Libya Herald | AmCham Libya restarts operations Libya Herald As part of the reactivation, the head of AmCham Libya, Debbie Hirst, was in Tunis today to sign a memorandum of understanding today with Amcham Tunisia president Khaled Babbou. It reflects the current situation in which many Libya business are ... |
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AmCham Libya restarts operations - Libya Herald
Libya Herald | LEF presents social security initiative to UN to protect Libya's new poor Libya Herald The Libya Experts Forum (LEF) has presented an initiative to UNSMIL, UNDP and the World Bank on a Libyan Social Protection Strategy. The proposal was presented today on the first day of the two-day 5th LEF meeting in Tunis by LEF member and ... |
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LEF presents social security initiative to UN to protect Libya's new poor - Libya Herald
The interim government based in the eastern city of Bayda has deplored the 28thArabLeagueSummitin Jordan, accusing the Arab League of imposing a trusteeship government in Libya.
In a statement on Thursday, the government, led by Abdullah Al-Thani, criticized the of the head of UN-proposed Presidency Council Fayaz Sirraj in the summit and accused him of telling lies to the Arab leaders.
The Arab League insists that this unconstitutional body represents Libyans, the statement remarked, adding that the interim government should have been invited instead of the Presidency Council.
The final communique of the Arab Summit has called for providing political support to the Presidency Council and stop dealing with parallel institutions.
Al-Thani reacted in his statement that dealing with Fayaz Sirraj government will only add more chaos and would prolong political fragmentation, accusing the government of Fayaz Sirraj of leading a war between Libyans.
We are very sorry that Libya has been represented by this illegitimate body; it is a violation of the constitutional legitimacy in Libya, the statement said.
Meanwhile, so-called the National Sovereignty Bloc of the House of Representatives has called for suspension of Libyas membership in the Arab League after the latter had invited the Presidency Council to represent Libya in Amman Arab Summit.
The bloc, a group of puppets in the hands of Egypt, said the invitation of Fayaz Sirraj is interference in the internal affairs of the country, calling the Arab League and its Secretary General to respect Libyas sovereignty and legitimacy.
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East Libya government angry with Arab Summit - The Libya Observer
Its been a rollercoaster ride for Libyas oil sector the last few months. With production from this important OPEC player swinging wildly with unstable politics in the country.
And news this week suggests things just got worse for Libyas oil industry in a major way.
Unnamed sources in the country told Bloomberg Wednesday that Libyas largest oil field, Sharara, has been suddenly shut in. With the pipeline carrying crude from this massive operation having been completely idled.
As a result, sources said Libyas overall oil production has now fallen to 560,000 barrels per day. Coming just days after Libyas National Oil Corp. had publicly pegged the countrys production at 700,000 b/d.
That suggests the stoppage at Sharara has lowered production by 140,000 b/d representing a 20% decline. With the shortfall happening virtually overnight, and with no apparent warning to oil traders.
Heres the most important point: sources in Libya didnt give any reason for the outage. Making it difficult to tell if the drop in production will be a prolonged event.
The most likely candidate is political instability. With numerous oil facilities across Libya having seen shutdowns in recent months due to fighting between the countrys national army and various rebel factions. Related:OPEC Compliance Nears 100% On Libyan, Nigerian Outages
In fact, the countrys Es Sider oil export terminal had just reopened for shipments this week after a three-week stoppage, during which the rebel Benghazi Defense Brigades briefly took control of the facility.
Sources commenting on this latest outage did note that crude exports have now been halted at two other Libya oil terminals: Zawiya and Mellitah. Although it wasnt clear if the problem is at these facilities themselves, or due to problems with the pipelines feeding the terminals.
Whatever the case, this disruption is an important event for crude prices. With Brent jumping $1.12 per barrel on the news, putting it solidly above $50. Watch for more news from Libya on whether production from Sharara can be restored soon if not, we could see more upward momentum for oil.
Heres to on-again, off-again.
By Dave Forest
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Mysterious Outage In Libya Could Drive Oil Prices Higher - OilPrice.com
An oil refinery in Zawia in Libya. Photograph: Ismail Zetouni/Reuters
A power struggle for control of Libyas oil is threatening to deepen splits in the country and undermine the fragile authority of the UN-backed Libyan Government of National Accord, the GNA.
The battle has forced the politically neutral chairman of the Libyan National Oil Corporation (NOC) to warn the GNA that it has overstepped its authority both by closing the oil ministry and by trying to take over some of the NOCs role.
