19 August 2013
One step forward, two steps back
Libya is currently facing arguably its biggest challenge since the end of the 2011 conflict.
It is not the recent wave of assassinations , the series of resignations from the interim government or the approval of the political isolation law, but rather the alarming and now sustained decline in oil production.
Only a few months ago all seemed to be going so well. In April, the state-owned National Oil Corporation (NOC), which manages Libya's energy sector, reported
12 June 2013
Plunge in oil output rings alarms bells
Yesterday's news that oil output has fallen to below one million barrels per day (bpd) shows the extent to which sit-ins, protests and strikes are starting to cut off the lifeblood of Libya's economy.
The alarming figures, issued by the National Oil Corporation (NOC), suggest that production has plunged by almost 40% from the 1.6 million bpd that were being pumped in April.
Output and exports have been disrupted by labour action at various oil fields and
09 June 2013
Army head resigns after Benghazi clashes
The chief of staff of the Libyan army, Yousef al-Mangoush, has stepped down in the wake of clashes in Benghazi on 7 June which killed some 30 people.
His resignation was accepted by the General National Congress (GNC), Libya's national assembly, on 9 June.
The clashes in Benghazi occurred when protesters reportedly held a demonstration outside buildings controlled by the Libya Shield, a brigade made up of fighters who took part in the 2011 conflict, to demand
14 March 2013
Last year's budget: how much was spent?
A recent report sheds some light on how the LD68.5bn ($55bn) budget, approved by the National Transitional Council (NTC) in March 2012, was used.
The Audit Bureau's 2012 report, which was issued last week, says that while budgeted spending came in at around LD13bn ($11bn) less than forecast, an additional LD10bn ($8bn) was spent from an emergency or extra-budgetary fund that included disbursements to families, debts from 2011, and additional funding for ministries and the armed
28 January 2013
Will the Algeria attack delay exploration in Libya?
The recent attack on the Ain Amenas gas complex in south-east Algeria, which killed some 37 foreign workers, has raised the question of whether oil and gas exploration in neighbouring Libya may be affected.
The Ain Amenas plant is partly owned and operated by BP, which also has rights over two concessions in Libya - one offshore block in the Gulf of Sirte, and another onshore area in the Ghadames basin of western Libya, not far
10 January 2013
The State of Libya
The General National Congress (GNC) yesterday voted to rename Libya as the 'State of Libya', meaning it officially ceases to have the longest name of any country in the world.
Prior to the 2011 revolution, Libya was officially called the Great Socialist People's Arab Libyan Jamahiriya (or GSPLAJ for short). The title was adopted in March 1977 with Gaddafi's declaration of the 'state of the masses'.
The new name, which was approved unanimously by the national assembly,
07 January 2013
Five trends to watch in 2013
A brief look at five factors that will shape the Libyan business environment in 2013:
Security and safety
While the situation on the ground is arguably better than portrayed, and varies widely from place to place, worries over everyday security and crime levels discourage consumer spending and investment by private companies. Major pieces of bad news - like the death of the US ambassador in September last year - also harm Libya's image more generally, and can
20 December 2012
Afriqiyah gets a makeover
State-owned Afriqiyah Airways has unveiled its new branding, replacing its old 9.9.99 logo with a simple blue and black design.
The design was unveiled at an event at the Rixos Hotel in Tripoli on 19 December. Afriqiyah's former logo carried the date of the Sirte Declaration, signed by African heads of state on 9.9.99, which led to the creation of the African Union.
Prior to 2011 the airline flew to a large number of destinations in west
18 November 2012
All change in government
Libya’s unelected interim government, in place since late 2011, finally stepped aside last week as the new cabinet led by prime minister Ali Zeidan moves into power.
The formation of a new government took longer than expected, with the first elected prime minister, Mustafa Abu Shagour, twice failing to have his cabinet proposals approved by the General National Congress (GNC) before being removed in a vote of no-confidence.
Zeidan, a former lawyer, then won another run-off to
22 October 2012
Decentralisation and its discontents
The potential role and responsibilities of a new Benghazi office for Libya's energy authorities, the Ministry of Oil and Gas and the National Oil Corporation (NOC), has generated strong reactions in recent weeks.
The ministry had officially announced the opening of its Benghazi branch in June, but this month appeared to run into trouble when a group of NOC employees in Tripoli protested about the powers being granted to the new office. In a statement posted
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