Tag Archives | Spain

EIB Committed to Private Equity in South Med

The European Investment Bank (EIB) has committed €20 million to the Capital North Africa Venture Fund II (CNAV II), a Maghreb-focused generalist fund managed by the independent Casablanca-based private equity firm, Capital Invest. CNAV II has reached a first closing of over €75 million and is targeting a final size of €100 million. Its primary […]

LIA Cooperates With SEC on Goldman Probe

The Libyan Investment Authority (LIA), the country's sovereign-wealth fund, is reportedly helping the US's Securities and Exchange Commission’s bribery probe into Goldman Sachs. According to The Wall Street Journal, the fund is cooperating with the SEC on an investigation into whether Goldman violated American anti-corruption laws, after the fund lost 98 percent, or $1 billion, […]

Repsol Discusses Exploration Plans in Libya

Platts reports that the chairman of Libya's National Oil Corporation (NOC) and held a meeting with a senior delegation from Spain's Repsol to discuss the company's exploration and production plans in Libya. Repsol's equity share of oil output from its Libyan concessions amounted to 14.07 million barrels of crude oil in 2012, and it accounts […]

Silence on Oil Deals "a Setback for Transparency"

The National Oil Corporation (NOC) has told Reuters that it will not reveal the details of its oil sales this year. While oil producers commonly keep details of crude deals secret, the agency reports that Libyan officials promised to publish details of Libya's oil deals following more than 40 years of secrecy under the Gaddafi […]

Cornerstone Laid at $100m Naseem Towers

The Elhasa Company for General Contracting has laid the cornerstone for the Naseem Towers project in Benghazi. Situated in Jaliana, near the Seville Hotel, the scheme involves the construction on five 20-floor towers, at a total cost of an estimated $100 million. Spanish, Turkish and Tunisian companies are undertaking the construction, which should be completed within 24 […]

Libya, Spain to Review Ghadafi-Era Contracts

Libya and Spain agreed on Monday form a joint committee to review the contracts signed by Spanish firms with the previous regime of Col. Muamar Ghadafi. According to the Libya Herald, the accord was reached during the visit to Tripoli of Spain’s foreign minister, Jose Manuel Garcia-Margallo, and its development minister Ana Pastor, who are […]

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Repsol to Resume Oil Drilling in Libya

Spanish oil firm Repsol is reported to be making final preparations to resume drilling in Libya early next year. The company currently has rights to nine blocks, seven of which, totalling 16,185 km2, are exploratory; and two of which, totalling 1,566 km2, are in operation. It made a discovery at block NC-115 in January 2011, […]

Repsol Profits Up on Libya Recovery

Spanish energy company Repsol has reported that adjusted operating income in third quarter 2012 was €634m, 97% higher than in third quarter 2011. This growth was mainly driven by greater liquids production volume in Libya, higher prices and volumes of Bolivian gas exports (Phase I Margarita) and the positive currency exchange impact, which was partially […]

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