Word count:  76

Libya Build records a strong French presence with 42 companies in different economic sectors.

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Mina Monir
Ubifrance, the French Agency for International Business Development has announced that 42 French companies will exhibit at the Libya Build — the 8th International Building and Construction Exhibition – May 20-24th. It makes France among one of the larger national participants at the event. The French exhibitors will be in pavillions Nº 69A and 69B. To find out more details about the participating companies, guides are are available at: http://www.libyabuild.com/pdf/libyabuild_12_catalog_internet.pdf
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Financial News

Financial News

Post-Gadaffi Libya could generate significant economic and social benefits for Tunisia and its other neighbors, according to a new report from the African Development Bank (AfDB).

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Mina Monir
The report, in the AfDB’s latest North Africa Quarterly Analytical, is entitled: “New Libya, New Neighborhood: What Opportunities for Tunisia?” The Libyan crisis had adverse effects on Tunisia, according to an earlier report by the Bank. However, the continued presence of Libyan nationals in Tunisia, who sought refuge across the border during the troubles, and high demand for Tunisian products have sent positive signals and contributed to the Tunisian economy.

Also, Libya offers job opportunities to Tunisian workers. Some Tunisians returned home during the period of civil strife.

However, a number of obstacles to trade, investment and labour mobility could continue, at least for the short term.

Those obstacles include residence and work permits for Tunisians in Libya, business creation and transfer guarantee problems, the widespread presence of contraband goods and the development of a black market.

The aim of the AfDB paper is to identify opportunities for greater integration and to propose a number of policy options and measures that might enable Tunisia to play a central role in Libya and to benefit from its reconstruction.

Various measures are needed. The first is more assistance to the banking sector, including the harmonization of payment procedures to support trade and investment between the two neighboring countries. Also, an immigration support strategy is necessary to identify the Libyan labour market needs and to manage the migratory flows.

The transport links between the two countries need improving to boost trade flows and labour mobility.

Also, regional integration could receive a boost if a Tunisian-Libyan economic community began to evolve from the new relationship between the two post-revolution countries. [Source: African Development Bank report]
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Dear Sir/Madam, We Supply Skilled And Unskilled Workers From Asia (Bangladesh, Nepal, India, Srilanka, Phliph, Indonesia, Pakistan Etc) And We Have Also Training Center & Institute. If You Allow Me We Will Follow Any Understanding Instruction. Arif HRD Director H/P:008801731881551 Email: hicobd@yahoo.com , artradel@yahoo.com , info@greengulf.info, green_gulf@yahoo.com www.greengulf.info Our service is available now in Malaysia, Indonesia, Singapore, Brunei, Philippine, Vietnam, Cambodia, Myanmar, India, Bangladesh, Nepal, Sri Lanka, State of Qatar, United Arab Emirates, Sultanate of Oman, King of Saudi Arabia, State of Kuwait, State of Bahrain, Italy, Iraq, Libya & Bulgari.

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Business News

Business News
Released:  03/05/20122012-05-03
Word count:  213

A Danish industrial and business delegation has been briefed by the Libyan Minister of Planning Isa Tuwerji.

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Mina Monir
Mr Tuwerji gave a full briefing on the Libyan economy to explain the potential business opportunities that could be exploited by the Danish delegation. The delegation comprised more than 25 representatives of giant industrial and business companies in Denmark who showed their interest in investing in Libya. the Danish Chargé d’Affaires Anders Tang Friborg spoke of Denmark’s pride in the support they gave to Libya through the NATO coalition. Highlighting some similarities between Libya and Denmark in terms of population size and the desire to establish an effective welfare model for their citizens, he confirmed Denmark’s commitment to establishing strong commercial ties with Libya and answering Libya’s requests for skills and technology transfer. With a thriving private sector made up largely of small and medium enterprises with a wide range of expertise, Danish companies had a lot to offer, he said. According to Libya Herald, Libya’s Minister of Planning Isa Tuwejri recognised Denmark’s contribution through NATO and praised the Danish for their support of the NTC. Indicating the many challenges that Libya faces the Minister stressed the importance of economic diversification and encouraging the growth of Libya’s private sector in order to tackle the high rates of unemployment and move away from a reliance on oil revenues.
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Financial News

Financial News
Released:  03/05/20122012-05-03
Word count:  208

Libya is banking on up to $1 trillion in foreign direct investment to rebuild itself.

