Libya Sharara oil field production halted amid Haftar-Spain woes
Weeks of protests at the Spanish-operated Sharara Field, 900 kilometers (560 miles) south of Tripoli, led to production cuts from 250,000 barrels of oil per day to around 100,000 barrels. Libya’s UN-recognised government, which opposes Haftar, described the closure of the oil field as "new attempts at political blackmail" and highlighted that Sharara is an important "economic artery" for Libya. Special Envoy Ambassador Norland: “NOC Chairman Farhat Bengdara and I met to discuss the current production shutdown at Sharara field. Libya’s oil production is its economic lifeline. The Sharara oil field is operated by a joint venture between the NOC and four European companies.
Source:Libya Today
August 07, 2024 13:36 UTC
Stocks extend recovery, yen slides as BOJ reassures on rates
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Source:Libya Today
August 07, 2024 12:41 UTC
Libya Travel Ban Eased By India, Warning Against Non-Essential Trip
Libya Travel Ban Eased By India, Warning Against Non-Essential TripReading Time: 3 minutesNEW DELHI: India has recently eased its travel restrictions on Libya, a significant shift from its earlier stringent advisory. Previously, Libya was grouped with several other nations on India’s stringent travel ban list. The phrase “avoid non-essential travel” suggests that while the immediate risks may have diminished, there are still underlying issues that could pose dangers to travelers. In conclusion, India’s decision to relax the travel ban on Libya represents a cautious but optimistic reassessment of the security situation in the country. While non-essential travel is still discouraged, the lifting of the absolute ban indicates an improvement in conditions.
Source:Libya Today
August 07, 2024 11:38 UTC
Libya, EU discuss strengthening border protection in EUBAM's 7th mandate
Tripoli: The Libyan Foreign Ministry and the EU Border Assistance Mission in Libya (EUBAM) discussed the second half of the mission's 7th mandate on bolstering Libya's capabilities in protecting its borders. The two sides lauded "the positive results of the interagency cooperation and interaction within the framework of the sub-working groups" on land and maritime borders as well as organised crimes, it said. In May 2013, the EU Council gave the green light for the EUBAM to support the Libyan authorities in bolstering the security of Libya's borders. The EUBAM's core mandate is to contribute to enhancing the capacity of the Libyan authorities and agencies to manage Libya's borders, fight cross-border crime including human trafficking and migrant smuggling, and combat terrorism. On June 26, 2023, the EU Council extended the mandate until June 30, 2025.
Source:Libya Today
August 07, 2024 10:51 UTC
Oil Prices Increase as Libya Oil Field Halts Production
Oil Prices Increase as Libya Oil Field Halts ProductionOil prices increased in the global commodity market early on Wednesday as Libya’s largest oil field halted production, raising supply concerns. The halt in production at Libya’s largest oil field has also intensified supply concerns in the market. If a rise in crude oil inventories is confirmed, prices are likely to climb further. Oil prices moved lower yesterday. #Oil Prices Increase as Libya Oil Field Halts Production Liquidity: Banks Drive Yield Surge with T-Bills Selloffs
Source:Libya Today
August 07, 2024 09:27 UTC
Türkiye intervenes in South Africa’s genocide case against Israel at The Hague
Türkiye will submit its dossier today in The Hague to intervene in South Africa’s genocide case against Israel at the International Court of Justice (ICJ). Nicaragua, Colombia, Libya, Mexico, Palestine and Spain have also requested to intervene in South Africa’s case. According to the rules, the Court will notify the parties involved in the ongoing case, South Africa and Israel, about the intervention declarations and request their written statements. Commenting on Türkiye’s step in The Hague is a right granted to all states under the Court’s statute, experts said. “From the very first moment, we, as Türkiye, declared that we would intervene in this case and on May 31, our embassy in The Hague officially registered that we would intervene in this case by submitting a note to the International Court of Justice,” Yuksel said.
Source:Libya Today
August 07, 2024 05:08 UTC
Oil Prices Settle Higher On Signs Of Tighter Supply
Oil prices settled higher on Tuesday, bouncing off multi-month lows hit in the previous session, as investor attention turned to supply tightness and financial markets recovered from their recent slump. Recent declines in crude oil and fuel inventories at major trading hubs are also supporting oil prices. “Oil fundamentals are still suggesting an undersupplied oil market, with oil inventories still falling,” UBS analyst Giovanni Staunovo said. Global oil inventories decreased by around 400,000 bpd in the first half this year, according to US Energy Information Administration (EIA) estimates published on Tuesday. Still, Goldman Sachs said its economists see recession risk as limited and believe oil prices will find support in coming weeks from strong demand in the West and India.
Source:Libya Today
August 07, 2024 00:55 UTC
Municipality of Kufra calls for precautionary measures to confront expected heavy rain
The Acting Mayor of the Municipality of Kufra, Masoud Suleiman, has called on the security and medical services and the Red Crescent to take all precautionary measures due to expected weather fluctuations during the coming days. Suleiman said that heavy rain is expected in the municipality and its surrounding areas. He stressed the importance that the Electricity Distribution Department in Kufra turn off the network during the rainfall, given that the network is not prepared to operate under unstable weather conditions, according to the municipality.
