Hitting a $100 per barrel – a new interest in oil exploration | PKF Malta
Talking to the media on the future of oil and gas sector in Malta most will quietly admit the disposition for risking money in the oil and gas sector is weak. A typical example is the lack of long term planning in the area of a weak R& D ecosystem and perhaps the need to explore oil and gas prospects now that the oil price has risen. An interesting three-day conference is planned to be held next October in Cyprus to discuss issues relating to this growing sector. These studies are an important tool for any investor who can use them in conducting business analysis now that the oil price is gradually increasing. Another harbinger is the rise in the price of oil now reaching over $77 a barrel.
Source:Libya Today
August 01, 2018 06:45 UTC
Egyptian forces kill five suspected militants north of Cairo
CAIRO: Egyptian security forces killed five suspected militants in a shootout in Qalyubiya province, north of Cairo, the interior ministry said in a statement on Tuesday. Egypt accuses Hasm, which emerged in 2016 and has claimed several attacks on security forces, of being a militant wing of the outlawed Muslim Brotherhood. Hasm has sometimes released statements claiming attacks against security forces. Police also arrested five other suspected militants during a separate raid in el-Marg neighbourhood in Cairo and confiscated weapons at a third location, the ministry said. As well as Hasm and Islamic State, security forces have faced attacks in its Western desert by Egyptian militants linked to al-Qaeda who security sources say are based in Libya.
Source:Libya Today
July 31, 2018 23:15 UTC
Oil posts biggest monthly loss in over a year
Oil prices posted their biggest monthly loss since March 2017 as some of the supply risks facing the market abated. Russia's oil production reached 11.22 million barrels a day this month as the caps imposed in a pact with OPEC eased, Interfax reported, while data from Kazakhstan's government showed that its output recovered. Meanwhile, President Donald Trump said he's open to talks with Iran just as U.S. sanctions on the country's oil trade take hold. Still, falling production in Venezuela, a civil war in Libya and impending American sanctions on Iranian oil have raised fears over a global supply crunch. Barclays has warned of "significant upside risk" for prices as sanctions begin to bite Iranian exports.
Source:Libya Today
July 31, 2018 22:41 UTC
HoR fails to vote on constitution referendum bill – adjourns for two weeks
HoR fails to vote on constitution referendum bill – adjourns for two weeksBy Sami Zaptia. London, 31 July 2018:The House of Representatives (HoR) failed to take a vote on the referendum bill for Libya’s draft permanent constitution in its official session in Tobruk today. It had carried out a reading of the bill in its session yesterday and planned to vote the bill into law in today’s session. The official spokesperson for the HoR, Abdalla Belheeg, reported that 104 members had attended today’s session, which lasted for about an hour and a half. Some members who had been prevented from entering the building by demonstrators yesterday were able to join today’s session.
Source:Libya Today
July 31, 2018 21:41 UTC
News Recap - Tue, July 31, 2018
Here is a recap of Tuesday’s news headlines from The Libya ObserverExchange Rates http://lyo.ly/5acGECOL starts campaign to remove illegal power line connections http://lyo.ly/8ivThree Egyptians found dead east of Libya http://lyo.ly/8iwCivil Aviation Authority closes down Tobruk International Airport http://lyo.ly/8ixDeputy head of the UNSMIL meets head of Audit Bureau on pending economic reforms http://lyo.ly/8j0Minister of Education announces date of primary and GCSE results http://lyo.ly/8iyDirector-General of Tripoli University Hospital: Hospital owes 80 million dinars worth of debts since 2013 http://lyo.ly/8j1Head of Libyan bakers blames lack of documentary credits for bread crisis http://lyo.ly/8j3Libyan Reuters, AFP journalists freed after hours of detention in Tripoli http://lyo.ly/8j6Libya's HoR: Voting on constitution referendum law postponed for two weeks http://lyo.ly/8j7Libya's Defense Minister rejects decision of Presidential Council to sack him http://lyo.ly/8j8
Source:Libya Observer
July 31, 2018 20:48 UTC
Libya's Defense Minister rejects decision of Presidential Council to sack him
The Defense Minister of the Libyan Presidential Council Mahdi Al-Barghathi said he rejects the decision to sack him by Fayez Al-Sirraj, saying the decision needs to be tackled by administrative judiciary. "It is also a violation of the Administrative Control Authority's decision that allowed me to resume my position." "Intentionally covering up the results of the Brak Al-Shaati military base crime's investigation is the cause of my dismissal from my post as Al-Sirraj received those results a year ago." "All Presidential Council members must take a stance regarding the behavior of Al-Sirraj that violate the Libyan Political Agreement and other laws." "We should all fight against the fait accompli policies and hegemony that are being exerted nowadays and return to the law and order."
Source:Libya Observer
July 31, 2018 20:26 UTC
60,000 Nigerians stranded in Libya
Related NewsThe Deputy Head of the European Union, Richard Young, on Tuesday said that about 60,000 Nigerians are being camped in Libya. According to the official, these Nigerians are stranded in Libya. Also at the event, NAPTIP launched four books to mark the occasion and had a lecture on human trafficking titled “Boundaries of Uncertainties”. Two of the books were written by the official, while the others were works of officers of the agency. The agency on Monday also launched a mobile application to ease and increase the participation and interaction of the general public in human trafficking matters.