The attack by Libyan oil boss Mustafa Sanallas may weaken already fraying international support for the Tripoli-based GNA led by Fayed Al Serraj. In a deeply divided country, Sanalla is one of the few public figures treated with respect by all sides.
Ambassadors from the five countries with permanent seats on the UN security council issued a rare joint statement on Saturday siding with Sanalla and warning all sides to show retraint, stressing that the petroleum infrastructure, production and export revenues belong to all the Libyan people and must remain under the stewardship of the NOC. The ambassadors regard the retention of an apolitical functioning national body responsible for administering Libyas vast oil revenues as critical to preventing the breakup of the country.
The statement was unusual since it did not assert that the GNA was the sole legitimate government in Libya. The GNA has had the support of western powers for more than a year, but its power base has never extended widely, even within Tripoli.
In a statement, Sanalla said he had asked the GNA to withdraw its recent resolution. It has exceeded its authority. Only the legislature has the power to make these changes.
Sanalla insisted that the NOC had long supported the establishment of a genuine government of national accord able to speak for all Libyans. But he continued: Until we have a settlement, our duty is to administer the countrys oil resources in trust for the benefit of the nation.
Sanalla had been acting as de facto oil minister; Serrajs closure of the department appears to bring part of the NOC under political control a move that risks opening the door further to corruption and revenues being siphoned off for private or political use.
Under the GNAs order, the prime ministers office will assume the role of a traditional oil sector regulator, signing contracts, supervising investments, approving projects, developing new legislation and setting price policy. The NOC would be left to execute the prime ministers plans.
The GNA statement claims that the NOC in future will monitor the production and exportation processes, and name Libyas representatives to attend meetings and conferences after consulting the prime minister. It will also suggest giving or taking away investment licences, and specifying the daily oil and gas production.
Sanalla has for months urged Serraj to hand over extra cash to repair and restore the countrys damaged oil infrastructure.
Production has been increased from 700,000 barrels per day from 200,000 bpd, but is now slipping due to the renewed unrest, and in particular the closure of the pipeline from Sharara, Libyas biggest field, based in western Libya. Pipelines are regularly shut as militias bargain for advantage. Sharara, which is run by Spains Repsol SA, had been producing 221,000 barrels per day. It only came back on stream in December after the pipeline had been shut for two years.
Sanalla had persuaded the group blocking the pipeline to desist in return for economic aid to the region, but there is a dispute over whether he has been able to fulfil what is essentially a political pledge.
Before the 2011 war, Libya produced 1.6m barrels per day and accumulated more than $100bn in reserves.
Innumerable efforts at political mediation by regional powers have failed as Libya struggles to make the political compromises necessary to form a unity government.
The NOC is one of the few functioning national institutions that has worked across a complex political divide including Serraj and the forces of Field-Marshal General Haftar, the leader of the self-styled Libyan National Army in the east. Western governments have been forced to acknowledge that Haftar, backed by Egypt and Russia, must be given a prominent position in a reconstituted government of national unity, but believe Haftar is intent on becoming a military dictator, rather than a military commander under a clear civilian command.
The foreign secretary, Boris Johnson, told MPs this week that Haftar must have a role, but not the only role.
But Mattia Toaldo from the European Council on Foreign Relations said Russias increasing political backing and the anti-Islamist winds blowing in Washington have strengthened Haftars belief there is no point negotiating a political solution with the forces in western Libya.
Toaldo has said that the diplomatic vacuum has been made worse by the effective end of the role of Martin Kobler, the UN Libyan special envoy. No new envoy has been appointed.
Sanalla has been slowly increasing Libyan oil production, and persuading foreign oil companies from Russia, Italy and the UK to have the confidence that Libya is a country in which it will be safe to invest.
But his case was badly damaged last month when the Benghazi Defence Brigades, with the covert support of figures in the Serraj government, sought to take control of of the major oil ports of Sidra and Ras Lanuf. The ports had been for months been under the control of Haftar, but he had ordered that the revenues from the terminals go to the Tripoli government.
The assault by the Benghazi Defence Brigades led to a revival of an Eastern NOC to rival the NOC and Sanalla, so potentially ending the NOC as the monopoly administrator of Libyan oil. A breakup in the distribution of revenues would probably hasten the disintegration of Libya itself.
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Struggle for control of Libya's oil threatens to deepen conflicts - The Guardian