OPEC Oil Output Rose in October on Libya, Saudi Arabia, IEA Says

OPEC crude production rose in October as Libyan output recovered quicker than expected and Saudi Arabia pumped more, the International Energy Agency said. Daily supply from the Organization of Petroleum Exporting Countries’ 12 members increased to 30.01 million barrels a day in October from 29.91 million in September, the Paris-based agency said today in its […]

Libya Open for Business

Libya has declared itself open for business. A conference in London next week will promote Libya as an investment opportunity for British business. Billed as a sequel to a similar initiative in September, the conference aims to capitalize on the expectation that the new government of Prime Minister Abdel Rahim El-Keib will be favourably disposed […]

Turks, Europeans Lead Charge On Libyan Investment

Libya may be months from a new government, but the still-infrequent international flights to Tripoli are packed with businesspeople looking to land contracts with this oil-rich North African state. The Turks and Europeans appear to be moving quickly, while the Americans seem to be several steps behind. On one recent afternoon, the plush Rixos hotel […]

Arab Spring may turn page in Egypt-Libya economic relations

Can revolutions succeed where decades-old dictatorial systems failed, and usher in stable, mutually beneficial economic relations between Egypt and Libya? The coming months may bring the answer.  Last month's visit to Cairo by the chairman of Libya's National Transitional Council, Mustafa Abdul Jalil, came just days after he declared his country liberated, and opened what […]

Libya Explores Fund to Channel Investment Tied to Security Deals

Libya is considering the creation of funds to manage investment in infrastructure pledged by defense and security companies to win government contracts, according to consultancy Blenheim Capital Services Ltd. Blenheim has held initial talks with Libya’s interim National Transitional Council with a view to being taken on as an adviser to help set up the […]

Solar and Wind Energy Projects Planned in Libya

A German led initiative envisioned building EUR 400 billion vast networks of solar and winding farms across North Africa and the Middle East to provide 15% of Europe's electricity supply by 2050. Against this backdrop, Morocco has been chosen as the first location for the project. The Desertec Industrial Initiative, a coalition of companies including E.ON, […]