Oil | Tags | Econostrum | Economic News in the Mediterranean

Lebanon will be able to extract its own natural gas

09/20/2022 | Industry

LEBANON / ISRAEL. Negotiations on maritime boundaries between Lebanon and Israel are expected to end soon with an agreement allowing Beirut to extract natural gas from an offshore field.

Sonatrach, Occidental Petroleum, Eni and TotalEnergy to drill 100 oil wells together in Berkine

07/20/2022 | Industry

ALGERIA / ITALY / FRANCE. The Algerian Sonatrach signs a "production sharing" contract with the American Occidental Petroleum, the Italian Eni and the French TotalEnergies.

Libyan oil port of Zouetina resumes operations

05/05/2022 | Industry

LIBYA. The Libyan National Oil Company says the oil port of Zouetina has temporarily resumed operations "in order to avoid environmental disasters that may occur".

Abdel Hamid Dbeibeh, Fathi Bashagha, hydrocarbons, Khalifa Haftar, Libyan National Army, Libyan National Oil Company, Libyan Political Dialogue Forum, LNA, Mohammed Aoun, NOC, oil, Tobruk, Zouetina, Zouetina Oil Company

Libya's political crisis spills over into oil production

04/21/2022 | Industry

LIBYA. The political dispute between Libya's two rival prime ministers is now impinging on the country's economy itself because of the blockage of the oil infrastructure, which accounts for 97% of state revenue.

Libya's House of Representatives on track to validate rival government

03/01/2022 | Society / Institutions

LIBYA. Libya already had two Prime Ministers. It should have, from Monday 28 February 2022, two governments. Since the appointment by the House of Representatives (HoR) of Fathi Bachagha (former Minister of Interior of the Government of National Accord - GNA) on 10 February 2022 to this post...

Abdel Hamid Dbeibah, Aguila Saleh, Fathi Bachagha, gas, GNA, GNU, HoR, hydrocarbons, Khalifa Haftar, Libya, Libyan Dialogue Forum, Libyan politics, Mohamed Aoun, Mustafa Sanalla, NOC, oil, Tobruk, Tripoli

Italy's Saipem fined €192m for corruption in Algeria

02/16/2022 | Industry

ITALY / ALGERIA. An Algerian court's ruling on corruption in the oil sector has put Saipem in serious financial difficulties.

Libya's crude oil production is trying to get back on track

01/11/2022 | Industry

LIBYA. According to the Libyan Oil Ministry, crude oil production in the country has risen from 700,000 to 900,000 barrels per day, thanks to the end of maintenance work on a pipeline.

Oil revenues made up 97% of Libyan state revenues in 2021

01/06/2022 | Society / Institutions

LIBYA. In the midst of the country's political instability, the Central Bank of Libya publishes its results for the year 2021 with $22.9bn in foreign revenues and $24.5bn in expenditures for the government.

CBL, Central Bank of Libya, economy, Libya, Libya expenditure, Libya revenue, oil

Algeria increases its hydrocarbon export revenues by 70%

01/04/2022 | Industry

ALGERIA. The CEO of Sonatrach announces an increase in gas and oil exports of 19% in volume and 70% in turnover in 2021 with a result of 34.5 billion dollars.

Libyan economy faces the challenges of water stress and hydrocarbon management

09/02/2021 | Society / Institutions

LIBYA. Incessant vandalism of water networks and oil installations, suspension of the president of the national oil company, water shortages, need to diversify revenues, the Libyan economy is struggling to return to normal after ten years of civil war.

Abdul-Hamid Dbeibah, ACWUA, Al-Khums, Bahr Essalam, Bani Walid, Bertrand Bainvel, Claudio Descalzi, Cristina Brugiolo, CSP, Egypt, electricity, ENI, Fayez al-Sarraj, Fezzan, gas, General company for water and wastewater, GNA, Great artificial river, Hasawna, hydrocarbons, Italy, Jadalla Oakely, Ján Kubiš, Kaïs Saïed, Khalifa Haftar, Libya, Libyan Political Dialogue Forum, Lldif, LPDF, Manul, Marsa Al Hariga, Mellitah Oil and Gas, Mena, Misrata, MMRA, Mohamed Al Hweij, Mohamed Al Mnefi, Mohamed Aoun, Mustafa Sanallah, National Oil Corporation, NOC, Nubia Basin, oil, Ras Lanouf, REAol, Sabratha, Sadiq al-Kabir, Sarir, Sirte, SWH, Tobruk, Tripoli, Tunisia, Ubari, UN, UN Security Council, UNDP, Unicef, United Nations Support Mission in Libya, USAID, water, water stress, Zawiyah, Zliten