Source:Libya Observer
August 07, 2024 00:52 UTC
India Relaxes Travel Ban On Libya, Urges To Avoid "Non-Essential Travel"
Last week, the Indian Embassy in Lebanon advised all Indians to leave Lebanon. The modified statement advises the Indian nationals to "avoid non-essential travel to Libya." "In partial modification of MEA's Press Release dated 23 May 2016 imposing ban on Indian nationals traveling to Libya and in response to our assessment of the prevailing security situation in Libya, Indian nationals are advised to avoid non-essential travel to Libya," the release stated. The MEA has also urged Indian nationals to exercise caution and stay in contact with the Indian Embassy in Tripoli. It also asked them to remain in touch with the Indian embassy in Beirut.
Source:Libya Today
August 06, 2024 21:20 UTC
Libya, US discuss political process developments
QNATripoli: Deputies of the Libyan Presidential Council Musa Al-Koni and Abdullah Al-Lafi, discussed on Tuesday with the US envoy to Libya Richard Norland, the developments of the political process in Libya. The media office of the Presidential Council said that the two sides stressed during the meeting the importance of combining local and international efforts concerned with the Libyan issue, to prepare a political project that addresses the deadlock and paves the way for achieving the electoral entitlements. The meeting touched on the service and security conditions in the southern region, in coordination with the Presidential Council.
Source:Libya Today
August 06, 2024 20:30 UTC
Art exhibition held in Tripoli
"Al-Saraya Embraces Libyan Artists" Exhibition was held at Al-Saraya Al-Hamra in Tripoli, organized by the Creative Fingers Association for Culture, Arts and Awareness, in cooperation with the Antiquities Authority. Plastic artists and painters participated in the exhibition and displayed their latest artworks.
Source:Libya Observer
August 06, 2024 20:06 UTC
Asia’s ascendance in global power dynamics
In the aftermath of World War II and during the Cold War, the global power landscape experienced a dramatic shift. This emerging alliance, alongside African and South American allies, seeks to counterbalance US influence and maintain global power equilibrium. The global power dynamics are shifting, with Asia increasingly asserting its influence. Under the leadership of figures like Vladimir Putin and Xi Jinping, countries in Asia are forming strategic alliances that could redefine global power structures. The potential for a robust Asian bloc, supported by African and South American allies, signifies a significant shift in global power.
Source:Libya Today
August 06, 2024 19:08 UTC
External Affairs Ministry Asks Citizens To Avoid Non-Essential Travel To Libya
India on Tuesday issued an advisory asking its nationals to 'avoid non-essential travel' to Libya, in a partial modification of its 2016 advisory imposing ban on the Indian nationals travelling to the African country. In a statement, the Ministry of External Affairs said the Indian nationals in Libya are advised to 'exercise caution' and 'avoid inter-province travel by road' and remain in contact with the Indian Embassy in Tripoli. "In partial modification of MEA's Press Release dated 23 May 2016 imposing ban on Indian nationals traveling to Libya and in response to our assessment of the prevailing security situation in Libya, Indian nationals are advised to avoid non-essential travel to Libya," it said. "Indian nationals may please take note of the travel ban for compliance. The travel ban is effective from 3 May, 2016 till further orders," the 2016 statement said.
Source:Libya Today
August 06, 2024 18:25 UTC
Libya reduces production in largest oilfield due to sit-ins
TRIPOLI, Aug. 6 (Xinhua) -- Libya's state-owned National Oil Corporation (NOC) on Tuesday announced a reduction in output at the Al-Sharara oilfield, the largest in the country, due to sit-ins. "The National Oil Corporation announces the start of a partial reduction in production in the Al-Sharara oilfield due to force majeure conditions resulting from the sit-ins of the Fezzan Movement," NOC said in a statement. "The Corporation calls on the concerned parties to take into account the national interest and support the Corporation's efforts aimed at stabilizing and increasing (oil) production," the statement added. The Libyan government on Sunday condemned the attempts to disrupt oil production in the oilfield, saying it would take "all necessary procedures to protect the interests of the people." The Al-Sharara oilfield is located some 900 km south of the capital Tripoli.
Source:Libya Today
August 06, 2024 18:15 UTC
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India lifts ban on nationals travelling to Libya, advisory says avoid non-essential travel
India has updated its travel advisory for Libya, lifting a full travel ban and now urging nationals to avoid non-essential travel while exercising caution. “In partial modification of MEA’s Press Release dated 23 May 2016 imposing ban on Indian nationals traveling to Libya and in response to our assessment of the prevailing security situation in Libya, Indian nationals are advised to avoid non-essential travel to Libya,” it said. In its May 23, 2016 statement, the MEA had said that “in view of prevailing security situation in Libya, security threats and challenges to lives of Indian nationals in Libya, the Government of India has decided to impose travel ban on Indian nationals planning to travel to Libya irrespective of the purpose”. “Indian nationals may please take note of the travel ban for compliance. The travel ban is effective from 3 May, 2016 till further orders,” the 2016 statement said.
Source:Libya Today
August 06, 2024 17:42 UTC