Tag Archives | Adam Nathan

Libya aims to raise Oil Production to 2.1m bpd

By Adam Nathan (@adamgnathan). Mustafa Sanalla, Chairman of the National Oil Corporation (NOC), said Libya plans to raise its oil production level from 1.25 million barrels a day now to 2.1 million bpd by 2024. Sanalla revealed the ambitious production target at a one-day conference organised by the Libyan British Business Council (LBBC) in Tunis […]

Tripoli Airport “to Re-Open by Christmas”

By Adam Nathan (@adamgnathan). Tripoli’s Mitiga International Airport will reopen “within the next month”, according to Dr Mohamed Bitelmal, President of the Libyan Airports Authority (LAA). Located on the city’s eastern outskirts, the Libyan capital’s only functioning airport has been closed for three months following bombardment by forces loyal to eastern-based military commander Khalifa Haftar. Since […]

Haftar’s Forces Advance on Tripoli

By Adam Nathan (@adamgnathan). The international community has called for calm and restraint in Libya as forces loyal to General Haftar (pictured) moved steadily closer to the capital Tripoli. On Thursday, Haftar’s forces took over Gharyan, a town 100km south of Tripoli. By 3pm local time on Friday, his self-styled Libyan National Army (LNA) had seized […]

Head of Libya’s $66bn Sovereign Wealth Fund Resigns

By John Lee. The head of the $66-billion Libyan Investment Authority (LIA) has reportedly resigned. Ali Shamekh (pictured) said that that divisions within Libya had made it impossible for him to implement a viable program at the sovereign wealth fund, according to a report from Reuters. He also repeared his warning that the LIA’s assets […]

Finance Ministers discuss Libya’s Challenges

By Adam Nathan. The Libyan Minister of Finance Dr. Osama Hammad participated Thursday in Malta in launching the meeting of the finance ministers of the Group 5 + 5 for the countries of the Mediterranean Basin on the economy and finance. The second meeting, which takes place two months after the first meeting held on […]

Interview: New LIA boss plans to fund Libyan Infrastructure

By Adam Nathan. The newly-appointed Chief Executive Officer (CEO) of the Libyan Investment Authority (LIA), the country’s sovereign wealth find, which holds $67 billion of assets, said he is seeking to work and co-invest with international investors including major oil companies to boost his country’s wealth. In his first interview with the media, Mr Ali Shamekh […]

Govt plans “Unity Army” to Halt Internal Conflicts

By Adam Nathan. The Government of National Accord (GNA) of Libya is planning to build a new ‘unity army’ to stem conflict between rival militias in the country. “Our strategy currently is to inform different military groups that we welcome anyone willing to join the new army but also making it clear they will have […]

Liquidity Crisis: 26bn Dinars “Hidden Under Mattress”

By Adam Nathan. The new Government of National Accord (GNA) of Libya is working with the Central Bank of Libya (CBL) to encourage people to put their money back into the banks to end Libya’s liquidity crisis. An on-going liquidity crisis in Libya sees regular long queues outside banks to withdraw Libyan dinars and foreign […]