Our source has exclusively obtained a correspondence from the National Oil Corporation addressed to Waha Oil Company. The letter emphasizes the importance of providing full cooperation and all necessary information to the committees assigned to audit the company’s accounts and contracts. It also urges the relevant departments at Waha Oil Company to comply and supply […]
Our source has exclusively obtained a decision from the House of Representatives amending Article (25) of Law No. 7 of 2010 on income taxes. According to the decision, the article now states:“The state’s right to claim what is due under the provisions of this law does not expire over time. This provision applies to any […]
Our source has exclusively obtained a decision from the Board of Directors of the National Oil Corporation regarding an amendment to the unified bidding and contracting regulations for its affiliated oil companies, as per Decision No. (188) of 2023. The amendment aims to maximize economic and technical efficiency in executing sector projects at competitive prices […]
The oil-focused website Oil Price reported on Wednesday that oil prices remained slightly lower after rising on Tuesday. This came following threats from protesters to block crude oil exports at two terminals in the Oil Crescent. However, the National Oil Corporation stated that exports were proceeding at normal rates. In a statement on Tuesday, the […]
The Director of Administrative Affairs at the National Union Bank, Mohamed Al-Kadiki, exclusively informed our source about the launch of the ATM cash withdrawal service. He announced that the service has been activated for all commercial banks through the bank’s ATMs, reinforcing the bank’s commitment to providing advanced banking services that facilitate seamless financial transactions […]
On Wednesday, the General Assembly of Assaray Bank convened to restructure the Board of Directors, where a vote was held to appoint Husni Bey as Chairman of the General Assembly, in agreement with the temporary committee assigned by the Central Bank of Libya. During the meeting, the bank’s 2024 profits were revealed to be 27 […]
The Second Deputy Chairman of the High Council of State, Omar Al-Abidi, revealed in a statement to our source that the visit of the Board of Directors of the Central Bank of Libya, led by Governor Naji Issa, carries significant political symbolism and reflects Libya’s commitment to unity and the fact that Libya is one […]
The Federal Bureau of Investigation has arrested a former United Nations agency executive in Montreal on charges of attempting to broker illegal arms deals worth more than $1 billion between Libya and China. According to the Canadian newspaper Global News, the official is accused of leading a scheme to help China sell $1.54 billion worth […]
Our source has exclusively obtained a copy of Prime Minister of the Government of National Unity’s Circular No. 5 for 2024, issued on December 31, 2024. The circular stipulates several measures aimed at controlling public expenditures. It mandates the halt of vehicle purchases and the suspension of new appointments, except with the direct approval of […]
Our source from the oil sector revealed that the protest movement in the Oil Crescent region decided to temporarily suspend the closure of oil ports. This decision followed communication with the Chairman of the National Oil Corporation, Engineer Masoud Suleiman, during a phone call on January 28, 2025. As a result of this call, the […]
Economic expert Mohamed Al-Safi exclusively told our source regarding the closure of oil fields: “It’s truly a regretful development that further complicates the situation. The Central Bank is already struggling to counter excessive demand for dollars.” He added: “The oil closures, which will result in a drop in revenues, will reduce the Central Bank’s capacity […]
The American news agency Bloomberg reported today, Tuesday, that oil loading operations at Libya’s major ports have stopped due to protests, disrupting about one-third of oil exports. This highlights the risks to global supplies stemming from ongoing tensions in Libya. According to Bloomberg, two individuals familiar with the situation stated that the shutdown began on […]
Our source at the Central Bank of Libya revealed that it has begun accepting applications for licensing financial leasing activities as of Sunday, January 26, through its official website. This step comes after issuing regulations governing contracts in the sector, as part of the bank’s efforts to stimulate economic growth.
Anas Ashnibish, in a statement to our source, discussed the recent calls to reduce global oil prices, including direct appeals to OPEC by the leader of a nation with the highest oil production globally. Ashnibishwarned that, if these measures are implemented as urgently as proposed, the repercussions on Libya’s economy and financial stability in 2025 […]
Legal advisor Hisham Al-Harati spoke exclusively to our source, expressing frustration over the prolonged delays in the Ain Zara Road expansion project. He stated: “The continued neglect and procrastination in executing contracts for critical projects, especially the Ain Zara Road expansion, which has been stalled for over three years, represent a blatant disregard for citizens’ […]
