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.



UN Chief Calls for Immediate Ceasefire in Lebanon

Smoke billows after an Israeli Air Force air strike on a village in southern Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel October 1, 2024. (Reuters)
Smoke billows after an Israeli Air Force air strike on a village in southern Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel October 1, 2024. (Reuters)
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UN Chief Calls for Immediate Ceasefire in Lebanon

Smoke billows after an Israeli Air Force air strike on a village in southern Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel October 1, 2024. (Reuters)
Smoke billows after an Israeli Air Force air strike on a village in southern Lebanon, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel October 1, 2024. (Reuters)

United Nations Secretary-General Antonio Guterres appealed on Tuesday for an immediate ceasefire in Lebanon and for the sovereignty and territorial integrity of the country to be respected, UN spokesperson Stephane Dujarric said.

"An all-out war must be avoided in Lebanon at all costs," Dujarric said in a statement, adding that Guterres spoke with Lebanon's caretaker Prime Minister Najib Mikati earlier on Tuesday, telling him the UN was ready to help those in need.

"The Secretary-General will continue his contacts, and his representatives on the ground will also continue their efforts to de-escalate the situation," Dujarric said.

The United Nations Special Coordinator for Lebanon, Jeanine Hennis-Plasschaert, said on Tuesday that violence is spiraling to dangerous heights with strikes throughout Lebanon and incursions across the Blue Line.

"This cycle of violence will not end well for anyone," Hennis-Plasschaert added.

Israel said its troops had launched raids inside Lebanon on Tuesday, starting its widely expected ground operations after two weeks of devastating airstrikes against Hezbollah's command structure and weapons sites.

The Israeli military said the operations in Lebanon began on Monday night and involved paratroops and commandos from the elite 98th division, which was deployed to the northern front two weeks ago from Gaza where they had been fighting for months.

It said its air force and artillery supported ground troops engaged in "limited, localized, and targeted ground raids" against Hezbollah in southern Lebanon villages that posed "an immediate threat to Israeli communities in northern Israel".