Algeria, Libya Increase Cooperation in Trade, Security

Algeria has announced plans to providing support to the new Libyan government in the area of security. At the end of a two-day visit to Algiers, Libyan Prime Minister Ali Zeidan [Zidan] said: "Algeria and Libya have reached agreement over a number of initiatives in the field of security co-operation which will be launched in […]

Libya to Sweeten Terms for Foreign Oil Companies

Reuters reports that Libya plans to improve the terms for foreign oil companies ahead of its next licensing round, which could begin as early as the third quarter of 2013. OPEC member Libya has reserves of over 40 billion barrels, but analysts have warned that some of the toughest terms in the business could act […]

Egyptian President OKs New Road to Libya

Egyptian President Mohamed Morsi (pictured) has given the green light to build of a new road to the Libyan border, 250 kilometres south of the current coastal border crossing at Musaid. According to the report from Libya Herald, the aim is to improve trade and manpower links between Upper Egypt and Libya; at least a […]

TPOC Lifts Force Majeure

The Turkish Petroleum Overseas Company (TPOC) has lifted its force majeure in Libya with effect from 12th December, and has reported that it will return to exploratoration in the country. The company's General Manager, Mr. Mehmet Wissal, and Deputy GM, Mr. Bassem Shishiman, met the National Oil Corporation (NOC) Chairman Nuri Berruien [Nuri Balrwin] to […]

Uganda, Kenya Cancel Tamoil Pipeline Contract

Uganda and Kenya have cancelled a contract with Libya’s Tamoil East Africa Ltd to build a 352-kilometer (219-mile) reversible-flow oil pipeline linking the Ugandan capital Kampala with the western Kenyan city of Eldoret. Irene Muloni, Uganda’s energy minister said: "We canceled the Tamoil contract .. If you do not fulfill the terms of an agreement, […]

UK pays £2.2m to Settle Libyan Rendition Claim

The BBC reports that the UK government has agreed to pay £2.2m to a Libyan dissident and his family who say MI6 was involved in their illegal rendition. Sami al-Saadi (pictured), along with his wife and four children, were forced on board a plane in Hong Kong and transferred to Colonel Muammar Gaddafi's Libya in 2004, […]

Al Ghurair: No Plans to Sell Stake in Ras Lanuf

Gulf Business reports that UAE group Al Ghurair says it has no intention yet of selling its half ownership of Libya’s biggest refinery, Ras Lanuf. “We are committed to our investment,” Vice Chairman Essa Al Ghurair (pictured) said on Tuesday. His company had planned to invest an additional $2 billion to upgrade the facility, but due […]

Libya to Resume Work on Sirt-Benghazi Railway

The Vice-President of Russian Railways, Alexander Saltanov (pictured), has told journalists that Libya is indicating that it would like to resume construction of the Sirt-Benghazi railway. The company was building the railroad, which was to run along the Mediterranean coast and join several large cities, later becoming part of an international transport corridor in the […]