Source:Libya Today
July 31, 2018 20:03 UTC
Nigeria: 60,000 Nigerians Stranded in Libya - EU
The Deputy Head of the European Union, Richard Young, on Tuesday said that about 60,000 Nigerians are being camped in Libya. According to the official, these Nigerians are stranded in Libya. Also at the event, NAPTIP launched four books to mark the occasion and had a lecture on human trafficking titled "Boundaries of Uncertainties". Two of the books were written by the official, while the others were works of officers of the agency. The agency on Monday also launched a mobile application to ease and increase the participation and interaction of the general public in human trafficking matters.
Source:Libya Today
July 31, 2018 20:03 UTC
Libya’s parliament delays voting on constitution referendum law 14 days
The House of Representatives (HoR) in eastern Libyan city Tobruk decided to delay voting on the law for the constitution referendum two weeks, tasing the consultations commission to devise a new mechanism for voting that will be obliging to all the MPs. Today’s session was another failure on many levels, including lack of full quorum and the fact that the MPs could not get the law passed in the current critical situation the country is going through. A brawl between two MPs also took a place during the gesso on Tuesday, with one accusing the other of receiving foreign currency bonuses for doing nothing. Libyan activists and social media users were so depressed to see the inaction of the HoR continuing without any development or efforts for a better decision0making by the MPs.
Source:Libya Today
July 31, 2018 19:30 UTC
Libya's HoR: Voting on constitution referendum law postponed for two weeks
The House of Representatives (HoR) adjourned on Tuesday the voting session on the draft law of the constitution referendum to two weeks later. "We need to investigate and find out who devised this article and integrated it into the draft law, which did not use to have this article at first." Article No.8(If the Libyan people rejected the constitution, the Constitution Drafting Assembly (CDA) would be no longer responsible for amending it; rather the HoR would form a committee to draft a new constitution for referendum in three months.) Whereas, those in favor of the current constitution draft insist the article must be removed and those who devised must be probed. Speaker Aqilah Saleh purposed to have the Consultative Commission devise mechanism for the voting and the quorum needed to do it.
Source:Libya Observer
July 31, 2018 19:28 UTC
Libyan Reuters, AFP journalists freed after hours of detention in Tripoli
A security bureau under the command of the Presidential Council's Interior Ministry freed Tuesday four Libyan journalists after detaining them for ten hours since last night, reported Libyan Center for Freedom of Press (LCFP). LCFP reminded on Twitter the Interior Minister Abdelsalam Ashour of the need to take precautions to protect journalists and to establish a friendly environment for dialogue between journalists and security personnel for the best interest of Libya. According to LCFP, the four journalists who work for Reuters and Agence-France Presse, were detained last night. "They were arbitrarily detained while on duty covering illegal immigration issues in Abu Sitta Naval Base in Tripoli." Libyan News agency, meanwhile, said the journalists were Hani Amara and Ahmed Al-Emmami of Reuters and Mahmoud and Hamza Terkiya of AFP.
Source:Libya Observer
July 31, 2018 18:45 UTC
Italian boat accused of breaking law by taking migrants to Libya
Rome, Jul 31(AFP) Migrant rescue charities operating in the Mediterranean said today that an Italian boat may have violated international law by taking more than 100 migrants it had saved back to Libya. The Asso Ventotto, an Italian offshore supply ship, picked up 108 migrants in international waters late yesterday. Local media reported that Italy's coastguard instructed the Asso Ventotto to coordinate the rescue operation with the Libyan authorities. Up until recently, the Italian coastguard led rescue missions and the migrants were taken to Italy. "Over the last hours the Libyan coastguard has saved and brought back 611 immigrants to Libya," he tweeted.
Source:Libya Today
July 31, 2018 15:11 UTC
Libyan assembly delays session on constitution bill
UN-backed roadmap calls for presidential and parliamentary polls, along with referendum on new constitutionBy Jihad NasrTRIPOLIEast Libya-based parliament on Tuesday adjourned for two weeks a session to vote on whether or not to hold a popular referendum on a new constitution. “Today’s session has been adjourned for two weeks to allow more discussion on the proposed referendum,” Assembly Speaker Aqila Saleh told lawmakers. She, however, did not give a specific date for holding the upcoming session. The assembly had held a closed-session earlier Tuesday to discuss a bill for holding the constitutional referendum, before the session was adjourned. A UN-proposed roadmap for Libya, unveiled earlier this year, calls for presidential and parliamentary elections and a popular referendum on a new national charter.
Source:Libya Today
July 31, 2018 13:52 UTC
Libya: Parliament Puts off Constitution Referendum Law Session
Libya: Parliament Puts off Constitution Referendum Law SessionLibyan parliament (File photo: Reuters)Cairo- Khalid MahmoudThe Libyan parliament postponed on Monday a vote over the constitutional referendum to Tuesday, following altercations by protesters who briefly shut down the building. In a scene that has been repeated several times at parliament, protesters hindered the entrance of some deputies to the building. Parliament spokesman Abdullah Belhiq said the Speaker Aqilah Saleh suspended the session, adding that they will hold another session Tuesday. Belhiq said 93 members attended the session and discussed the draft law, which divides the Libyan electoral process to three polling centers. Over the weekend, LNA spokesman Ahmed al-Mesmari described Barghathi as an officer working for terrorist groups.
Source:Libya Today
July 31, 2018 13:34 UTC
Deputy head of the UNSMIL meets head of Audit Bureau on pending economic reforms
The deputy head of the UN mission (UNSMIL) for political affairs, Stephanie Williams, met Monday with the head of the Audit Bureau, Khalid Shakshak, to review the economic developments and planned reforms. The deputy head of the UNSMIL stressed the importance of uniting government institutions.
Source:Libya Observer
July 31, 2018 12:33 UTC