Libya 5th in Germany’s March oil imports

Libya’s oil sector sent 469,000 tonnes of crude to Germany in March, down from 779,000 tonnes in February but putting it fifth-highest in Germany’s oil imports, economic and foreign trade statistics office BAFA data showed on Monday. The figure was not dissimilar to 496,000 tonnes received in March 2011, shortly after fighting broke out between rebels […]

Looking for investment opportunities in Libya

The fall of Moammar Gadhafi has paved the way for the U.S. business community to invest in Libya as the troubled Middle Eastern nation tries to rebuild itself after a civil war tore the country apart last year. After a trip last month to the new Libya, the U.S.-Libya Business Association says the country would […]

Libyan oil corp. denies its Agoco unit cut output

Libya’s National Oil Corporation (NOC) has denied its eastern subsidiary has reduced oil production due to protests that have closed off its headquarters for nearly two weeks but the unit maintained on Sunday that it had cut output. A spokesman for Benghazi-based Arabian Gulf Oil Company (Agoco) said on Saturday it had cut output by […]

Libya’s vast oil potential is still in the grip of flux

Restoration of production to pre-war levels just four months after Col Muammar Gaddafi was killed in the desert has been hailed by the Western backers of the new government. However recent developments have provoked warnings that mismanagement could force the industry into long-term decline. Arabian Gulf Oil Co, the country’s largest producer with a near […]

Family mourn ex Libya oil chief in low-key funeral

Scores gathered to mourn Libya’s Gaddafi-era prime minister and oil chief Shokri Ghanem at a low-key funeral in Tripoli on Friday, days after he was found dead in Austria’s Danube river. It was a low-profile end for a man who was once one of the most powerful figures in Libya and then captured the world’s […]

Libya’s NOC Says Arabian Gulf Oil Co. Hasn’t Cut Crude Output

Libya’s Arabian Gulf Oil Co. has not reduced crude production, its parent National Oil Corp. said on its website, refuting an earlier statement from the company known also as Agoco. Abdul Jalil Mayuf, an Agoco spokesman, said yesterday by telephone from the eastern city of Benghazi that the company had reduced output by 30,000 barrels […]

Air Malta announces flights to Benghazi

Air Malta will restart a twice weekly service every Tuesday and Thursday as from Tuesday, 29 May, to Libya’s second largest city, Benghazi. The flights will supplement the daily service to Tripoli, the country’s capital. The decision to operate to Benghazi was taken following a positive report received from Air Malta’s technical team that audited […]

Libya’s Agoco cuts oil output further due to protests

Libya’s Arabian Gulf Oil Company (Agoco) has cut oil production by another 10,000 barrels per day (bpd) due to protests that have closed off its headquarters for nearly two weeks, a spokesman said on Saturday. Protesters have prevented employees from entering Agoco’s office since April 23, calling for more transparency over how Libya’s new rulers […]