Abu Dhabi fund to take 2 seats on UniCredit board

Abu Dhabi investment vehicle Aabar, UniCredit’s biggest single shareholder, will have two seats in the Italian bank’s new, slimmed-down board, according to a list of board nominees presented on Monday. The new board will have 19 members, down from 23. Aabar, which has a 6.5 percent stake in UniCredit, said its chairman, Kadem Abdulla al-Qubaisi, […]

Libya on Recovery Path but Faces Long Rebuilding Effort

  Libya faces urgent, costly task of rebuilding its economy Improved institutions, management of resources to help unleash potential IMF remains committed to helping Libya through capacity building Libyan oil production has recovered faster than expected following the overthrow of Muammar Gaddafi, but the country faces the challenges of building modern institutions, repairing infrastructure, and […]

Libyan oil exports to total 1.29 million bpd in May

Libyan crude oil exports are expected to amount to 40 million barrels in May, or 1.29 million barrels per day (bpd), a senior official at Libya’s state-owned National Oil Corporation (NOC) said. NOC plans to sell 30 million barrels, while firms that receive oil for investing in Libyan production are expected to take 10 million […]

Abu Dhabi Crown Prince receives Libyan Prime Minister

General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces , on Sunday received Prime Minister of the Libyan Transitional Government Abdurrahim Al Keeb and the accompanying delegation. During the meeting, attended by Shaikh Abdullah Bin Zayed Al Nahyan, Foreign Minister, Shaikh Mohammad and Al […]

Weekly Security Reveiw

Projections Security in the capital and major cities will remain positive, although there will be an ongoing risk of sporadic clashes involving rival militia groups. The risk is heightened in areas of the north west of the country outside the capital Tripoli. The risk of small-scale attacks by unidentified hostile elements will also remain, and […]

Global Witness Calls For Libya To Learn From Gadhafi-Era Audit‎

International anti-corruption group Global Witness said Libya’s new government should learn from an audit conducted by the former regime into mismanagement and graft in the country’s oil sector. The audit, obtained by Global Witness and released on its website, outlines mismanagement to the tune of millions of dollars by the National Oil Co. and the […]

Med Crude-Urals firm on Asian bid, Libyan export to dip

Russian Urals differentials were supported in the Mediterranean on Monday by a bid from an Asian trader. But the gain in prices was limited as the west-to-east arbitrage export window failed to open, traders said.  Libyan crude oil exports are set to fall marginally in May from April. Trading in the sweet market was relatively thin […]