Libya transitional council sees delay to elections

The head of Libya’s National Transitional Council said he expected an election for the national assembly would be delayed, holding up a landmark vote in the transformation of the country following the fall of Moammar Gadhafi. The election for an assembly that will draw up a new constitution was originally scheduled for June 19. Mustafa […]

BP to resume operations in Libya

BP is to resume exploration activities in Libya that it suspended because of last year’s uprising, re-starting a relationship which under ousted Libyan leader Muammar Gaddafi landed the firm in the centre of a political storm. BP’s return is a milestone in the recovery of Libya’s energy sector, though this was tempered by an announcement […]

Weekly Security Review

 Projections Further violent incidents in Tripoli are expected, although the city will remain largely stable overall. As elections near there is likely to be a surge in the number of political demonstrations throughout the country, but mainly in major cities. Protests will focus on central squares, government buildings and hotels housing foreign media. Benghazi will […]

APICORP Expands Energy Trade Finance Services to the Arab World and Beyond

Arab Petroleum Investments Corporation (APICORP), the multilateral development bank owned by the member states of the Organisation of Arab Petroleum Exporting Countries (OAPEC), has just announced the signing of a trade finance services agreement with JP Morgan Treasury Services. This deal enables APICORP to significantly expand its range of trade finance services to energy companies. […]

BP to resume oil exploration in Libya

BP says it will resume oil exploration in Libya after suspending operations there earlier due to the violent uprising that ousted Moammar Gadhafi. The oil company said Tuesday it has lifted its “force majeure” declaration that had been in place since Feb. 21. The term is used when an oil company cannot cover the promised […]

Libya’s Agoco Oil Output to Pass Pre-Conflict Levels, IOD Says

Libya’s state-owned Arabian Gulf Oil Co.’s crude output could reach 450,000 barrels a day by the end of the year, surpassing pre-conflict levels, International Oil Daily reported, citing unidentified company officials. The company known as Agoco is now producing about 400,000 barrels a day, IOD said. The additional output will come from the company’s Messla […]

InterContinental looks to expand in Libya by 2017

InterContinental Hotels Group has announced that it is “actively pursuing” opportunities in Libya, with one hotel already in the pipeline. The group currently has an unbranded hotel in the country, but Leanne Harwood, vice president commercial, India, Middle East and Africa, IHG, told Hotelier Middle East that the group is looking for opportunities in Libya, […]