Local News: Economic News
Aoun expects oil production in Libya to rise to two million barrels within 3 years.
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Tripoli, January 8, 2023 (LANA) - The Minister of Oil and Gas, “Mohammed Aoun,” confirmed that Libya’s production of crude oil is witnessing a gradual increase in 2023, expecting it to reach two million barrels per day within 3 years.Aoun expected, in an interview with Al-Jazeera Mubasher, that the increase in production for the current year would be 1.3 million barrels per day, according to the corporation's activity and its completion of exploratory projects.Aoun revealed that Libya ranks... Read more
The American company (ConocoPhillips) assures minister of oil and gas its desire to continue investing in Libya.
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Washington, January 07, 2023 (LANA) - The Minister of Oil and Gas of the Government of National Unity, "Mohammed Aoun," and his accompanying delegation met in Washington, with the Head of International Governmental Affairs and Political Risks at the American company ConocoPhillips, "Josh Corliss," deputy Director of International Governmental Affairs and Political Risks in the company, "Mac Moore" at the request of company officials. The Office of Information and Communication stated that the Head of International Governmental... Read more
US officials assure Minister of Oil that US administration does not object to providing technical and practical assistance
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Washington, 5 January, 2023 (LANA) - Minister of Oil and Gas of the Government of National Unity, Mohamed Aoun, gave clarifications to officials of the US administration of the Ministry of Oil's vision for the future of the sector, and that the principle of transparency and good governance be the basis of its activity, methods of development, exploitation of oil revenues for the development of the Libyan state, and the smooth transition to alternative energies. .This came when he and his... Read more
Central Bank of Libya: (20.9) billion dinars transferred to the account (deposits and trusts) during 2022 for basic infrastructure projects.
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Tripoli, January 04, 2023 (LANA) - The Central Bank of Libya transferred (20.9) billion dinars to the account (deposits and trusts), which is an amount allocated for basic infrastructure projects approved by the Audit Bureau.In its monthly statement issued today, Wednesday, the bank confirmed that this amount was allocated for electricity projects, roads, bridges, schools, hospitals, sewage works, and local development across municipalities, based on multiple legal fatwas, and approvals issued in this.... Read more
Central Bank of Libya: Low customs revenues and revenues from sales of oil derivatives in the local market
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Tripoli, January 04, 2023 (LANA) - The Central Bank of Libya revealed a decrease in customs revenues, as only 211 million dinars were imported, which is not commensurate with the value of open documentary credits and goods supplied during the year 2022.In its monthly statement, the bank announced a decline in the domestic market sales revenues of oil derivatives, as only 265 million dinars were supplied during the same.... Read more
