Libya Infrastructure needs $200bn over next 10 yrs

By John Lee. The United Nations Development Programme (UNDP) has said that restoring Libya’s infrastructure will cost an estimated $200 billion over the next 10 years. It made the statement in its latest annual Human Development Report (HDR), entitled ‘Human Development for Everyone’, in which it ranks Libya in 102nd place out of 158 countries. […]

NOC warns Oil Market against Illegal Contracts

By John Lee. The National Oil Corporation (NOC) has reasserted that it is the only body authorised by the United Nations to export crude oil and oil products from Libya. The NOC confirmed that term contracts covering the entire production for 2017 for all Libyan crude grades have already been entered with 16 international oil […]

Libya’s Oil Production Down

By John Lee. Reuters cites a source at the National Oil Corporation (NOC) as saying that oil production was down by 252,000 barrels per day on Tuesday. The reductions were caused by shutdowns at Wafa (pictured) and Sharara, due to the activities of “armed factions“. (Source: Reuters)

Appeals Court Blocks Libya-Italy MoU

On March 22, Tripoli Appeals Court’s administrative division ruled to block the Memorandum of Understanding (MoU) signed between Libya and Italy in early February 2017. The MoU was signed to tackle the growing difficulties with illegal immigration and human trafficking in Libya. The court ruling stated that the agreement would be blocked immediately until a […]

NOC challenges Presidency Council power

By John Lee. The National Oil Corporation (NOC) has said the Presidency Council does not have the legal power to change or limit the authorities, duties and responsibilities of NOC. NOC chairman Mustafa Sanalla (pictured) said on Monday: “I have asked the Presidency Council to withdraw its recent resolution … It has exceeded its authority. […]

LAIP wins Court Appeal against CMS

By John Lee. The Libya Africa Investment Portfolio (LAP/LAIP) hs announced that it had won its legal battle against Dubai-based Catalyst Managerial Services (CMS). A London court had previously awarded $15.4 million in damages to CMS for alleged unpaid invoices and wrongful termination of its contract with LAIP prior to the revolution. But following an appeal […]

GardaWorld Weekly Security Report

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Libya Business News readers. Prepared by GardaWorld’s Risk Analysis Team in the country, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of […]

Video: ‘Feminine Discourse’ in Libyan Political Reconciliation

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. Libyan activist Zahra’ Langhi on ‘feminine discourse’ in political reconciliation Zahra’ Langhi, co-founder of the Libyan Women’s Platform for Peace, tells The Stream on Al Jazeera: “Congresswomen were threatened and bullied physically and verbally […]