Conoco earnings fall on Libyan instability

ConocoPhillips, the third-biggest US oil company by market capitalisation, reported a 16 per cent drop in third-quarter earnings, citing a range of factors, including suspended operations in Libya and offshore China. The company, which next year will split its exploration and production and its refining operations into two separate companies, on Wednesday reported earnings of […]

Switzerland eases sanctions on Libya

Switzerland will on Thursday unblock some frozen Libyan assets and allow the transfer of money to some state institutions, the Swiss government said on Wednesday. The move will allow the transfer of money and other assets to the Central Bank of Libya, the Libyan Investment Authority, the Libyan Foreign Bank and the Libyan Africa Investment […]

Libya dispels fears over adopting Islamic rule

Libya’s interim leader yesterday sought to dispel fears that the North African nation would adopt hardline Islamic rule, a day after he declared Sharia the primary source for future legislation. “I would like to assure the international community that we as Libyans are Muslims but moderate Muslims,” Mustafa Abdul Jalil said at a news conference […]

BP plans return to Libya oil exploration

BP Plc said on Tuesday it wanted to return to Libya and resume oil and gas exploration work, which it halted earlier this year due to the uprising against Muammar Gaddafi’s rule. London-based BP has no oil and gas production in Libya and in February was preparing for the start of exploratory drilling in western […]

Qatar Airways will fly to Benghazi

Qatar Airways will fly four-times-a-week non-stop to Libya’s second largest city of Benghazi starting November 1, taking the number of destination launches by the airline to 15 during 2011. As part of the airline’s aggressive route expansion strategy to fly to diverse cities, Benghazi is yet another destination which is under-served and will benefit from […]

Bangladesh Set to Repatriate 40,000 Workers Back to Libya

Following the installation of the new leadership in Libya, the Bangladeshi government of Prime Minister Sheikh Hasina has decided to send back to Libya the repatriated workers to the foreign companies they were employed with in Libya before the conflict that ousted former Libyan leader Muammar Al Qathafi. About 36,000 to 40,000 Bangladeshi migrant workers […]

AMEC talks to Libya on oil, reconstruction

 British engineering firm AMEC is ready to move workers back into Libya as its new rulers attempt to restore oil production and rebuild the conflict-torn country’s infrastructure, AMEC’s chief executive said. Foreign firms evacuated expatriate employees from the north African country as it descended into civil war in late February. The end of fighting last […]