Libya to study the establishment of several oil refineries

04/27/2021 | Industry

LIBYA. While the production of hydrocarbons is slowed down due to the lack of budgets for the companies in the sector, Libya intends to create several oil refineries in order to limit the recourse to the import of finished products.

Libya's economic outlook: Oil fuel for future investments

04/15/2021 | Society / Institutions

LIBYA. Its foreign exchange reserves and oil windfall have returned to pre-revolution levels, allowing Libya to invest in its future. The 2021 budget currently under discussion reveals the priorities of the new government.

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Libya's economic outlook: A huge cake to share

04/15/2021 | Society / Institutions

LIBYA. The tempo is accelerating for many countries wishing to participate in the economic battle currently being waged around reconstruction and oil. The diplomatic ballet continues to grow in Tripoli. But the dancers are not all on the same footing.

Alain Chouet, Ankara. Abdel Hamid Dbeibah, Bernard Valero, Cameron, Charles Michel, China, Crete, DGSE, Egypt, EU-Turkey Migration Agreement, European Investment Bank, European Union (EU), Fayez al-Sarraj, France, Germany, GNA, Greece, Henry Marty-Gauquié, Italy, Jean-François Coustillière Gaddafi, JFC Analysis Group, Khalif Haftar, Kyriakos Mitsotakis, Libya, Libyan dinar, libyan economy, Mario Draghi, Misrata, oil, Qatar, Recep Tayyip Erdogan, Robert Abela, Russia, Saif Al-Islam Gaddafi, Sarkozy, Sfax, Spain, Tripoli, Tunis, Tunisia, Turkey, United Arab Emirates, United Nations

Turkey increases its trade deficit by 69% in 2020

02/02/2021 | Society / Institutions

TURKEY. According to the Turkish Institute of Statistics, Turkish exports fell by 6.3% in 2020 compared to the previous year, with a total of $169.48 billion.

China, Fatih Dönmez, Germany, Iraq, Italy, oil, Ruhsar Pekcan, Russia, trade, TUIK, Turkey, Turkish Institute of Statistics, United Kingdom, United States

UN Security Council urged to rush into "fragile window of opportunity" in Libya

09/03/2020 | Society / Institutions

LIBYA. Acting head of the United Nations Support Mission in Libya, Stephanie Williams believes that the time has come for a political settlement of the conflict.

ANL, Berlin Conference, conflicts, Covid-19, Egypt, GNA, Khalifa Haftar, Libya, Libyan conflict, Manul, oil, Stephanie Williams, Turkey, United Arab Emirates, United Nations

Medgaz completes its first year of operation

10/30/2012 | Euro-Mediterranean projects

Since April 2011, the underwater pipeline, half of which is funded by a €500-million loan from the European Investment Bank, has been supplying the Spanish market with Algerian gas. SPAIN / ALGERIA. If Medgaz is technically able to operate at 100% capacity, as welcomed by its Board of Directors at...

Algeria doing well without overcoming its structural constraints

10/15/2012 | Socio-economic assessments

ALGERIA. With rising oil prices, Algeria is now enjoying a degree of prosperity. However, it still faces major challenges, such as industrialisation, unemployment and dependence on hydrocarbons

Algeria, Brahim Gacem, economic and financial crisis, FCAS, forcast, LFC, oil, oil prices, stabilisation fund, unemployment, youth

The roots of green growth in the mediterranean region

10/03/2012 | Reflections

Promoting green growth in the Mediterranean region in support of sustainable development and poverty reduction, is a major challenge nowadays. Facing this challenge is not only necessary, but also efficient and achievable. Economic efficiency and job creation are at the heart of green growth The...

Regulations on the environmental impact of ships set new course

09/29/2012 | Environment

Environmental regulations on passenger shipping are complex and undergo regular changes. They are now aiming to reduce the sea and air pollution caused by ships.