$5 billion injection to help cure local ills

With the dust still to settle after the chaos of the Arab Spring, many foreign investors are thinking twice about sinking their cash into the region.  The International Finance Corporation (IFC), the private investment arm of the World Bank Group, is seeking to help make up the shortfall, however. It aims over the next three […]

Libya Pumps 1.4 Million Barrels a Day of Oil, NOC Chief Says

Libya is pumping 1.4 million barrels a day of crude and is on track to exceed what it produced before last year’s revolt against Muammar Qaddafi, said the chairman of the state-run National Oil Corp. The NOC expects Libya to pump 1.5 million barrels a day by early April and 1.7 million barrels a day […]

Libya amending bank law to attract foreigners

Libya is amending its banking laws to attract foreign investment and stimulate its private sector as it seeks to create an investor-friendly environment following last year’s war that ousted Muammar Gaddafi, the central bank governor said. In an interview with Reuters, Saddeq Omar Elkaber said the new Libyan leadership was working on creating the legal […]

Weekly Security Review

Tripoli Over recent weeks there have been unconfirmed reports of intelligence relating to apparent hostile groups looking to carrying out attacks in the city around the time of anniversary celebrations on 17 February. Although there remains a risk of one-off attacks even after the celebrations, it is unclear to what extent these hostile groups exist, and it […]

Greece eyes Libyan oil after Iran embargo

Greece said Thursday that Libya could plug the gap in the country’s oil supply created by an EU-imposed embargo on Iranian oil, which accounted for about a third of Athens’ imports. “Given that oil production in Libya is climbing back to pre-war levels, Libya is an alternative supply source,” foreign ministry spokesman Grigoris Delavekouras told […]