Singapore – Gold continued its decline today, Monday. Spot gold fell 1.5 percent. US gold futures for February delivery rose 1.6 percent. Silver had recorded an unprecedented high of $121.64 on Thursday. Platinum had hit an unprecedented high of $2918.80 on January 26.
TGS, a global provider of energy data and intelligence, has today announced the signing of a Letter of Intent (LOI) with North Africa Geophysical Company, (NAGECO),a subsidiary of the Libya National Oil Corporation (NOC), marking an important step toward expanding multi-client data activities in Libya. The LOI was signed during a formal ceremony attended by Mr Masoud Suleman, the Chairman of the National Oil Corporation, and MR Maged Elarbed, head of NAGECO. 'This Letter of Intent represents an important milestone in our engagement with Libya and the National Oil Corporation,' said David Hajovsky, Executive Vice President, Multi-Client at TGS. Our focus is on delivering trusted data quality, technology and expertise that supports informed decision-making and long-term value creation for Libya’s energy sector.' TGS has a long-standing track record of delivering multi-client data solutions globally, including seismic reprocessing and integrated subsurface intelligence.
China’s Stance on Libya’s Factions: Cautious and Calculated NeutralityAlthough China abstained from Resolution 1973, it was quick to criticize NATO airstrikes. At first, the NTC viewed Beijing warily amid accusations that China had sought to skirt the arms embargo to supply Gaddafi. However, through sustained diplomatic outreach after the war, China managed to repair relations with Libya’s post-Gaddafi leadership. Jalel Harchaoui argued that this preference is also motivated by economic concerns, (this reflects a broader tendency to view China’s Libya policy as “economy first” by default). His research interests include China-EU relations, the history of Sino-European relations, and Chinese foreign policy in the wider Mediterranean region.
Semifinalists in both the men’s and women’s singles will automatically secure their places at next month’s World Cup in Macao. President of ITTF Africa, Wahid Oshodi, praised the Libyan Table Tennis Federation for its commitment to staging the tournament. “The ITTF Africa Cup has become a strong reflection of the continent’s rising influence within the international table tennis landscape. “The ITTF Africa Cup provides an invaluable opportunity for our players and teams to sharpen their preparations, foster competitive excellence, and nurture the spirit of table tennis throughout the region,” he noted. “2026 marks 100 years since the founding of the ITTF and the first World Table Tennis Championships in 1926.
Now, Libya’s average oil production stands at around 1.4 million bpd, according to the National Oil Corporation (NOC), having steadily climbed back up after several years of stagnation. In January, Libya and Egypt signed a memorandum of understanding (MoU) to strengthen bilateral cooperation in the oil and gas sector. That said, the political situation remains fraught, with major implications for the oil and gas sector.”After years of stagnation, Libya is seeking foreign participation in its energy sector once again, aimed at expanding the country’s oil and gas production. This could bring in much-needed energy revenues over the coming years and support regional energy cooperation. However, operational success will depend heavily on whether Libya’s political stability is maintained.
The Tajoura Municipal Council held an expanded meeting on Sunday to discuss final arrangements and security and administrative preparations for the municipal council elections scheduled for Saturday, 7 February 2026. The meeting reviewed the latest logistical and organisational measures aimed at ensuring the smooth conduct of the electoral process in an orderly and secure environment. It also examined mechanisms to strengthen coordination and joint cooperation between security agencies and representatives of the High National Elections Commission at polling centres across the municipality. Participants stressed the importance of creating appropriate conditions to enable citizens to vote easily, in line with the highest standards of transparency and credibility. The meeting was attended by the security director, the head of the General Administration of Operations, the chairman of the High National Elections Commission, senior security officials, and officers tasked with supervising electoral districts within Tajoura municipality.
It focused on discussing and reviewing the draft National Strategy for International Cooperation. It involves drafting foreign cooperation policies. He is the Head of the Foreign Affairs and International Cooperation Committee in the House of Representatives. This occurs in preparing regulatory frameworks for international cooperation. This support is for adopting the National Strategy for International Cooperation.
Prime Minister Abdulhamid Dbeibeh met on Sunday with the head of the High Council of State, Mohamed Takala, to discuss the latest political and economic developments in the country. According to a statement, the talks stressed the importance of continued coordination among national institutions to support stability and advance Libya’s political and economic track. Both sides also agreed to maintain cooperation between the government and the council’s committees to ensure institutional coordination and address shared issues.
