Argus Agency reported today, Friday, that Libya’s crude oil exports decreased by only 2% last year, despite several months of politically driven blockades at ports and oil fields. According to Argus tracking data, the country exported 973,000 barrels per day across 12 crude grades in 2024, slightly less than in 2023, when 989,000 barrels per […]
The British newspaper Independent reported today that several African countries maintain significant foreign currency reserves to mitigate economic shocks, support imports, and maintain their financial credibility on the international stage. The reserves of several countries at the end of 2024 reflect a highly positive outlook despite the tough global environment. The rise in the prices […]
The French website Africa Intelligence reported that a new legal case is expected to be filed against Farhat Omar Bengdara, in addition to two previous cases. This case is based on a ruling by the Tripoli Court of Appeals, which determined in October that the head of the National Oil Corporation holds UAE citizenship. According […]
Libyan citizen Amin Bin Saud, the husband of a cancer patient receiving treatment in Egypt, has made a heartfelt appeal to House of Representatives Speaker Aguila Saleh, Prime Minister Abdulhamid Dbeibeh, and all Libyan officials to address the dire situation faced by Libyan patients undergoing treatment in Egypt. According to reports, these patients, who placed […]
Our source has exclusively obtained correspondence from the National Oil Corporation (NOC) addressed to the Chairman of the Libyan Audit Bureau. In this correspondence, the NOC responded to the Audit Bureau’s request to stop using the fuel barter system beginning in 2025, explaining the difficulties in ceasing this system. The NOC stated that references to […]
Professor of Economics at the University of Benghazi, Atiya Al-Fitouri, explained in a post on his personal page the problem of the increase in the dollar exchange rate in the foreign exchange black market, despite the opening of documentary credits for small traders with $500,000, and breaking down the amount into segments of $100,000 each […]
Libyan affairs expert at the Royal United Services Institute, Jalal Al-Harchaoui, told our source on Sunday that regarding the issue of funding the 2007 French presidential election campaign, Sarkozy has not yet been convicted, as the trial only began two days ago. Al-Harchaoui confirmed to our source that for the Libyan funds to be returned […]
The British newspaper The Independent published a report on Saturday shedding light on a meeting held in Tripoli in 2005. Officially, the meeting between Colonel Muammar Gaddafi and Nicolas Sarkozy—then France’s Minister of the Interior and preparing for his 2007 presidential bid—was to discuss irregular migration. The newspaper reported that an agreement was allegedly reached, […]
Engineer Masoud Shriha, the complainant against the Chairman of the National Oil Corporation (NOC), Farhat Bengdara, stated in an exclusive statement to our source hat the NOC paid $42 million of Libyan public funds to settle the adulterated gasoline case. He added that the company “Lukoil” has a well-documented history of corruption, as confirmed by […]
Lawyer Thuraya Al-Twibi revealed to our source that she has filed a complaint against the Governor of the Central Bank of Libya and the Speaker of the House of Representatives for their refusal to implement two rulings. These rulings mandate the suspension of the decision and the cancellation of the imposition of the foreign currency […]
Our source has obtained a correspondence from the Director of the Banking Supervision and Control Department at the Central Bank of Libya to the general managers of banks. The correspondence concerns the addition and amendment of certain regulations governing foreign exchange transactions as outlined in the referenced circular. These regulations address the purchase of foreign […]
Written by financial expert Khaled Al-Zantouti: “These days, opinions, articles, discussions, and decisions about fuel subsidies, their drawbacks, and ways to address them are abundant. In this context, I say: Ladies and gentlemen, I still insist that our primary problem is smuggling. While I am fully aware that smuggling is a result of subsidies, we […]
Reuters agency reported today, Wednesday, that Spanish company Repsol has resumed oil exploration in Libya after a ten-year stoppage. According to Reuters, the National Oil Corporation said that Repsol has begun drilling a well in the Murzuq Basin, about 12 kilometers from Sharara field, Libya’s largest oil field, according to the agency.
Our source has exclusively obtained a circular from the Central Bank of Libya addressed to commercial banks, instructing them to begin accepting foreign exchange coverage requests through its system starting January 5 for various purposes. The directive emphasized the need for banks to prepare their systems and get ready to accept requests from clients, including […]
