The French intelligence site Africa Intelligence reported today, Monday, that a French court has ruled in favor of Libya in the case involving the Siba Plast company. The site confirmed that the Paris Court of Appeal ordered the cancellation of an enforcement order issued by another French court in 2017 in favor of the Tunisian […]
In a significant decision, Naji Issa has been unanimously appointed as the new governor of the Central Bank of Libya. This video delves into Issa’s background, highlighting his career and the expertise that led to his selection for one of Libya’s most critical financial roles. Watch to learn about the man tasked with steering the […]
Mohamed Al-Dharat, the head of the Libyan Foreign Bank, warned of the devastating impact of the financial crisis on living costs in Libya. Al-Dharat stated on the sidelines of a roundtable on energy and infrastructure between Libya and Italy, organized by Energy Capital & Power in Rome, that consumer goods prices have risen significantly, with […]
The Italian Nova agency reported today, Tuesday, that Eni plans to significantly increase gas production in Libya starting from the end of 2026. Martina Opizzi, Eni’s North Africa and Middle East Area Manager, stated during a roundtable on energy and infrastructure between Libya and Italy, organized yesterday in Rome by Energy Capital & Power, that […]
Oil Review reported on Monday that Libya is set to open a licensing round for oil and gas in early 2025, targeting concessions in the Murzuq, Ghadames, and Sirte basins. The site noted that this initiative comes as the region is already attracting investor interest, with over 30 companies expressing intentions to produce 2 million […]
The US Ambassador to Libya, Richard Norland, stated in an interview with Egyptian television on Sunday that the recent action taken by the Libyan Presidential Council is a unilateral move and a risky step that has raised questions regarding the Central Bank of Libya following the dismissal of its governor, Seddiq Al-Kabeer. Norland noted that […]
Bloomberg reported today that Libya’s oil exports increased last week, even though authorities in the east of the country have not lifted restrictions on flows. According to Bloomberg, the average shipments of Libyan crude oil and condensates reached 719,000 barrels per day between September 13 and September 19, based on tanker tracking data, up from […]
The Financial Transparency Report for 2024 highlights that ongoing internal political divisions continue to hinder the government’s ability to implement regular budgeting processes, negatively impacting financial transparency and government operations. During the reporting period, the Government of National Unity did not publish a proposed executive budget. According to the report, the Government allocated funds without […]
Financial expert Khaled Al-Zantouti stated in an interview with Sada Economic Newspaper regarding the possibility of the Libyan economy reaching an oil-for-food scenario if Al-Kabeer does not return: “Based on experience, I do not want to mention specific names, but generally, I do not believe it is easy to put Libya under the oil-for-food principle […]
Radio France reported today, Wednesday, that American, British, and European banks remain hesitant to deal with the Central Bank of Libya. These banks are not “stupid”; they are well aware that the interim governor was appointed unilaterally through a coup and violence. Jalel Al-Harchaoui, a researcher at the Royal United Services Institute in London specializing […]
Advisor to the Presidential Council, Ziad Dghaim, exclusively responded to Sada Economic Newspaper about Al-Kabeer’s comments concerning the economic situation reaching an oil-for-food scenario if he does not return. He said: “Oil-for-food is an Arab media term for a system that requires approval from the Security Council, similar to Iraq after the Gulf War, or […]
Jalel Al-Harchaoui, an expert on Libyan affairs at the Royal United Services Institute, said in a post on the “X” platform that the ongoing economic crisis in Libya may remain unresolved due to the stubborn confrontation between the two main factions. Al-Harchaoui pointed out that each faction expects the other to back down first, and […]
Professor of Economics at the Libyan Academy, Dr. Omar Zermouh, commented to Sada Economic News regarding the Central Bank of Libya’s August 2024 report on public debt. He was asked, “What is the value of public debt, and is it truly zero within less than a month? Has the Central Bank forgiven the accumulated debts […]
According to Financial Times, Seddiq Al-Kabeer, the governor of the Central Bank of Libya who controls billions of dollars in oil revenue, stated that he and other bank staff had been forced to flee the country to “protect their lives” from potential attacks by armed militias. The Central Bank of Libya and its governor, Seddiq […]
The American news agency Bloomberg reported today, Tuesday, that Libyan oil production continues to decline as authorities in eastern Libya impose the closure of oil fields, exacerbating the crisis that the United Nations has warned could lead to economic collapse. Bloomberg noted that production at the El Feel oil field in southwestern Libya has stopped, […]