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Mina Monir
Gulf News has reported Ahmed Salem Al Koshly, Libya’s Minister of Economy, as saying that the country “was expecting a huge cash injection.”Furthermore, he said that Libya wants “long-term investment”, and that despite the current situation in the country, many foreign companies had already moved back to Libya. The UAE is vitally important to the Libyan economy. According to the Libya Herald, pre-war investments from the UAE alone stood at $13 billion and, according to a report by the Abu Dhabi Chamber of Commerce and Industry (ADCCI), 12 Emirati companies are operating in Libya in aviation, energy, financial and banking, oil, natural gas and property. Al-Khosli said that Libya was interested in drawing upon the UAE’s experience in developing both the country’s economic infrastructure and legislation, and was particularly interested in the UAE’s achievements in creating sustainable economic and social development. The Libya capital Tripoli is hosting several conferences forinfrastructure, oil and gas in order to attract international offers to operate again in the Libya and cooperate in rebuilding its cities. The uprisings caused many companies and investors to withdraw. However, the new policies and the promising future of Libya’s political profile has brought back many companies to restore their investments in Libyan projects.
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Business News

Business News

Northwestern University in Qatar hosted members of Libya's National Transitional Council and other leaders of Libyan society in a "good offices" conference, to help fundamentally re-envision a media system for Libya. Learn more at mediavisionlibya.northwestern.edu

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Mina Monir
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Construction News

Construction News
Released:  02/05/20122012-05-02
Word count:  232

British Airways has launched its first flight to Tripoli since the uprisings successfully.

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Mina Monir
“We are extremely pleased to be returning to this key North African market and we anticipate strong demand as companies return to Libya,” said Sarah Cain, British Airways; North Africa Commercial Manager in a press statement, according to the Libya Herald. “We will have daily flights as of 24 October if demand picks up,” said Andrew Hammans, BA’s Africa Commercial Development Manager who was in Tripoli for the launch of the route. Flights from Heathrow to the country's capital, Tripoli, will run three times a week from 1 May 2012, according to the Telegraph. “We are delighted to be returning to Libya,” said Keith Williams to the Telegraph, chief executive of the airline. “Our flights to Tripoli have provided a vital economic link for many years, and it is good news for everyone that we can now restart operations.” Several operators, including Exodus, Abercrombie and Kent and Responsible Travel, have previously offered trips to Libya, usually including a sightseeing tour of Tripoli and a visit to the ancient Roman ruins of Leptis Magna. Several other European airlines, including Alitalia, have already resumed flights to the city. Air France will restart its services on March 27. British Airways’ decision to resume flights to Tripoli comes in harmony with the developments in economic and business ties between Libya and Britain after the revolution and the political progress to provide a good atmosphere for cultural and economic cooperation.
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Oil & Gas News

Oil & Gas News
Released:  02/05/20122012-05-02
Word count:  219

Sonatrach Petroleum has reported that it will resume its upstream operations in Libya next week.

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Mina Monir
After a year of absence, the Algerian state energy firm declared that it will restore its gas and oil activities in Libya, according to an official in the Algerian energy sector. According to Reuters, the company has exploration rights in Ghadames basin, near the border between Libya and Algeria. Th geological setting of the area is the south western part of the Ghadames sedimentary basin, one of the major Paleozoic tectonic units of the country extending to Algeria in the west and Tunisia towards the north.

