Libya on Sunday declared force majeure on the Sharara oilfield, according to the National Oil Corporation (NOC). The field, which had daily production of 300,000 barrels, has been closed due to ongoing protests, Libya’s NOC said in a statement. This closure has resulted in the suspension of crude oil supplies from the Sharara field to the Zawiya terminal. Negotiations are currently in progress to expedite the resumption of production, NOC.

Libya's state-owned energy firm said on Sunday it had declared a state of "force majeure" at Al-Sharara oilfield after production at the major facility was suspended due to protests. Declaring "force majeure" allows parties to free themselves from contractual obligations when factors such as fighting or natural disasters make meeting them impossible. "The closure has resulted in the suspension of crude oil supplies from the field to Zawiya terminal," the oil company said. RELATED Oil protests in Libya as Italy signs energy deal MENAThe interruptions in crude production have been caused by social and political protests amid clashes between rival factions. The blockages have resulted in hundreds of billions of dollars in lost revenue, according to the Central Bank of Libya.

Libya's National Oil Corporation has declared a force majeure on the Sharara oil field effective Sunday, January 7th, 2024, due to it's closure by protesters. The closure has resulted in the suspension of crude oil supplies from the field to Zawiya terminal. Negotiations are ongoing to resume production as soon as possible. Original announcement linkSource: Libya NOC

In its latest data for the whole of 2023 on revenues and spending released today, the Central Bank of Libya (CBL) revealed a continued increase in public spending – without a matching in earnings. Foreign exchange deficitWith a deficit of US$ 9.9 billion, the CBL confirmed in its latest monthly statement that the state’s revenues from foreign exchange in 2023 reached $25.4 billion, while its uses reached $35.3 billion. LD revenues cover spendingThe CBL announced that state revenues will reach 125.9 billion dinars, and spending will reach 125.7 billion dinars, during 2023. NOC spendingIt revealed that the National Oil Corporation’s (NOC) spending reached 17.5 billion dinars in 2023 from the Exceptional budget granted to it. The report indicated that the salaries item recorded a significant increase from 2022, in which the salaries amounted to 47.1 billion dinars, and from the 33.1 billion dinars for 2021.

TRIPOLI, Jan. 7 (Xinhua) -- The Central Bank of Libya said Sunday that the country's oil revenues in 2023 were 111.4 billion Libyan dinars (about 23.3 billion U.S. dollars). The central bank said of the total oil revenues, 99.1 billion dinars were oil sales and 12.3 billion dinars were oil royalties revenues. The country's total public revenues in 2023 were 125.9 billion dinars, while expenditures were 125.7 billion dinars, it added. In 2022, the country's revenues were 134.4 billion dinars, while expenditures were 127.9 billion dinars. Despite representing a major source of national revenues, Libya's oil and gas sector has suffered over the past years from armed conflict as well as oil field and port closures.

During lavish celebrations, the city of Benghazi opened its five newly constructed bridges yesterday. Regarding the locations of the bridges, Al-Araibi said that there is:1-A bridge at the intersection of the Fourth Ring Road with Al-Hawari Road (“the Directorate Bridge”). 2-A bridge at the intersection of the Fourth Ring Road with Al Orouba Road (“University Bridge”). 4-A bridge at the intersection of the Fifth Ring Road with the Airport Road (“Al-Masaken Bridge”). 5-A bridge at the intersection of the Fourth Ring Road with the Airport Road (“Al-Laithi Bridge”).

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Libya's National Oil Corp. declared force majeure at the Sharara oil field, the country's largest, on Jan. 7 after protesters shut the field, forcing supplies to be halted from the field to the Zawiya export terminal. Register NowTalks are underway to restart production as soon as possible, the NOC said on X, formerly Twitter. The nearby 70,000 b/d El-Feel was also shut last week but the NOC statement did not include an update on that field. One source, who spoke on condition of anonymity, said Jan. 3 that Sharara -- operated by a joint venture between Libya's NOC, Equinor, OMV, Repsol and TotalEnergies – would be forced to stop pumping when its storage tanks filled. Libya's oil output still remains well below the 1.6 million b/d it was producing before a 2011 uprising in the country.

The Libya Energy & Economic Summit takes place between 13-14 January and will be attended by Abela and Energy Minister Miriam Dalli, who will speak and participate in panels at the event. Abela is expected to discuss trade and commercial ties between the two countries and explore the feasibility of a proposed renewable energy interconnector project. None of the speakers or scheduled talks on the agenda seen by The Shift appear to deal with renewable energy, such as wind or solar power. Malta gets just 13.8% of its energy from renewable sources despite the Commission laying down a target of 42.5% by 2030. Under the terms of the Electrogas contract, the Maltese people are bound to buy from Electrogas despite the gas being supplied by a third party.

