OPEC Output Rises to Three-Year High on Saudi Arabia, IEA Says

OPEC’s crude oil production rose for a fifth month to the highest in more than three years as Saudi Arabia and Libya boosted supply, according to the International Energy Agency. The 12 members of the Organization of Petroleum Exporting Countries produced 31.42 million barrels a day of crude last month, the most since October 2008, the Paris-based agency […]

Climate Conversations – Building a new Libya in a new climate

Free Libya. This was one of the main rallying cries last year for the Libyan opposition, which with NATO assistance toppled the brutal 40-year reign of Muammar Gaddafi. But four and a half months after Gaddafi’s downfall, Libya, under the leadership of the interim National Transitional Council (NTC), is facing the problem of reconciling the […]

Weekly Security Review

AKE Oil Infrastructure Report AKE has produced the first independent security and risk assessment of Libya’s major oil producing and refining facilities. Designed to provide accurate and actionable information to companies looking to enter or re-enter the oil-rich North African state, the project aimed to assess the threat level in the areas most associated with […]

Telecom operator returning to Libya

The Ugandan government announced on Monday that Libyan assets, including Uganda Telecom (UTL), seized by the government last year as part of United Nations (UN) sanctions on Libya, will be returned. The government said, in a press statement published by the WallStreet Journal, once UN sanctions against the North African country were lifted in December […]

Finnish know-how sought in Libya rebuilding

Finnish experts will soon start working in Libya to help the country get back on its feet after the civil war. Libya needs support in areas including border control, healthcare and forensic medicine. Post-war Libya faces the challenge of rebuilding and providing services to its citizens. Finland is pitching in at Libya’s request for expert […]

Fine balance sought at oil summit in Gulf

Oil producers and consumers meet tomorrow in Kuwait to discuss growing threats to supply, rising prices and an uncertain outlook for the global economy. Energy ministers and executives of oil companies from 88 nations, including the UAE, will gather as Brent, the European benchmark crude, trades at US$125.98 a barrel, about a dollar short of last […]

Libya: NTC Approves 2012 Budget of 68 Billion LD

Libya’s National Transitional Council (NTC) has approved the long awaited budget for 2012 on Sunday. The total amount of the budget is LD68,525,604,750.00. The NTC spokesman Mohammed al-Harizi told the Libyan news agency said the NTC’s approval of the budget included recommendations directed to the government relating to the spending procedures and financial oversight. He […]

Four Veteran Ex-OPEC Oil Ministers Set Up Energy Alliance

Four former oil ministers of OPEC member states Iraq, Libya, Algeria and Nigeria have set up an international energy alliance to tackle various energy issues, the four said in an announcement late Sunday. Issam Chalabi, Shokri Ghanem, Chakib Khelil and Rilwanu Lukman, former oil ministers of Iraq, Libya, Algeria and Nigeria respectively, met in Vienna […]