Council Members

News & Comment

The following news headlines are selected breaking news stories about Libya and the Libyan business arena, which are collected daily from a variety of sources.

If you click on "Read More" for a headline marked "External Article" you will be taken to the source of that story. For all other articles, which can be read on the LBBC website, we welcome your comments and opinions.

Macron attempts to broker Libyan peace with meeting of leaders [The Guardian]

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25th Jul 17: French president convenes talks between heads of rival factions in attempt to increase conflict-ravaged country’s political stability.

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Libyan premier, rival eastern commander to meet in Paris - source [Reuters]

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23rd Jul 17: The head of Libya's U.N.-backed government will hold talks in Paris this week with a powerful military commander who has so far rejected his authority, a diplomatic source said.

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After long Benghazi campaign, Libyan commander eyes capital [Reuters]

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19th Jul 17: Buoyed by the end of a long military campaign in Benghazi and new signs of foreign support, Libyan commander Khalifa Haftar has been signalling his intent to extend his power to the capital, Tripoli.

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NOC’s Sanalla heading to Russia for oil output talks [Libya Herald]

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18th Jul 17: National Oil Corporation (NOC) chief Mustafa Sanalla will beRussia’s St Petersburg on Monday to tell OPEC and non-OPEC oil producers why Libya simply cannot afford to cut back on its rising oil output, even though global oil prices remain weak because of excess production.

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LIA gets new Board of Trustees, new board, confirms chairman and reform plan [Libya Herald]

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18th Jul 17: The Faiez Serraj led Presidency Council/Government of National Accord (PC/GNA) has appointed a new Board of Trustees for the Libyan Investment Authority (LIA) which, in turn, has announced a new LIA Board of Directors and a 6 to 12-month reform programme. At its Tripoli headquarters last Saturday, the new board confirmed the chairman of the previous Steering Committee, Ali Hassan. Hassan, as the new chairman of the LIA.

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Oil Lingers Near $46 as U.S. and Libya Seen Boosting Production [Bloomberg]

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18th Jul 17: Oil traded near $46 a barrel after snapping a five-day gain on concern output in the U.S. and OPEC member Libya is growing just as demand shows signs of improvement.

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Migrant crisis: EU to curb rubber boat sales to Libya [BBC]

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17th Jul 17: EU foreign ministers have agreed to restrict exports of inflatable boats and outboard motors to Libya in a drive to curb the smuggling of migrants.

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Libya’s Sarraj calls for elections to save the country [Middle East Monitor]

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17th Jul 17: Presidency Council head Fayez Al-Sarraj has called for elections next year as part of radical changes to the country’s political system.

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US military considers ramping up Libya presence [CNN]

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11th Jul 17: A new diplomatic and military policy for Libya that could significantly expand US involvement in the country could be finalized by the Trump administration in the next few weeks, according to two US officials.

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Oil Trades Near Two-Week Low Amid Talk of Libya, Nigeria Caps [Bloomberg]

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10th Jul 17: Oil traded near the lowest closing price in two weeks, erasing earlier gains after an OPEC minister said Libya and Nigeria may be requested to cap their production.

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Libya strongman in UAE for military talks as Benghazi fighting flares [Middle East Eye]

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10th Jul 17: The UN has accused the UAE of supplying military aircraft to Khalifa Haftar in violation of a UN arms embargo.

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Haftar declares victory in battle for Benghazi [Reuters]

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6th Jul 17:

Libya's eastern commander Khalifa Haftar said on Wednesday his forces had taken full control of Libya's second city Benghazi from rival armed groups after a three-year campaign.

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EU Offers Plan, Cash to Stem Libya Migrant Flow to Italy [Reuters]

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4th Jul 17: The EU executive offered Italy more funding on Tuesday to help control migration across the Mediterranean from Libya among a set of proposals responding to complaints from Rome that Europe was failing to help it out.

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Libya's oil output nears 1 million bpd, highest in four years: source [Reuters]

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29th Jun 17: Libyan oil production is fluctuating between 950,000 barrels per day (bpd) and "close to" 1 million bpd, rising from around 935,000 bpd earlier this week, a Libyan oil source with direct knowledge of the matter told Reuters on Thursday.

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UN approves Lebanese former minister Ghassan Salame as Libya envoy [The New Arab]

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21st Jun 17: UN approves Lebanese former minister Ghassan Salame as Libya envoy

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U.N. chief set to name new Libya envoy after rare contentious search [Reuters]

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18th Jun 17: United Nations Secretary-General Antonio Guterres was set to name a former Lebanese culture minister as new U.N. envoy to Libya, ending an unusually contentious four-month search that followed U.S. rejection of his first suggestion.

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Libya's NOC, Wintershall strike interim deal to resume production [Reuters]

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13th Jun 17: Libya's National Oil Corporation (NOC) and German oil and gas company Wintershall have agreed an interim arrangement to resume production in Libya, the NOC said on Tuesday, a step forward in a dispute that was shutting in up to 160,000 barrels per day (bpd) of output.

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UN Panel of Experts on Libya issues its final report

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13th Jun 17:

Letter dated 1 June 2017 from the Panel of Experts on Libya established pursuant to resolution 1973 (2011) addressed to the President of the Security Council

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New radio navigation systems for Libyan airports [Libya Herald]

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12th Jun 17: Libya Telecom (LT) says it is supplying and installing combined radio navigation systems known as VOR/DME, initially to Mitiga, Benina, Tobruk and Labraq airports.

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Libya’s growing shadow economy threatens more destabilisation says report [Libya Herald]

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10th Jun 17: A dangerous black market is growing across Libya that disproportionately affects an already vulnerable population and threatens to further destabilize the fragile economy. 

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Desire for secure and peaceful future remains strong in Libya, Security Council told [UN News Centre]

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8th Jun 17: Noting positive changes in the situation on the ground in Libya as a result of the Libyan Political Agreement, the United Nations envoy for the country highlighted that despite challenges, the desire for peace, security and a better future remain strong among the people and urged sustained international support for national efforts.

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Does the road to stability in Libya pass through Cairo? [Ecfr.eu]

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5th Jun 17: Ultimately, the road to stability in Libya does pass through Cairo, but most importantly through Tripoli and Misrata.

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Oil Bears Can't Count on Libya as Expat Exodus Hinders Recovery [Bloomberg]

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5th Jun 17: The rapid increase in Libya’s oil production is heading toward a hard ceiling.

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Too early to reduce oil production caps on Nigeria, Libya – OPEC [Premium Times]

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2nd Jun 17: The Organisation of Petroleum Exporting Countries, OPEC, on Thursday said it is too early to determine when production caps should be imposed on Nigeria and Libya.

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LIA reports low revenues of US$ 331 in 2016 [Libya Herald]

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31st May 17: The Libyan Investment Authority (LIA) has reported that it had made returns of US $ 331 million in 2016. The claim came from the Media Department representing Ali Mahmoud, the Head of the Steering Committee of the LIA appointed in August 2016 by Faiez Serraj, head of the internationally-recognized Presidency Council and Government of National Accord.

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Oil falls as rising Libyan, U.S. output undermines cuts [Reuters]

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31st May 17:

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $49.15 per barrel, down 51 cents, or 1 percent, from their last settlement.  Traders said the price declines were a result of higher output in conflict-torn Libya, which was adding to a relentless rise in U.S. production.

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Moscow's Presence in Libya is a New Challenge for the West [Chatham House]

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30th May 17: Russian involvement in Libya is designed to establish a new zone for leverage – putting pressure on the West and on regional powers. 

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