The General Authority for Communications and Informatics Authority in Tripoli announced the launch of an intensive training programme in cooperation with the Ministry of Foreign Affairs and International Cooperation and the Indian Embassy, within the Indian Technical and Economic Cooperation (ITEC) programme yesterday. The Authority says the training reflects a practical embodiment of the objectives of the National Strategy for the Communications and Informatics Sector 2023-2027. It says this programme comes as a direct executive step to the national capacity building and localization of advanced technologies stipulated in the strategy, as it aims to qualify Libyan engineers and technicians in the fields of quantum computing, artificial intelligence, and emerging technologies, to support the paths of digital sovereignty and the technological transformation of the state. The programme was launched in January 2026 and will last for a full year and will be implemented in specialized technical centers in India under the supervision of specialized experts, where participants receive intensive practical training, applied workshops, and advanced specialized lectures. The Authority explained that this programme represents a practical path to transfer advanced knowledge and build national specialized expertise in the fields of quantum computing and artificial intelligence, in a way that contributes to supporting digital innovation pathways and enhancing national technical readiness, in line with the objectives of the National Strategy for the Sector.
Reflecting on the very successful Libya Energy & Economic Summit 2026 (LEES), held in Tripoli from 24-26 January, AmCham Libya President Debbie Hirst said she was very pleased to organize the Second AmCham Pavilion at LEES 2026. The 2026 Pavilion built on the success of last year’s Pavilion, and was made up of 17 companies, including some of the world’s greatest in the energy sector. LEES 2026 had a very American flavour this yearLEES had a very American flavour this year. ConocoPhillips and Chevron headlined LEES with signing ceremonies. Prime Minister Aldabaiba and Boulos toured the AmCham Pavilion, which was great fun for the participating companies.
The new investigative film reported that Rifaat al-Assad demanded more than $200 million in 1984 to leave Syria after an armed power struggle with his brother, the late President Hafez al-Assad. The investigative film “Rifaat’s Empire” on Al Jazeera 360 revealed details of how Rifaat al-Assad built a vast fortune in the heart of Europe. Despite a prison sentence and an order to seize his assets, Rifaat was able to leave France in 2021 in official limousine cars, escorted by the Interior Ministry to the aircraft door. Former French intelligence officers attributed this “safe exit” to the intelligence services Rifaat allegedly provided to Paris for 30 years. The film said France’s “deep state” ultimately preferred a “deal of silence” over imprisoning him and exposing the secrets of mutual cooperation.
Libya’s Government of National Unity Deputy Minister of Defense, Major General Abdussalam Zubi, paid a courtesy visit to the Albayrak Group as part of his official visit to Türkiye. Zubi stated that they closely follow Albayrak Group’s investments across Africa and invited the group to undertake similar investments in Libya. AdvertisementThe meeting was attended by Albayrak Group Chairman Ahmet Albayrak, Vice Chairman Nuri Albayrak, and Board Member Faruk Albayrak. AdvertisementAbdussalam Zubi also visited Albayrak Media, where he showed interest in media activities. As part of his Türkiye visit, Zubi also held separate meetings with Foreign Minister Hakan Fidan, Minister of National Defense Yaşar Güler, and Chief of the General Staff General Selçuk Bayraktaroğlu.
In 2025, Libya’s total revenue reached 136.9 billion Libyan dinars ($21.7 billion) including 99.6 billion dinars in oil revenue and 17.2 billion dinars through oil royalties. Its total expenditure for the period was Dh136.8 billion dinars, with 73.3 billion dinars spent on salaries, and expenditure on subsidies amounting to Dh34.5 billion dinars, according to Libya central bank's data. Libya’s oil production has been disrupted in previous years by the unrest in the country. Last week, it announced investment worth $20 billion to increase oil production at Waha oilfield, in partnership with France’s TotalEnergies and ConocoPhillips. Chevron, a major US oil producer, also plans to return to Libya after leaving more than a decade ago.
The correspondence surfaced after the US Justice Department released an additional batch of documents Friday related to the Epstein investigation. The newly highlighted material includes a July 2011 email sent to Epstein that outlines what the sender described as financial and legal opportunities linked to political and economic uncertainty in Libya at the time. According to the email, about $80 billion in Libyan funds were believed to be frozen internationally, including roughly $32.4 billion in the US. The sender described “stolen and misappropriated” Libyan assets as potentially worth three to four times that amount. The email characterized Libya as a country with significant energy reserves and strong literacy rates, factors it said could be advantageous for financial and legal initiatives.
The Italian drilling vessel "Saipem 10000" has entered Libyan waters for a mission that could last several months, after departing from Egypt's Zohr gas field, according to media reports. The vessel is scheduled to return to Egypt during the third quarter of 2026 to resume its work in the deep waters of the Zohr natural gas field. The Saipem vessel, owned by the Italian company Eni, had been operating in Egyptian waters since January 2025 and conducted drilling operations at the Zohr field site for a full year.
