Our source has obtained a notice referred by the Deputy Director of the Audit Bureau, Atiyat-Allah Abdulkareem, to the Bureau’s Legal Affairs Office. The notice was received by a process server from an unidentified citizen, who claims that Khaled Shakshak is no longer the Head of the Audit Bureau. The citizen bases this claim on […]
The Canadian newspaper Toronto Star reported on Sunday that recent clashes in the city of Zawiya have caused fires at the oil refinery as armed groups vied for control. These disturbances highlight the ongoing instability in Libya since the fall of Gaddafi in 2011, leaving residents trapped and roads blocked, with a state of force […]
Economic expert Mohamed Sanussi, in an exclusive statement to our source, commented on the letter presented by several experts addressing Libya’s public financial challenges. He stated, “First, we must thank everyone who tries to contribute with their knowledge and expertise to solving Libya’s problems. However, generally speaking, Libya’s problems cannot be solved by presenting proposals […]
Former member of the Central Bank of Libya’s Exchange Rate Committee, Misbah Al-Akari, stated: “The liquidity problem will be fully resolved by 2025 provided that all stakeholders (citizens, the private sector, and government entities) commit to using alternative payment tools, which have already become widely available and are expected to grow even further in 2025. […]
The international professional services network Deloitte, headquartered in London, released a report titled “The Imperatives of a National Vision for Libya” on Saturday. The report highlighted that Libya’s economy, heavily reliant on its vast oil reserves, experiences significant volatility driven mainly by global oil price fluctuations and recurring political instability. According to Deloitte, the discovery […]
Turkish Airlines announced it will resume flights between Benghazi and Istanbul starting next year. According to Anadolu Agency, the airline had suspended its flights to Benghazi a decade ago due to internal unrest but will resume operations on January 14, 2025. The Turkish agency confirmed that Turkish Airlines will operate three flights per week on […]
The economic expert, Misbah Al-Akari, wrote an article in which he stated: “An amount of cash exceeding 70 billion Libyan dinars is circulating in the local market outside the banking system. This massive amount has become subject to trading in a very peculiar phenomenon referred to as “burning.” The rise in government spending, which surpassed […]
The Sentry organization stated: On September 10, 2023, two dams near the city of Derna in eastern Libya collapsed due to a severe rainstorm, resulting in a flood that claimed the lives of at least 4,352 people and displaced approximately 45,000 others, while 8,000 individuals remain missing and are presumed dead. Since the disaster, journalists […]
The oil-focused website “Oil Price” reported today, Wednesday, on OPEC’s monthly oil market report, revealing that crude oil production from all member states increased by 104,000 barrels per day in November compared to October. The report highlighted that OPEC’s total crude oil production averaged 26.66 million barrels per day last month, driven by increased production […]
Our source exclusively obtained a correspondence from the Deputy Head of the Audit Bureau, Atiyyat-Allah Hussein Abdel Karim, addressed to the Minister of Planning in charge of the National Unit, directing the preparation of detailed schedules outlining the financial allocation distributions for projects and development programs for the years 2024-2025. The schedules should include priorities, […]
Financial expert Khaled Al-Zantouti penned an article criticizing the recent statement by the International Monetary Fund (IMF) regarding Libya, describing it as “economic hypocrisy” and filled with “hollow recommendations.” Al-Zantouti highlighted the IMF’s acknowledgment of Libya’s “positive turning point after a decade of board stagnation,” questioning the organization’s silence and inaction during those ten years. […]
Jalel Al-Harchaoui, a Libya affairs expert at the Royal United Services Institute (RUSI), told our source on Tuesday that while foreign companies may be interested in investing in Libya’s oil sector, they need clear answers to several unresolved questions before committing. Al-Harchaoui emphasized to our source that these firms currently harbor concerns about the National […]
Italian strategic expert Daniele Ruvinetti told our source on Tuesday that Italy’s concerns regarding economic plans with Libya stem from political instability, security challenges, and migration issues. According to Ruvinetti, the fragmented political landscape and volatile security environment pose significant risks to investments. Ruvinetti highlighted that Libya’s role as a transit point for migrants adds […]
Our source has exclusively obtained a letter from the Deputy of the Audit Bureau, Attia Allah Hussein Abdul Kareem, addressed to the Chairman of the National Oil Corporation (NOC). In the correspondence, the Deputy requested the suspension of the direct-award contract for the Martyrs’ Square development and modification project, valued at $6.85 million. The suspension […]
The Italian “Friedman Institute” recently released an analytical report on Libyan oil and gas supplies, emphasizing Italy’s strategic role in Mediterranean energy dynamics. The institute highlighted Italy’s efforts to position itself as a key energy hub in the Mediterranean, supported by its continued reliance on Libyan oil and gas. According to a recent analytical memo […]
