The General Manager of the Turkish Petroleum Corporation, Ahmet Türkoglu, stated in an interview with Oil Price that the company is ready to invest billions of dollars in developing offshore oil fields in Libya. Türkoglu emphasized: “Years ago, we invested in some of the best opportunities in Libya but, unfortunately, had to leave. Now, we […]
Our source obtained a communication from the Public Prosecutor to the Head of the Audit Bureau regarding the continuation of judicial measures to halt negotiations on the development of the NC7 block in the Al-Hamada field. The letter calls for an extension of the investigation into the financial and technical aspects of the project, as […]
Engineer Masoud Shriha, in a statement to our source, referred to a report by the Energy Newspaper from the OPEC organization, which stated that Libya’s crude oil production for December was 1.29 million barrels per day. This contradicts the recent statement by the National Oil Corporation, which claimed production was around 1.4 million barrels per […]
Economic expert Misbah Al-Akari raised questions in a post on his official page regarding the recent increase in the exchange rate, asking whether it has legitimate justifications. He explained that exchange rate hikes typically occur when there is a decrease in the supply of foreign currencies, complex restrictions on accessing foreign currency, political turmoil, or […]
Our sources have revealed that the Chairman of the National Oil Corporation, Masoud Suleiman, has issued a directive to review all contracts and services of the Mediterranean Company in Dubai, alongside suspending dealings with the company. Additionally, he has issued a decision to review operations tainted by administrative and financial violations during the previous period, […]
The advisor to the Libyan Investment Authority, Louay Al-Qriw, stated exclusively to our source: “The UN Security Council’s decision allows the LIA to reinvest its financial assets abroad while keeping them frozen, in response to the Authority’s request to invest unutilized cash balances to preserve their value and avoid losses.” He added: “The decision grants […]
Libyan affairs expert at the Royal United Services Institute, Jalel Al-Harshaoui, told our source on Saturday that two or three months ago, there was no decision to remove Farhat from leading the National Oil Corporation. However, recent months have witnessed new developments. Generally, it can be said that Farhat’s policies, whether financial or monetary, within […]
Oil expert Masoud Shriha stated in an exclusive comment to our source that there is a significant contradiction in the figures declared by the National Oil Corporation on various occasions. He noted that this inconsistency undermines the credibility and transparency of the Corporation, adding, as the saying goes, “They tried to fix it but made […]
Our source has exclusively obtained a decision by the Deputy Minister of Economy, Suhail Abu Shiha, to revoke all acceptance decisions issued by the Trademark Office. The decision also prohibits the Office’s Director from taking any actions regarding the trademarks mentioned in the decision. The decision revealed evidence that the Trademark Office accepted trademark applications […]
The former Head of the Administrative Control Authority, Abdul Salam Al-Hassi, emphasized the vital role of regulatory bodies in general, and the Administrative Control Authority in particular, in addressing administrative and financial violations that harm the public interest and public funds. This role aligns with the authority’s founding law, which grants it the power to […]
Legal advisor, Hisham Al-Harati, stated exclusively to our source: “The National Oil Corporation must be returned to its natural course based on the principles of good governance and institutional independence to ensure the sustainable management of oil resources efficiently.” He added: “This is essential to confront the looming economic risks and ensure the continuity of […]
In a recent article, Anas Ashnibish examined the state of the Libyan economy, describing it as a rentier economy that heavily relies on a single, finite resource—oil. This resource serves as the primary source of funding for the public budget and all economic sectors. Libya’s economy is among the least diversified in the region, particularly […]
The Arabic Independent newspaper reported on Thursday that Libya’s oil industry in 2025 shows promising opportunities despite ongoing threats in a country torn by political disputes and divided between two governments in the east and west. Libya’s crude oil production in 2024 exceeded its target by more than 17,000 barrels, reflecting the sector’s recovery. According […]
Libyan businessman Husni Bey told our source: “Through following the page The Economic Salon, which is a non-governmental organization and civil society entity focused on economic matters, and observing the discussions, reactions, and critiques of the circulars issued by the Central Bank of Libya (CBL), it’s clear we are hearing alarm bells.” He added:“The response […]
Presidential candidate and economic expert Mohamed Al-Ghwil stated to our source regarding the delay in transferring revenues from the National Oil Corporation to the Central Bank of Libya, saying: “One of the reasons is the exchange of crude oil for products (diesel and gasoline). I believe the NOC should commit to providing detailed monthly reports […]