Sonatrach's subsidiary "will resume its activities in Libya starting next week after agreement was given by the parent company and by the relevant ministries", said the official, who spoke on condition of anonymity. Sonatrach pulled its staff out during last year’s uprisings against former Libyan leader Col. Muammar al-Gaddafi. During last year's insurrection, rebel leaders accused Algeria of being sympathetic to Gaddafi. The row deepened when, after Tripoli fell to the rebels, Algeria gave refuge to fleeing members of Gaddafi's family. Mustafa Abdel Jalil, head of Libya's National Transitional Council, made a first visit to Algeria last month, signaling that the two countries were drawing a line under their dispute. The return of Sonatrach is a fresh sign that Algeria is trying to patch up its differences with the new Libyan leadership.
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News Releases

News Releases Business News
Released:  02/05/20122012-05-02

It seems that the wheel of production in Libya is accelerating in a very promising way. Since the Libyan stock market was reopened in March of this year and a significant amount of the frozen assets were released, international interest in the sectors of energy and industry has increased tremendously. Let’s take a look at some of the latest developments…

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In an official statement, the Libyan National Oil Corporation, known as the NOC declared that Libya’s oil income has exceeded 12 billion dollars in the first quarter of 2012 exporting over 103 million barrels.

The Libyan corporation marketed its crude in several European countries for 110 to 124 dollars per barrel. The statement showed that Italy bought more than 34.23% of Libya’s crude exports while China was second, purchasing 15.93% and the United States third, purchasing 2.21%.

--- The Libyan International Telecom Company has chosen the French cable maker Nexas to provide around 440 Kilometres of submarine fibre optic cable for the Libya Silphium link across the Mediterranean Sea. The cable will provide an initial capacity of 70 gigabites a second and a maximum capacity of 1.2 terabits a second, according to Global Telecom Business. ---- The National Transition Council had already expressed interest in crafting an “e-Libya” programme – a national policy to accelerate commerce, e-learning, online government services, and the expansion of wireless and Internet connectivity, according to WND economic magazine. The United States Trade and Development Agency is willing to provide an Information and Communications Technology sector in its business commission to Libya to help actualise the e-Libya initiative. ----- The official at the Ministry of Economics Rajab Khalil, has confirmed that the Libyan government and the Benghazi local authorities are willing to reactivate the free-trade zone in the second capital of Libya. The project will be established on 1200 hectares and will provide about 40 thousand job opportunities, as well as supporting the Benghazi trade areas. ----- The Italian air company Alitalia has declared it is launching two weekly flights between Rome and Tripoli from June.

The company will provide weekly flights with a promotional round trip fare of LD246. Alitalia is the first EU airline to have restarted its operation of commercial flights to and from Libya. One month ago Alitalia reopened its commercial offices in Tripoli and resumed the operation of its Customer Centre in Libya. The decision comes after a plan of renewing its services and its planes. ------ LibyaBusiness.tv is emerging as one of the most important online resources for businesses involved in the redevelopment of the new Libya providing daily business news updates as well as educational and advisory videos and a host of invaluable resources. In June 2012 they will be launching The Libyan Business Guide, an interactive online, video-based manual for companies wishing to do business in Libya. The guide will cover Libyan Politics, Culture and the Economy. It will deliver practical advice on how to do business in Libya including basic language and etiquette, visa applications and business law. It will also include an exclusive directory of key contact in Libya’s Public and Private sector. The Libyan Business Guide will be updated monthly and is available on a quarterly subscription of just £500 + VAT. If you would like to subscribe or receive further information contact us using the details below. -------- Now lets take a look at some important events that are taking play in May 2012 A one-day conference Winning Business in Libya: - A Practical Guide for UK Companies will take place on 14th May 14, at the Park Lane Hotel, London.

It will examine these issues in detail and include a video presentation from Dr Mahmoud Fetais, Minister of Industry, and a keynote address delivered by Edward Oakden, The Managing Director of the Sectors Group, UK Trade & Investment.

Further details are available at the website below www.cityandfinancial.com/libya2

The 4th International Electrical and Mechanical Exhibition 2012 will take place From 20 to 24th of May at the Tripoli International Fair. The show known as EMEX is a set to give an ideal platform for multinational and medium sized companies who are focusing on developing and reconstructing Electrical and Mechanical industry. It is organized by ATEX-International Exhibition Organizers. At the same time and at the same venue is Libya Build Expo the largest International exhibition held in Libya, specialized in Building and Construction sector. It Exhibits the Latest Technology in Building Construction Including all of its Supporting Industries. Participants will also receive country market briefings from Libya Embassy officials as well as opportunities to meet with leading private sector experts. For more information on either exhibition contact the organisers using the details below Tel +(218)-(21)-3342193 or info@atex.com.ly Finally the New Libya Forum will be held in Triplli between the 21st and 25th May and will focus on Infrastructure, Housing, Tourism and Ports. For more details access the website below. Well that’s all the stories in this edition of Libya Business TV News. Thank you for watching

