Author Archive | editor2

Wintershall Invests in New Libyan Pipeline

Wintershall, the wholly-owned subsidiary of Germany's BASF, is sending a clear signal of its commitment to building a New Libya: together with the Libyan National Oil Corporation (NOC), Germany’s largest, internationally active crude oil and natural gas producer is building a new pipeline which will connect oil production from the Wintershall concession C96 and the […]

US Congress: Requests for Better Security were Rejected

In a letter sent to the State Department, congressmen Darrell Issa, R-Calif., and Jason Chaffetz, R-Utah, blamed the current administration for allegedly rejecting security improvement requests made by the U.S.'s Libya mission prior to the attacks on the U.S. Consulate in Benghazi. Margaret Warner reports: (Source: PBS)

FBI Investigation Continues on Benghazi Attacks

After officially announcing that terrorists were responsible for attacks on a U.S. Consulate in Benghazi, the U.S. intelligence community is pursuing alleged suspects. Margaret Warner talks to The Wall Street Journal's Siobhan Gordon and Greg Miller of the Washington Post for more on the state of security in Libya: (Source: PBS)

Libya Pushing Ahead with Islamic Banking

Libya hopes to start implementing its new Islamic banking law by the end of the year, according to a report from Reuters. Libyan central bank governor Saddek Omar Elkaber (pictured) said he expects strong demand among the public for sharia-compliant financial services. "The demand is so high in Libya so we set up a higher […]

Edison Wins Libya Gas Arbitration with Eni

The Court of Arbitration of the International Chamber of Commerce (ICC) has announced that Italian energy group Edison won a dispute with Eni to review the price of its long-term gas contract from Libya. According to a statement from Edison, which is owned by France's EDF, the court found the price review requested by Edison […]

Clinton Address to G-8 on Arab Countries in Transition

The following is the full text of the speech given by US Secretary of State Hillary Clinton to the G-8 on the subject of Arab Countries in Transition: Good morning. Let me start by thanking everyone for the contributions that you have already made to this partnership, and for your support of democracy in the […]

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Libya's Hydrocarbon Wealth

While Libya may have its problems, it has the great fortune to be sitting on a wealth of oil and gas to support its development. The country is currently producing around 1.6 million barrels a day of oil, and expects to increase this by 30,000-40,000 bpd by early 2013, when repairs to a pipeline in […]