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Local News: Economic News

Akakus completes drilling two wells in Sharara field.

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Tripoli, 8 October 2024 (Lana): Akakus Oil Operations Company has completed drilling two development wells (A41H, A44) in the A-NC115 reservoir in the Sharara field, bringing their production capacity to 3,500 barrels per day. The National Oil Corporation said on its official page that the initial results showed that the two wells contain high-quality rock and reservoir properties, and they are expected to enter the production line in the near future. = ... Read more

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Board of Directors of the NOC discusses efforts to increase production rates.

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Tripoli 2 October 2024 (Lana) Board of Directors of the National Oil Corporation (NOC), headed by Chairman of the Board, Farhat Bengdara, held yesterday its 11th regular meeting for 2024 to discuss a number of topics related to the sector. According to the NOC’s communication office, the meeting discussed a number of oil sector issues, including the workflow of the affiliated companies and overcoming the difficulties they face within the framework of implementing the corporation's strategy to... Read more

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Libya and Nigeria agree to prepare a MoU on Nigeria’s gas pipeline to Europe passing through Libya.

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Tripoli 23 September 2024 (Lana): Libya and Nigeria have agreed to prepare a MoU to conduct technical and economic feasibility studies on Nigeria’s plan to implement a pipeline project to transport gas produced from its fields to export gas to Europe via Libya. The Ministry of Oil and Gas stated that last Friday Acting Oil and Gas Minister Khalifa Abdel Sadeg held a consultative meeting with Ekperikpe Ekpo, Minister of State for Petroleum Resources (GAS) of Nigeria, on the sidelines of GASTECH... Read more

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Sonatrach to resume its work in Libya.

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Tripoli 22 September 2024 (Lana) GNU-Minister of Oil and Gas, Khalifa Abdel Sadek, discussed with the CEO of the Algerian Sonatrach Company, Rashid Hachichi, enhancing strategic cooperation in the areas of energy and field services to preserve the interests of the two brotherly countries. This came on the sidelines of the last day of the GASTECH 2024 conference and exhibition held in Houston, USA, according to the Facebook page of the ministry. The two sides... Read more

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The Central Bank administration, assigned by the Presidential Council, confirms that the accounts, tax fees and reserves are still as they are in the records.

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Tripoli, September 18, 2024 (LANA) - The Central Bank of Libya administration assigned by the Presidential Council said that all accounts, including tax fees and reserves, are still as they are in the records and no action has been taken regarding them, considering that these procedures require approval from the competent authorities.The bank warned in a statement today, Wednesday, that its current administration has not implemented any accounting restrictions regarding tax fees or transferring any balances or other such... Read more

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