Libya Preparing to Restart Oil Output as Central Bank Crisis Eases

A view of the Central Bank of Libya in Tripoli, Libya, August 26, 2024. (Reuters)
A view of the Central Bank of Libya in Tripoli, Libya, August 26, 2024. (Reuters)
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Libya Preparing to Restart Oil Output as Central Bank Crisis Eases

A view of the Central Bank of Libya in Tripoli, Libya, August 26, 2024. (Reuters)
A view of the Central Bank of Libya in Tripoli, Libya, August 26, 2024. (Reuters)

Libya was preparing to restart oil production that has been shut since late of August after an agreement on a new head of the central bank was reached, two oilfield engineers told Reuters on Tuesday.

"We are now waiting for orders from the Corporation (the state oil firm) to resume production at its normal levels after a month-long stoppage," said an engineer from the Jalu 59 oilfield.

An engineer from the El-Feel oilfield said they took advantage of the almost one-month closure to carry out maintenance.

National production and export operations were stopped in August when the parallel government in eastern Libya declared the closure of oil facilities in a protest of the ousting of veteran Central Bank of Libya (CBL) governor Sadiq Kabir by the Presidential Council in Tripoli.

A new CBL governor, Naji Mohamed Issa Belgasem, and his deputy, Mari Muftah Rahil Barrasi were approved on Monday by the two legislative bodies; the east-based House of Representatives in Benghazi and High State Council in Tripoli.

Belgasem and Barrasi took an oath before parliament on Tuesday during a televised session.

Libya's National Oil Corporation said on Aug. 28 that oil production had dropped by more than half of typical levels. It has not made public any new production figures since then.

Libya's oil output has been disrupted repeatedly in the chaotic decade since the country divided in 2014 between two administrations in its east and west following the NATO-backed uprising that toppled Moammar al-Gaddafi in 2011.



Türkiye Says Israel’s Ground Offensive into Lebanon Is Illegal, Kremlin Voices Concern

An Israeli attack helicopter fires towards Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel, October 1, 2024. (Reuters)
An Israeli attack helicopter fires towards Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel, October 1, 2024. (Reuters)
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Türkiye Says Israel’s Ground Offensive into Lebanon Is Illegal, Kremlin Voices Concern

An Israeli attack helicopter fires towards Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel, October 1, 2024. (Reuters)
An Israeli attack helicopter fires towards Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel, October 1, 2024. (Reuters)

Türkiye’s foreign ministry said on Tuesday that Israel's ground offensive into Lebanon was an illegal attempt at occupation that violated Lebanese territorial integrity, and added the operation must immediately end with Israel withdrawing from Lebanon.

Israeli paratroopers, commandos and armored units launched raids at the start of a ground incursion into south Lebanon, as intense fighting erupted with Hezbollah fighters on Tuesday.

In a statement, the foreign ministry said Israel's offensive targeted regional countries' security and stability as well, and added it was "highly likely" that a new migrant wave will emerge from the fighting.

It called on the UN Security Council to "do what is necessary" in line with international law.

The Kremlin said on Tuesday it was deeply concerned about Israel's military activity in Lebanon and a reported strike on the Syrian capital, Damascus.

Syrian state media said on Tuesday morning that three civilians had been killed and nine others injured in an Israeli airstrike on Damascus.

"We are witnessing together that the geography of hostilities is expanding, which is further destabilizing the region and increasing tensions. These tensions are destructive to the region and the surrounding areas. We remain deeply concerned," Peskov said.

He added that Moscow was in constant contact with Damascus.

"We see no immediate risks at the moment, but of course we condemn such strikes against a sovereign state," said Peskov.

Poland will limit the number of staff at its embassy in Beirut, a foreign ministry spokesperson said on Tuesday, adding that Warsaw would organize transport for Polish citizens who want to leave Lebanon.

"The decision was made to limit the staff at our embassy in Beirut," spokesperson Pawel Wronski told reporters. "Mainly these are the families of diplomats. We will try to keep the essential people, and those who are not essential will return to the country (Poland)"