The American newspaper IntPolicyDigest reported on Monday that Colonel Muammar Gaddafi once issued a stark warning in a moment of global criticism, saying: “The dominant powers today are in the hands of those with economic strength, which instills fear in others. They can starve you. They can shut down your raw material exports like gas […]
The Mafio News website reported on Sunday that a new airline is preparing to launch in Libya to provide air transport services for the oil sector. The site confirmed that the new company will be a joint venture between Petro Air, Harmony Group, and Delta United Group. The airline, named Libyan Oil Wings, is structured […]
The International Monetary Fund revealed in a report that the extremely low prices of oil and electricity encourage smuggling across borders, and it is likely that the sharp increase in the quantities of gasoline and diesel consumed contributes to the increase in smuggling to neighboring countries due to the large price difference. According to the […]
The British website EurasiaBusiness reported on Saturday that Libya remains in a state of alert despite the return of major global oil companies and the significant recovery in oil production. According to the site, by mid-2025, Libya’s crude oil production reached approximately 1.23 million barrels per day — its highest level in over a decade […]
The Turkish newspaper PaTurkey reported on Thursday that Turkish authorities have launched a comprehensive investigation into money laundering involving suspicious point-of-sale transactions worth over 47.5 billion Turkish lira, and have issued arrest warrants for 85 individuals, including employees from DenizBank, ŞekerBank, and the fintech company Ozan Elektronik. According to a statement from the Istanbul Chief […]
The Arab Weekly reported on Thursday that Libya’s decision to halt the oil-for-fuel swap system, which it relied on to secure fuel imports in exchange for oil exports, has worsened the financial challenges facing the country and increased pressure on its dwindling foreign currency reserves. The newspaper added that since the suspension of the swap […]
The Financial Times reported on Tuesday that BP and Shell are entering into several agreements aimed at exploring new opportunities in Libya, as international oil companies ramp up their return to the country. The paper emphasized that while Libya remains one of Africa’s largest oil producers, it has suffered from underinvestment due to the withdrawal […]
Our source has exclusively obtained a letter from the Minister of Economy addressed to the Director General of the Customs Authority, issued in implementation of instructions from the Central Bank of Libya to the Ministry of Economy. The letter bans all import, export, and re-export activities unless conducted through banking operations approved by the Central […]
The French intelligence website Africa Intelligence reported on Monday that the National Body for the Development of Eastern Libya is seeking several foreign investors. The French website confirmed that Mahmoud Al-Farjani, Executive Director of the National Democratic Rally affiliated with the Libyan National Army led by Khalifa Haftar, is meeting with top Qatari investors and […]
Banking sources have revealed that the Central Bank of Libya has initiated comprehensive reform steps within the administrations of commercial banks, starting with structural changes affecting a number of leadership positions — most notably, the replacement of the General Manager of Jumhouria Bank, who had held the position for over ten consecutive years. According to […]
The Central Bank of Libya has revealed revenues and expenditures from January 1 to June 30, reporting total revenues of 61.3 billion LYD, while expenditures amounted to 57 billion LYD. According to the Central Bank’s statement, oil sales revenues reached 51.5 billion LYD, and oil royalty revenues stood at 9.3 billion LYD. Tax revenues amounted […]
Chairman of the Board of Afriqiyah Airways, Ahmed Al-Turki, told our source that despite the airline’s heavy financial obligations, there has been significant progress in operations and maintenance. Al-Turki confirmed important updates in operational matters that signal a partial breakthrough amid the financial challenges facing the company. He noted that Istanbul Station is set to […]
A report published by Africa Confidential magazine has revealed the network of American banks used by Muammar Gaddafi to secretly transfer around $50 billion out of Libya between 1994 and 2011. According to the report, between 1972 and 2023, Libya generated $1.25 trillion in oil revenues. Between 1994 and 2011 — the last 15 years […]
Our source has exclusively obtained a letter from the Governor of the Central Bank of Libya, Naji Issa, addressed to the Rapporteur of the Planning and General Budget Committee in the House of Representatives. In it, the Governor asserted that the Central Bank is unable to provide comments on the 2025 budget draft, stressing the […]
In an exclusive statement to our source, Eng. Mohamed Asti, Technical Director of Arkanu Oil Services Company, revealed that the company has officially begun development operations at the Mezda and Sarir oil fields with the goal of increasing production. This follows the signing of an agreement with the National Oil Corporation, allowing Arkanu to carry […]
