E-PaperLibya News
Libya’s reviving oil output passes million-barrel milestone
The OPEC member, which owns Africa’s largest crude reserves, has been ramping up production since a truce took hold last month between rival military forces
1 min read8 Nov 2020Oil prices fall 3% as US, Libyan, Norwegian supplies resume
Brent crude fell $1.21, or 2.8%, to $41.64 a barrel by 11:52 a.m. EDT (1552 GMT) and U.S. West Texas Intermediate was down $1.23, or 3%, at $39.37
1 min read12 Oct 2020UN condemns clashes in Libya capital, urges security reforms
The clashes broke out late Thursday between two militias loyal to the Tripoli-based and UN-recognised Government of National AccordLibya has endured almost a decade of violent chaos since a NATO-backed uprising toppled and killed longtime dictator Moamer Kadhafi in 2011
1 min read26 Sep 2020Egypt’s Sisi warns of intervention in Libyan city of Sirte
Egypt's president warned on Saturday that advances by Turkey-backed forces in Libya could prompt an Egyptian military intervention in the neighbouring country
2 min read20 Jun 2020Oil jumps after unrest hits key OPEC producers Libya and Iraq
Oil jumped as rising tension in the Middle East and North Africa halted output and exports from key OPEC producers Iraq and LibyaIraq temporarily stopped output at an oil field on Sunday and supply from a second site is at risk
1 min read20 Jan 2020Oil gains as West Asian tensions flare, Libya field shut
Prices gain after Iran seizes British tanker; supply outages and cuts also supportiveSluggish oil demand outlook weighs
2 min read22 Jul 2019Oil drops towards $65 as Libya's biggest field restarts
Brent crude, the international benchmark, fell 62 cents to $65.05 a barrelSome wells at Libya's El Sharara oilfield have restarted and the aim is to reach initial output of 80,000 barrels per day
1 min read5 Mar 2019Oil prices fall as Saudis offer more supply, US weighs SPR release
Oil prices retreat below $71 a barrel as Saudi Arabia was said to offer extra crude to some customers, while the US reportedly considered tapping emergency supplies
3 min read16 Jul 2018Oil prices rise on Libya force majeure, but demand slowdown holds back market
Brent crude oil futures were at $77.71 per barrel at 7.47am, up 41 cents, or 0.5%, from their last close
2 min read3 Jul 2018Oil prices rise on supply losses, US push to isolate Iran
Oil prices advance on supply disruption in Canada, falling US crude stocks, uncertainty over Libyan exports and US demands that importers stop buying Iranian crude from November
2 min read27 Jun 2018Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared