Business News Libya

  • TRIPOLI, Sept 19-- Libya's internationally recognised government on Wednesday imposed a fee of 183 percent of the value of the official exchange rate on any transactions involving hard currency, it said in a statement. The gap has done much to distort Libya's oil-dependent economy, contributing to a liquidity crisis and causing corruption as armed groups with...

  • Welders work on the Strategic Petroleum Reserve pipeline on June 1, 1980, in West Hackberry, Louisianna. Begun under President Ford to reduce the threat of oil embargoes, the SPR crude oil is stored in huge underground salt caverns along the Gulf of Mexico, a natural choice due to the proximity of many refineries and distribution points.

    Global oil supply was firing on all cylinders in August, reaching a record 100 million barrels per day (bpd), the International Energy Agency revealed in its monthly Oil Market Report Thursday.

  • A file photo of migrants leaving a boat off the coast of Tajoura, east of Tripoli, Libya June 20, 2018. 

    More than 100 migrants died in early September when their crowded rubber boats were wrecked off the coast of Libya, the MSF aid agency on Monday quoted survivors as saying.

  • BENGHAZI, Libya— Security forces loyal to Libya's U.N.-backed government on Monday stormed the headquarters of the country's national oil company in the capital Tripoli shortly after gunmen invaded the building, shooting randomly, setting off explosions and taking hostages, officials said. The Health Ministry said two people were killed and 10 others...

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • Expect a 'loosening' of the oil market ahead: Researcher

    Sushant Gupta of Wood Mackenzie also discusses the impact of the U.S.-China trade war on American crude oil.

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • Italian prime minister: Trump and I will organize a conference on Libya

    President Trump and Italian Prime Minister Giuseppe Conte have a joint press conference after their meeting at the White House on Monday.

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • Oil prices have been 'straight down' since a few weeks ago: Analyst

    Andy Lipow of Lipow Oil Associates says the return of Libyan oil production in the market is "still a touch and go."

  • TUNIS, July 16- After a relatively stable spell, Libya's oil production has see-sawed again because of a standoff at eastern export terminals and the abduction of two workers at the giant Sharara oilfield. But the risk of further output shocks will linger while Libya remains politically and militarily divided. Libya has the largest proven reserves of oil in...

  • TUNIS, July 16- After a relatively stable spell, Libya's oil production has see-sawed again because of a standoff at eastern export terminals and the abduction of two workers at the giant Sharara oilfield. But the risk of further output shocks will linger while Libya remains politically and militarily divided. Libya has the largest proven reserves of oil in...

  • TUNIS, July 16- After a relatively stable spell, Libya's oil production has see-sawed again because of a standoff at eastern export terminals and the abduction of two workers at the giant Sharara oilfield. But the risk of further output shocks will linger while Libya remains politically and militarily divided. Libya has the largest proven reserves of oil in...

  • TUNIS, July 16- After a relatively stable spell, Libya's oil production has see-sawed again because of a standoff at eastern export terminals and the abduction of two workers at the giant Sharara oilfield. But the risk of further output shocks will linger while Libya remains politically and militarily divided. Libya has the largest proven reserves of oil in...

  • BENGHAZI, Libya/ TUNIS, July 11- Tripoli- based National Oil Corp said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of Libya's oil output. Eastern factions had effectively blockaded exports from the territory they control since late June, saying too much oil revenue...

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • BENGHAZI, Libya/ TUNIS, July 11- Tripoli- based National Oil Corp said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of Libya's oil output. Eastern factions had effectively blockaded exports from the territory they control since late June, saying too much oil revenue...

  • BENGHAZI, Libya/ TUNIS, July 11- Libya's Tripoli- based National Oil Corp said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of the country's oil output. Eastern factions had effectively blockaded exports from the territory they control since last month, saying...