CAIRO – 7 January 2024: The Cabinet's Information and Decision Support Center (IDSC) issued a report Sunday revealing the top African markets that imported from Egypt in the first quarter of 2023. Those are Libya ($317 million), Sudan ($226 million), Algeria ($217 million), Morocco ($191 million), and Tunisia ($86 million). The total size of trade exchange between Egypt and other African countries recorded during that period $2.117 billion, divided into $1.611 billion in good exports, and $506 million in imports. Egypt’s exports declined 22 percent during the first nine months of 2023, recording $30.8 billion, compared to $39.4 billion during the same period of 2022, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS). CAPMAS added that the country’s imports decreased by 21 percent on a yearly basis, totaling $58.5 billion, compared to $74 billion for the same period in 2022.

For example, session cookies are used only when a person is actively navigating a website. Once you leave the website, the session cookie disappears. they record user activity and remember stateful information) and they get updated every time you visit a website. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences, such as which language you wish to see when you log in. Google Analytics uses analytical cookies placed on your computer, to help the website analyze a user's use of the website.

Over 100 migrants, primarily from Sudan and Chad, were transferred today from Benghazi to Kufra ahead of repatriation, according to Libya’s Directorate for Combatting Illegal Migration (DCIM). 109 migrants, 62 of whom are from Sudan and 47 from Chad, will leave the Ganfouda Shelter and Deportation Center in Benghazi, and get transferred to the Kufra Shelter and Deportation Center, said the DCIM Benghazi branch in a statement via its Facebook page. The migrants, some of whom suffer from contagious diseases such as Hepatitis C, were “caught through daily campaigns carried out by the branch within its jurisdiction,” the DCIM branch said.

With the risk of regional escalation, U.S. Secretary of State Antony Blinken kicked off an urgent Middle East diplomatic tour, his fourth since the Israel-Hamas war erupted three months ago. Hezbollah said it launched 62 rockets toward an Israeli air surveillance base on Mount Meron and scored direct hits in its “initial response” to Arouri's killing. The war in Gaza was triggered by a deadly Hamas attack on southern Israel in which militants killed about 1,200 people, mostly civilians, and took roughly 250 hostages. Israel has held Hamas responsible for civilian casualties, saying the group embeds itself within Gaza's civilian infrastructure. Blinken will visit Israel and the West Bank next week before wrapping up the trip in Egypt.

Newly-appointed charge d’affaires illegally took control of the Libyan Embassy in Paris while the Ambassador was outside France, according to the Ambassador, Khalid Kajiji. Kajiji said that the Foreign Ministry of Abdul Hamid Dbeibeh’s government had appointed Murad Hamima as a Charge d’affaires to represent him while he was outside France, so Hamima illegally seized control of the embassy, and the French authorities have not granted him diplomatic immunity until now. In a letter directed to the Head of the Administrative Control Authority, Kajiji said that Hamima took many decisions that led to a change in the administrative structure of the Embassy, replacing the employees in charge of administrative affairs and the secret department with other employees at the embassy, ​​as he tried taking control of the embassy’s bank accounts, but the bank refused to do so, and also seized the department’s seal of the Administrative Affairs Department at the embassy, taking the office keys from the employee he assigned. The letter stated that “the inherent jurisdiction to appoint ambassadors and officials of the Libyan stateabroad, according to the political agreement, as well as the outcomes of the Libyan Political Dialogue Forum, is for the Presidential Council.”“Ambassadors also exercise their powers based on your appointment of them and in accordance with the texts of the laws and regulations in force in the Libyan state. Therefore, what It is carried out by Mr. Murad Hamima, which is a circumvention of the powers of the Presidential Council based on the documents governing the structures of the Libyan state, is an attempt to limit their effectiveness, and usurp Powers not granted to him by law.”“While we disclaim responsibility for the effects that may arise from the actions of Mr. Murad Hamima and his legal, administrative and financial transgressions within the embassy, ​​we hope that you will take the measures that you deem appropriate in order to restore matters to normal and punish violators and those seeking to create chaos in the embassy, ​​and create a parallel entity through which carrying out business and controlling the embassy’s bank accounts illegally and harmful to the interests of Libyan state,” the letter addressed the Administrative Control Authority.