Libya elections commission says vote date not set

Libya’s electoral commission said on Tuesday 4,000 candidates had registered for upcoming national assembly elections, but the commission head said he could not confirm the vote would be held on June 19 as set by the ruling National Transitional Council. “To announce the election date is linked to a number of issues including delivering election […]

Libya Investigating Unipec, PetroChina Oil Deals Under Gadhafi

Libya’s prosecutor office is probing possible irregularities in crude sales to oil giants China International United Petroleum & Chemical Co., or Unipec, and PetroChina Co. Ltd.  as part of a broader probe into Gadhafi-era oil deals, a file from Libya’s Interpol bureau shows. A file issued last month, attached to a request of arrest against […]

Libyan oil industry makes startling recovery

After Libya’s civil war, experts pessimistically predicted a recovery in the country’s oil industry could stretch on for as long as three years. Work camps had been looted and left bereft of phone and internet links, export terminals were damaged and at one point in the fighting, production fell to 45,000 barrels per day (bpd), less than […]

Libya tries to calm wary investors over review

Libya is seeking to reassure investors concerned about a major review of nearly 10,000 business contracts that were signed by the government of the late Muammar Qaddafi.   A group of 20 people appointed by the National Transitional Council (NTC), the temporary government, is scrutinising the contracts to ensure fairness and hunt for evidence of […]

Libya on track to reach 3 million barrels per day

Libya’s oil industry has revived its oil production faster than many in the industry predicted after the eight-month civil war that damaged export terminals and left oil facilities looted. Officials of the transitional government expect to reach pre-war output of 1.6 million barrels per day (bpd) by the end of next month. At the centre […]

Libya Oil Output Nears 1.6 Million Barrels a Day, NOC Says

Libya’s crude oil output has risen to “almost” 1.6 million barrels a day, Nuri Berruien, chairman of the state-run National Oil Corp., said in a telephone interview from Tripoli. The North African country, which is rebuilding its oil industry after the war that ousted former leader Muammar Qaddafi last year, produced 1.465 million barrels a […]