Author Archive | editor2

From RPGs to SDGs and Beyond

Sultan Hajiyev, UNDP Country Director in Libya. The 17 Sustainable Development Goals (SDGs) aim at resolving the social, economic and environment problems troubling the world. The value and importance of the SDGs for the UNDP is self-evident for those familiar with who we are and what we do. Everything we do should contribute to the […]

UKEF Financed 2 Libyan Projects last year

By John Lee. UK Export Finance (UKEF) has published its annual report and accounts for 2017 to 2018, in which it lists two export projects supported in Libya: Leisurewear International Limited received export working capital of £454,722 to supply children’s clothing to the Al Jedoor Company; Fortress Diagnostics Ltd received export working capital of £303,942 to […]

Video: Who Controls Libya’s Oil Riches?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. The battle to control the largest oil reserves in Africa has taken a new twist – which is turning off the lifeblood of the Libyan economy. Renewed fighting has shut down oil terminals and […]

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LIA forms Committee to respond to Audit Bureau

Dr. Ali Mahmoud, Chairman and Executive Director of Tripoli’s Libyan Investment Authority (LIA), held a meeting on recently with department directors and senior management consultants to consider their response to the report of the Audit Bureau for 2017, regarding the observations about the LIA and its subsidiaries. A committee has been formed to coordinate with […]

Force Majeure at Ras Lanuf and Es Sider Ports

By John Lee. The National Oil Corporation (NOC) has announced force majeure on crude oil loadings from Ras Lanuf and Es Sider port terminals from Thursday 14 June 2018. The NOC confirms that an armed militia led by Ibrahim Jadhran attacked both terminals, resulting in their closure. NOC evacuated all NOC employees as a precautionary measure. […]

Medco signs Libya Oil Exploration Contract

The Libyan Investment Authority (LIA) has signed a contract with the Indonesian company Medco Energi extending the previous agreement relating to oil exploration in district 47. The signing was attended by the LIA Chairman and Chief Executive Dr. Ali Mahmoud, and Medco Energi’s General Manager in Libya Mr. Faisal Shita. Mr Shita said: “The initial […]

China, Libya Discuss Return of Chinese Firms

By John Lee. Libyan authorities have reportedly set up a committee to look into suspended projects started by Chinese firms. According to a report from Xinhua, further steps to resume cooperation with Chinese companies will be considered after the end of Eid holidays. On Tuesday, the Chinese Charge d’Affaires to Libya Wang Qimin met with Prime Minister Fayez Sarraj. (Source: Sputnik) […]