Libya’s Agoco says may stop output due to protests

Libya’s Arabian Gulf Oil Company (Agoco) may halt production of crude if authorities do not put an end by Thursday to protests that have closed off its headquarters for a week, a company spokesman said. Protesters have prevented Agoco employees from entering its Benghazi-based office since last Monday, calling for more transparency over how Libya’s […]

Former Libyan PM drowned in Danube, police insist

Viennese police insisted on Monday that a former Libyan premier found dead in the river Danube had drowned, but a Libyan security source suggested he could have been murdered by political enemies. Libya’s former prime minister and oil minister Shokri Ghanem’s fully clothed body was found in the Danube in Vienna on Sunday, a few […]

Islamic insurance body visits Libya

A delegation from the Islamic Corporation for Insurance and Investment, part of the Islamic Development Bank (IDB), has visited the Libyan Exports Development Centre. The Libya Herald reports the delegation was met by the director of the centre, Ali Owheyda, and the head of its exporters’ support office. The visit aimed at finding ways of […]

ENI profits soar 42% as Libya output resumes

Italian oil giant ENI said that its first quarter net profit soared 42 per cent to €3.617 billion on the resumption of production in Libya and higher crude prices. Overall output, however, fell slightly by 0.6 per cent to 1.674 million barrels of oil equivalent per day, although the company said it was expecting production […]

Libyan-Owned Tropical Bank of Uganda Posts Loss as Deposits Drop

Tropical Bank Ltd., the Libyan- owned lender seized by Uganda’s central bank last year, said it posted a loss in 2011 after customer deposits declined. The loss totaled 624.2 million shillings ($249,256) in the 12 months through December, compared with a profit of 5.6 billion shillings a year earlier, the Kampala-based bank said in a […]

Libyan radio channel to promote Turkey

A Libyan radio channel, established through contributions from Turkey, will promote Turkey. The radio channel, established with contributions from the Turkish International Cooperation and Development Agency (TİKA), will begin broadcasting soon on the FM band. TİKA provided all the necessary equipment for the radio channel, which will broadcast in Arabic and will promote Turkey as […]

Libya’s Gaddafi-era oil chief found floating dead in Danube

Libya’s former top oil industry official, Shokri Ghanem, has been found floating dead in the River Danube in Austria, police said on Sunday. Ghanem, 69, had been chairman of Libya’s state-owned National Oil Corporation (NOC) before defecting last year several months after opponents of Muammar Gaddafi had risen up against the Libyan leader and begun […]

Libya leader says government to stay put until elections

Libya’s ruling National Transitional Council (NTC) decided on Sunday to keep the interim government in power in the run up to a June election, its leader said, quashing rumors of a reshuffle that has sowed uncertainty in the strife-torn state. The NTC is the unelected body internationally recognized as the ultimate power in the country […]