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.



Syria’s New Authorities: Syrian People Stand at Equal Distance from All Countries

This handout image made available by the Telegram channel of the official Syrian Arab News Agency (SANA) early on December 17, 2024 shows Ahmed al-Sharaa, receiving the director of the Middle East and North Africa department at Britain's Foreign, Commonwealth, and Development Office in Damascus. (Photo by SANA / AFP)
This handout image made available by the Telegram channel of the official Syrian Arab News Agency (SANA) early on December 17, 2024 shows Ahmed al-Sharaa, receiving the director of the Middle East and North Africa department at Britain's Foreign, Commonwealth, and Development Office in Damascus. (Photo by SANA / AFP)
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Syria’s New Authorities: Syrian People Stand at Equal Distance from All Countries

This handout image made available by the Telegram channel of the official Syrian Arab News Agency (SANA) early on December 17, 2024 shows Ahmed al-Sharaa, receiving the director of the Middle East and North Africa department at Britain's Foreign, Commonwealth, and Development Office in Damascus. (Photo by SANA / AFP)
This handout image made available by the Telegram channel of the official Syrian Arab News Agency (SANA) early on December 17, 2024 shows Ahmed al-Sharaa, receiving the director of the Middle East and North Africa department at Britain's Foreign, Commonwealth, and Development Office in Damascus. (Photo by SANA / AFP)

Syria wants to contribute to "regional peace,” the country's new authorities said in a statement after a meeting between leader Ahmed al-Sharaa and a US diplomatic delegation.

"The Syrian side indicated that the Syrian people stand at an equal distance from all countries and parties in the region and that Syria rejects any polarization," the statement said.

In their first in-person meeting with the leaders of Hayat Tahrir al-Sham since it overthrew Syria's long-time President Bashar al-Assad two weeks ago, al-Sharaa "came across as pragmatic,” Barbara Leaf, top Middle East diplomat at the State Department, told reporters.

"It was a good first meeting. We will judge by the deeds, not just by words," Leaf, who was the head of the US delegation, said in a briefing and added that the US officials reiterated that Syria's new government should be inclusive. It should also ensure that terrorist groups cannot pose a threat, she said.