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Dear Sir/Madam, We Supply Skilled And Unskilled Workers From Asia (Bangladesh, Nepal, India, Srilanka, Phliph, Indonesia, Pakistan Etc) And We Have Also Training Center & Institute. If You Allow Me We Will Follow Any Understanding Instruction. Arif HRD Director H/P:008801731881551 Email: hicobd@yahoo.com , artradel@yahoo.com , info@greengulf.info, green_gulf@yahoo.com www.greengulf.info Our service is available now in Malaysia, Indonesia, Singapore, Brunei, Philippine, Vietnam, Cambodia, Myanmar, India, Bangladesh, Nepal, Sri Lanka, State of Qatar, United Arab Emirates, Sultanate of Oman, King of Saudi Arabia, State of Kuwait, State of Bahrain, Italy, Iraq, Libya & Bulgari.

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Contract News

Contract News
Released:  01/05/20122012-05-01
Word count:  246

More than 60 Danish businessmen arrived in Tripoli to discuss further business opportunities in Libya

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Mina Monir
The visit of a Danish delegation, which will last three days, includes meetings between the representatives of the Danish Foreign ministry, the Confederation of Danish Industry and several Danish companies with Libyan officials and businessmen. The Danish delegation is expected to propose several offers and projects in the sectors of energy and infrastructure. According to the Tripoli Herald, while in Tripoli, the Danes will be given a briefing by Libyan businessman Husni Bey and make a series of site visits, including to a local hospital, greenhouses producing flowers and an animal fodder production plant, to look into potential collaborations. The Danish delegation is expected to meet Libyan businessmen who are flying to the capital from Benghazi. Denmark was one of the NATO countries that supported the revolution and its business profile is one of the most distinguished profiles in Libya. As part of his visit to Libya today, Foreign Minister Villy Søvndal opened a new Danish representation office in Tripoli. “It signals that Denmark believes in Libya’s democratic project,” says the foreign minister. The purpose of the office is to support Libyans during the challenging transition process. The office will support various projects, monitor the political developments in Libya, including more sensitive areas such as respect for human rights, and strengthen relations between Libya and Denmark for business and trading. A presentation will be given to Libyan businessmen on Tuesday at 6pm at the Mehary Radisson Blu Hotel, detailing potential areas of Danish-Libyan cooperation.
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Business News

Business News
Released:  01/05/20122012-05-01
Word count:  261

The new ambassador of the United Arab Emirates (UAE) to Libya arrived in the capital Tripoli on Sunday with business and economic tasks.

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Mina Monir
According to NY Daily News, Saeed Obaid Al Kaabi said the relations between the two countries were growing steadily. In a statement released after his arrival in the Libyan capital, Al Kaabi said he was pleased to be the UAE envoy there. He said the UAE under President Sheikh Khalifa bin Zayed Al Nahyan is keen on backing Libya in all fields, including economic, technical, financial and judicial areas. The new ambassador is expected to execute several business tasks to maintain the economic relations between Libya and UAE. One of the largest tasks is discussing the challenges facing the restoration of Libya’s largest refinery Ras Lanuf, which is owned equally by the National Oil Company NOC and UAE investors. The refinery, which is capable of processing 220,000 b/d of high quality sweet Sarir crude was damaged during revolution, the principle damage being to the main cooling tower. There are two major challenges to restoring the Ras Lanuf refinery business between NOC and Abu Dhabi investors. According to Nuri Berouin, the NOC chairman, Gaddafi cause severe technical problems by mixing different crudes into its tanks, which had bad effects on the tanks. In addition, the government’s decision to probe the oil contracts made with the former regime requires fresh negotiations regarding the details of the projects and their policies. However, Top UAE Al-Ghurair executive Abdelaziz Al-Ghurair announced that it intended to invest $1.2 billion over the next four years upgrading the refinery. The exchange of delegations between Libya and UAE indicates that economic cooperation will carry on but under new conditions.
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Political News

