Tag Archives | Libyan Investment Authority (LIA)

LifeCo to Restart Operations

Libya’s National Oil Corporation (NOC) has said it had restored natural gas supply to the Libya Norwegian Fertiliser Company (LifeCo). In a statement, the NOC said that factory operations are expected to restart shortly. The announcement follows discussions led by NOC’s chairman, Mustafa Sanalla, with LifeCo’s shareholders, the Libyan Investment Authority (LIA), and Norway’s Yara […]

Eni, BP, NOC sign Deal to Resume Libyan Exploration

National Oil Corporation (NOC) Chairman, Mustafa Sanalla, BP Group Chief Executive, Bob Dudley, and Eni CEO, Claudio Descalzi, signed a Letter of Intent (LOI) in London today which will launch the process for Eni to acquire a 42.5% stake in BP’s Exploration and Production Sharing Agreement (EPSA) in Libya, with an aim to boost in-country […]

LIA Leadership Battle “appears sub judice” in Libya – UN

By Padraig O’Hannelly. Those following the continuing battle for control of Libya’s sovereign wealth fund, the Libyan Investment Authority (LIA), may be interested to read the summary compiled by the UN’s Panel of Experts on Libya. In its final report, the Panel finds that the matter of legality of the formation and functioning of the […]

LIA asks English Court to Discharge Receiverships

 Libyan Investment Authority: Statement regarding Commercial Court application to discharge English Receiverships The Libyan Investment Authority (LIA) has applied to the English Commercial Court to discharge three receiverships in England by formally recognising the LIA’s Board of Directors, chaired by Dr Ali Mahmoud Hassan Mohamed, as appointed by the LIA’s Board of Trustees, which was […]

FMCP wins Libyan Fraud Case

By John Lee. London-based asset manager FM Capital Partners (FMCP), has reportedly won a court case against its former CEO over allegations of fraud and corruption relating to a Libyan sovereign wealth fund. Earlier this year, London’s Commercial Court heard evidence alleging that Frederic Marino and former Julius Baer banker Yoshiki Ohmura conspired to improperly […]

LIA forms Committee to respond to Audit Bureau

Dr. Ali Mahmoud, Chairman and Executive Director of Tripoli’s Libyan Investment Authority (LIA), held a meeting on recently with department directors and senior management consultants to consider their response to the report of the Audit Bureau for 2017, regarding the observations about the LIA and its subsidiaries. A committee has been formed to coordinate with […]

Medco signs Libya Oil Exploration Contract

The Libyan Investment Authority (LIA) has signed a contract with the Indonesian company Medco Energi extending the previous agreement relating to oil exploration in district 47. The signing was attended by the LIA Chairman and Chief Executive Dr. Ali Mahmoud, and Medco Energi’s General Manager in Libya Mr. Faisal Shita. Mr Shita said: “The initial […]

GNA to examine Total-Marathon Deal

By John Lee. According to a report from Reuters, Libya is considering whether to intervene in Total‘s $450-million deal to buy Marathon Oil’s stake in the Waha oil field. Officials told the news agency that the National Oil Corporation (NOC) may be interested in buying the 16.33-percent stake, possibly with funds from Libya’s $67-billion sovereign wealth […]