Sonatrach Group is in the process of restarting activity in Libya having decided to lift a force majeure on operations in the North African country. A delegation from the Algerian state-owned oil and gas company met with representatives of Libya’s National Oil Corp. (NOC) in Tripoli. Oil and gas operations in Libya have been hit by recurring blockades. World Bank estimated the Libyan economy had shrunk by 1.2 percent last year due to a blockade of oil production during the first semester. Targeted to come onstream 2026, the project has two structures with a combined gas production of up to 750 million standard cubic feet of gas per day.

The Tripoli based Libyan Minister of Oil and Gas, Mohamed Aoun, received at his Tripoli headquarters on Sunday Sven Krauspe, the German Chargé d’Affaires, Deputy Head of the Mission in Libya. The meeting was attended by the Ministry’s Director General of Technical Affairs and the Technical Advisor. 25 of 1955 in Libya, and it succeeded more in oil production in the seventies after developing major discoveries in Sirte Basin. Germany interestedAl-Tarhouni reported that the German Chargé d’Affaires thanked the Ministry of Oil and its efforts to develop the sector and build strong relationships and effective partnerships with Libya’s partners in the oil and gas sector. He expressed his interest in the proposed projects, especially in the field of oil and gas, to develop the production capacity of oil and gas to supply Europe with what it needs in light of global conditions.

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The Tripoli based Libyan Minister of Economy and Trade, Mohamed Al-Hwej, met the Chairman and members of the Board of the Maghreb Bank for Investment and Foreign Trade on Sunday at the Ministry’s Tripoli headquarters. In an exclusive interview with Libya Herald, the Director of the Media Office at the Ministry of Economy, Fawzi Wadi, said that the meeting reviewed the basics of cooperation between the Ministry and its affiliated entities with the Maghreb Investment Bank and investment opportunities in the economic sectors in Libya. Presenting Libyan investment projects to international institutionsWadi indicated that this meeting comes within the Ministry of Economy’s plan to hold continuous meetings with regional and international institutions and financing bodies to present investment projects that the Libyan state supports in establishing. This investment map is to enable financing institutions to choose the appropriate investment projects that it can finance with mechanisms that suit it and with the active participation of the private sector, which is represented by the Chambers of Commerce. The aim of these meetings is presenting investment projects intended to be implemented in various sectors and working to provide possible facilities to create a real investment partnership that contributes to achieving the plan of economic diversification.

Political watchers also saw the appointment of Cameron and the dismissal of Braverman as Sunak positioning himself to fight the next election on more centrist ground. Cameron quit as prime minister in 2016 after losing the Brexit referendum, standing down as an MP that year, before later becoming mired in a lobbying scandal that was seen as tarnishing his reputation. Cameron became mired in scandal in 2021, after lobbying the UK government for finance group Greensill Capital, which later collapsed. "Of course I have disagreed with some individual decisions, but politics is a team enterprise," he said, praising Sunak as a "good prime minister." Polling in September suggested 45 percent of UK adults felt unfavorably towards Cameron, while only around a quarter held a favorable view.

Nigeria has ousted Libya, and Angola to regain its position as Africa’s top crude oil producer for October. The Organization of Petroleum Exporting Countries (OPEC) disclosed this in its monthly oil market report released on Monday. The oil production figures aside from condensate production from the top four oil producers in Africa were stated below:· Nigeria – 1.35 million barrels per day· Libya – 1.18 million barrels per day· Angola – 1.14 million barrels per day· Algeria – 961,000 barrels per dayAccording to secondary sources, total OPEC-13 crude oil production averaged 27.90 million barrels per day in October, higher by 80 thousand barrels per day month-on-month. Crude oil output increased mainly in Angola, Iran, and Nigeria, while production in Libya, Saudi Arabia, and Kuwait decreased. Also, the OPEC report shed light on Nigeria’s escalating inflationary pressure, primarily stemming from the removal of petrol subsidies and the devaluation of the naira.

This surge brings the total number of registered companies to an impressive 205,456, with a cumulative capitalization of PKR 4.24 billion for the newly incorporated entities. A breakdown of the registered companies reveals that 56% opted for the private limited company structure, while 41% chose to register as single-member companies. The remaining 3% diversified into public unlisted companies, not-for-profit associations, trade organizations, limited liability partnerships (LLPs), and foreign companies. A total of 2,281 companies used the SECP eService for registration with FBR, while 61 companies secured registration with the Employees Old Age Benefit Institute (EOBI). Additionally, 27 companies obtained registration with PESSI/SESSI, and 34 companies completed the registration process with the excise and taxation departments.

