Author Archive | Matthew Gayle

Afriqiyah Temporarily Suspends Alexandria Flights

The Libya Herald is reporting that Afriqiyah Airways has announced the temporary suspension of flights to and from Alexandria this week to help airport security regulate the entry of Egyptians into Libya. Afriqiyah explained that the move is a precautionary measure in the interests of the company, which comes after documents revealed that a number […]

HRD To Build Training Center In Benghazi

According to the Libyan Herald, a new vocational and educational training center is to be built in Benghazi by the Human Resources Development Service of Korea (HRD Korea), in a project funded by the Libyan government. The $13.6 million deal will see HRD Korea build an institute that is an exact replica of a centre […]

Eastern Libyans Declare New Cyrenaica Government

On Thursday, Oct. 24 Federalists announced a government for Cyrenaica, consisting of a prime minister, deputy prime minister and 24 other ministers. According to the Libya Herald, the movement is viewed as largely the creation of Ibrahim Jadhran, the former Petroleum Facilities Guard commander who is leading the eastern oil terminals blockade. Jadhran was elected […]

Libya’s Oil Production Stable At 600,000 BPD

As the government works to end protests at fields and ports that have cut shipments for months, Libya’s oil production has stabilized at around 600,000 barrels per day (bpd) over the last month, according to the National Oil Corp. (NOC). Striking workers, militias and political protests caused a decline in the OPEC member’s oil output to […]

Sanalla Advocates Completion Of New Oil Law

Libya and Algeria are among Africa’s top four oil producers, and alongside Egypt, are major suppliers of gas to Europe. According to Reuters, NOC board member Mustafa Sanalla has said that the Libyan government should finish drafting a new oil law as an incentive to foreign oil companies by the end of this year or early next year. […]

Egyptian Truck Drivers Released, Return Home

After being held by gunmen in Ajdabiya, 74 Egyptian truck driver were released on Monday and have now reached Egypt via the Salloum border crossing. According to the Egyptian Independent, Military spokesperson Ahmed Mohamed Ali said that military intelligence was able to resolve the issue in coordination with Libyan authorities. The drivers were on their way […]

Will Libya’s Security Situation Drive Out Foreign Oil Companies?

By Rim al-Baraki from Al-Hayat, translated for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Some experts have expressed fears that Western oil companies operating in Libya will leave the country due to the growing concern and disappointment at the prevailing security conditions in […]

GECOL Warns Of More Power Cuts

According to the Libya Herald, electricity supplier GECOL is warning that power cuts could continue throughout the winter due to security concerns, which caused foreign firms doing essential maintenance and expansion work at its power stations to pull their workers out of the country. In a statement issued yesterday, GECOL said recent security issues, including […]