Political News
Released:  01/05/20122012-05-01

Conduct presidential and parliamentary elections, guarantee the security of over 6 million Libyans, generate jobs, collect all the weapons in the streets and move the country toward stability, are the main challenges for Libya, the African country with the largest oil reserves. teleSUR

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Mina Monir
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Dear Sir/Madam, We Supply Skilled And Unskilled Workers From Asia (Bangladesh, Nepal, India, Srilanka, Phliph, Indonesia, Pakistan Etc) And We Have Also Training Center & Institute. If You Allow Me We Will Follow Any Understanding Instruction. Arif HRD Director H/P:008801731881551 Email: hicobd@yahoo.com , artradel@yahoo.com , info@greengulf.info, green_gulf@yahoo.com www.greengulf.info Our service is available now in Malaysia, Indonesia, Singapore, Brunei, Philippine, Vietnam, Cambodia, Myanmar, India, Bangladesh, Nepal, Sri Lanka, State of Qatar, United Arab Emirates, Sultanate of Oman, King of Saudi Arabia, State of Kuwait, State of Bahrain, Italy, Iraq, Libya & Bulgari.

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Oil & Gas News

Oil & Gas News
Released:  30/04/20122012-04-30
Word count:  207

BASF has reported growing profits from oil and gas as Libyan production increases.

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Mina Monir
The world's largest chemicals maker by sales said first-quarter earnings before interest and tax (EBIT) adjusted for one-off items declined less than expected, decreasing 7.3 per cent to 2.53 billion euros ($3.35bn) compared with a consensus forecast of 2.32bn euros. BASF stated that earnings are rising this year as growth is expected during the second half of the year following year-on-year declines in the first half. "We absolutely have to go for further price increases," finance chief Hans-Ulrich Engel said during a conference call. BASF's comments come after quarterly sales at Dow Chemical, the largest US chemicals maker, came in below forecasts. Dutch group AkzoNobel, the world's largest paints maker, said economic uncertainty, even in some emerging markets, as well as high raw materials prices posed challenges this year. According to Reuters, BASF subsidiary Wintershall said it expects to raise turnover and profit in 2012 provided this year's crude oil prices are the same as in 2011 and given that it reopened oil operations in Libya that caused losses last year. In Mid-October, Germany's largest oil and gas producer revived oil production in the Libyan desert again, which stopped after the February 2011 uprisings for security reasons. Production will be ramped up gradually. Wintershall is a big revenue contributor forparent company BASF.
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Contract News

Contract News
Released:  30/04/20122012-04-30
Word count:  246

The Libyan Minister of Electricity Awad Ibrahim declared that the ministry awarded El-Sewedy Electric the projects of rebuilding Libyan electricity.

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Mina Monir
Along with Misr Mechanical Project (Kahromica), the Egyptian electricity giant El-Sewedy will rebuild the Libyan electricity network at a total cost of $1 billion. Mr. Ibrahim stated that El-Sewedy is already executing many projects with the Libyan government in renewable energy. El Sewedy is expected to complete the construction and operation of a wind power plant by the end of 2012. Choosing El-Sewedy comes as part of the Egyptian-Libyan industrial and economic cooperation which extends to energy sectors and infrastructure projects. The cooperation between the two neighbouring countries includes other contracts with Egyptian companies, such as el-Nesr, for restoring generators and other contracts for $1 billion. The cooperation between Egypt and Libya will locate the latter on the larger electrical networks that link Jordan, Egypt and in the future Libya and Tunisia as well. In the Egyptian Forum for Renewable Energy 2012, the Libyan Minister of Electricity, discussed the possibilities of cooperation in renewable energy as well. At the conference, Ibrahim stated that “The ministry I head is now called the ‘Ministry of Electricity and Renewable Energy’ which shows a clear dedication to new sources of energy as well as a clear cut from the past regime’s attitude towards resources,” he said. Libya was now focused on alternative sources of energy, he affirmed. The Libyan government stated that it is already executing several projects to provide 400 Million kilo watts from renewable sources such as wind generator networks, besides building a new water conversion station based on renewable energy sources.
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Libya Oil & Gas Summit Prelude in Rome

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Mina Monir
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Find out what contracts are on offer in Libya
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