LONDON (AP) — Former British Prime Minister David Cameron made an unexpected return to high office on Monday, becoming foreign secretary in a major shakeup of the Conservative government that also saw the firing of divisive Home Secretary Suella Braverman. She was replaced by James Cleverly, who had been foreign secretary. It's rare for a non-lawmaker to take a senior government post, and it has been decades since a former prime minister held a Cabinet job. As prime minister he backed NATO-led military intervention in Libya in 2011 that toppled Moammar Gadhafi and deepened that country's chaos. “It’s difficult to believe that this is going to impress voters, whether they are convinced Brexiteers who despise David Cameron for being a remainer, or convinced remainers who despise David Cameron for holding and losing a referendum," he said.

LONDON, Nov 13 (Reuters) - David Cameron, 57, served as British prime minister from 2010 to 2016, resigning after the outcome of the Brexit vote, when Britain voted to leave the European Union. * In 2013, his government legalised same-sex marriage, which Cameron backed strongly, saying at the time: "I don't support gay marriage in spite of being a Conservative. Britain's former Prime Minister and newly appointed Foreign Secretary David Cameron reacts outside 10 Downing Street in London, Britain November 13, 2023. REUTERS/Suzanne Plunkett Acquire Licensing Rights* As prime minister, Cameron ordered military intervention in Libya, when Britain and its allies led international efforts to help oust then-leader Muammar Gaddafi in early 2011. However, Britain voted for Brexit and he announced he would quit as prime minister the following day.

A new UN political initiative was the focus of a telephone conversation yesterday between Chairman of the High Council of State, Mohamed Takala, and UN Envoy to Libya, Abdoulaye Bathily, revealed the council today. In a brief statement, the council also said that the two discuss political situation in Libya. It did not disclose any information about the initiative.

The Tripoli based Libyan Ministry of the Interior announced Sunday the reactivation of the toll-free number “192” in the Ministry’s Duty and Coordination Office. The number will be able to receive all reports and complaints from citizens 24 hours a day to contribute to speedy communication to combat crime or anything that puts public safety at risk, the Interior Ministry claimed. The Qaddafi era service had been out of service for decades.

The Franco-Libyan Transport Forum will be held from 11 to 12 December at MEDEF’s Paris headquarters. MEDEF, the Mouvement des entreprises de France, or the Movement of the Enterprises of France, is the largest employer federation in France, established in 1998. Explaining the rationale behind the event, MEDEF says connecting territories together, organizing themselves into “platforms” located on strategic nodes of dense networks, increasingly segmented and complex, logistics and transport infrastructures are at the heart of the challenges of development and diversification of the Libyan economy. It says the forum is an opportunity to “take stock of Libyan needs in the transport sector in the broad sense and take note of current and future projects.” MEDEF said the forum will also enable a better understanding of “the expectations of the Libyan authorities vis-à-vis French companies in the transport sector/transport infrastructure.”The forum will also “promote the expertise and comparative advantages of the French offer.” Furthermore, it will help participants understand “the business environment and the operating methods of French companies in Libya.”The event is co-organised by MEDEF International in France and the General Union of Chamber of Commerce of Libya. MEDEF invited interested parties to register online before December 6.

In the Roundtable, “Supporting the Private Sector in Fragile Contexts,” at the Paris Peace Forum 2023, Libyan Deputy Minister of Economy and Trade, Sohel Busheha, confirmed that the Libyan private sector has been strongly growing thanks to the support of Expertise France and the actions implemented together in order to accelerate the transition towards economic diversification, competitiveness of the private sector, and digitalization of the economy and the society. Expertise France’s CEO, Jeremie Pellet, underscored the vital role of private sector recovery and growth in addressing the underlying causes of fragility and conflict, thereby complementing state-building and peace-building efforts. He confirmed his unwavering commitment to providing a sustainable response to the most pressing imbalances impeding peace and development by facilitating the mobilization of various actors and especially the private sector. Expertise France continues to support the Libyan private sectorExpertise France said it continues to support the private sector in Libya, working diligently to enhance the business environment, facilitate economic reforms, and enforce digitalization and e-governance through the EU-funded project E-nable. The Paris event was co-organised by Expertise France and Proparco.

The Global Entrepreneurship Network Libya (GEN) launched its 2023 week of entrepreneurship events programme at an inauguration event in Tripoli yesterday. Various universities and educational and training institutes will be organising various events across the country. This includes the launch of the global entrepreneurship world cup and the scientific conference on entrepreneurship and innovation. Benghazi to hold conference and exhibition for Global Entrepreneurship Week from 25 to 26 November (libyaherald.com)

Malta supports a plan put forward by Cyrus to supply Gaza with humanitarian aid by sea but has made no commitment yet to participate actively. Several EU countries have backed the Cypriot plan, which also enjoys the support of European Commission President Ursula von der Leyen and European Council President Charles Michel. The maritime operation will allow larger volumes of aid to reach Gaza, which is currently besieged by Israeli forces. The Cypriot plan will require the green light from Israel that will want to check cargos for arms or other illegal goods. However, the plan has other obstacles, not least the lack of a large, safe port in Gaza.