HSBC re-opens in Libya
HSBC closed its Tripoli office in February. With the end of hostilities and the rapidly normalising situation on the ground, the bank said it is able to re-open for business. HSBC’s representative office was first established in 2006, although the bank’s presence in Libya goes back almost 60 years, having opened its first branch in […]
Jordan eyes key role in reconstruction of Libya
Jordan is interested to have a key role in the reconstruction of Libya, Industry and Trade Minister Sami Gammoh told reporters on Thursday. The Jordanian private sector can offer services and assistance in the fields of health, pharmaceuticals, food industries, education and universities, the minister said, indicating that Jordanian construction firms have the capabilities to […]
Digicel, Part of Consortium to Take Over Libyan LAP GreenN
It emerged Friday that Digicel mobile group is now a part of a consortium proposing to pay $270 million (€204 million) for a majority stake in LAP GreenN, a mobile network owned by a Libyan state investment fund that was established in Africa in 2006. A report in The Irish Times indicated Saturday, that Centamon, […]
Newsmaker: Technocrat “oil man” takes charge of Libya lifeline
Libya’s new oil minister is seen as the right kind of technocrat, deeply experienced yet not too closely tied to the former regime of Muammar Gaddafi, to help restore the OPEC member’s economic lifeline after eight months of war. Abdulrahman Ben Yazza is in his mid-50s and brings experience from both Libya’s oil industry and […]
Eni to reach full Libyan production by June
Italian gas and oil company Eni says that its Libyan operations will reach prewar production of 280,000 barrels of oil equivalent a day by June. Eni CEO Paolo Scaroni told an oil and gas seminar on Thursday that daily production had already reached 200,000 barrels of oil. The remarks were authorized for release on Friday. […]
Libya’s oil flows at 750,000 bpd, recovery
Libyan oil output has climbed to 750,000 barrels per day (bpd) and remains on track to reach pre-war production levels by the end of next year, the chairman of the National Oil Corporation (NOC), Nuri Berruien said on Thursday. Before the February uprising, Libya pumped some 1.6 million bpd, but civil war brought flows to […]
GRTU calls for setting up of €50m Libya business support fund
GRTU, the Chamber of Small Enterprises, is insisting the government sets up a €50 million fund solely to help Maltese companies with funding to invest in Libya. According to the GRTU’s weekly newsletter Newstring, director general Vince Farrugia wrote to Finance Minister Tonio Fenech last Friday detailing “an urgent request to assist Maltese companies restarting […]
Vitol, Glencore win Libyan oil products tender
Trading giants Vitol and Glencore have won tenders to supply oil products to Libya’s government until the end of the year in a move that rivals said was increasing their chances to snap lucrative deals to export Libyan oil next year. Libya’s National Oil Corporation was seeking to buy up to 450,000 tonnes of gasoline, […]