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.



European Airlines Extend Suspension of Middle East Flights

Lufthansa planes stand parked as Frankfurt airport is closed to passengers with planned departures due to a strike organized by Verdi union, in Frankfurt, Germany, March 7, 2024. (Reuters)
Lufthansa planes stand parked as Frankfurt airport is closed to passengers with planned departures due to a strike organized by Verdi union, in Frankfurt, Germany, March 7, 2024. (Reuters)
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European Airlines Extend Suspension of Middle East Flights

Lufthansa planes stand parked as Frankfurt airport is closed to passengers with planned departures due to a strike organized by Verdi union, in Frankfurt, Germany, March 7, 2024. (Reuters)
Lufthansa planes stand parked as Frankfurt airport is closed to passengers with planned departures due to a strike organized by Verdi union, in Frankfurt, Germany, March 7, 2024. (Reuters)

Top European airlines Lufthansa, KLM and Swiss announced Tuesday they were extending their suspension of flights to the Middle East, as tensions spiral throughout the region.

The moves come as Israel launches strikes on Beirut and a senior White House official warned Iran was preparing to launch a ballistic missile attack "imminently" against Israel.

KLM has pushed out until the end of the year the suspension of its once-daily flight to Tel Aviv "given the situation in the region," spokeswoman Elvira van der Vis told AFP.

The Dutch airline had already announced in August that it was suspending flights to Israel until October 26.

Earlier Tuesday, German airline group Lufthansa said it was suspending flights to Beirut up to and including November 30.

Lufthansa group flights to Tel Aviv will be cancelled until October 31 while trips to Tehran remain cancelled until October 14.

"We regret the inconvenience caused to our passengers," the group said.

The Lufthansa group -- whose carriers also include Swiss International Air Lines, Austrian Airlines and Brussels Airlines -- has repeatedly modified its flight schedule in recent months due to heightened tensions in the Middle East, as have other airlines.

Following the example of its parent company, Swiss said the extension of its flight suspensions was "intended to provide more predictability for both our passengers and our crews".

The Israeli army said it launched a ground offensive in Lebanon and that its forces engaged in clashes Tuesday, further escalating the conflict after a week of intense air strikes that killed hundreds.

Meanwhile, a senior White House official told AFP on condition of anonymity that the United States has indications Iran was preparing to launch a missile attack against Israel "imminently."

"We are actively supporting defensive preparations to defend Israel against this attack," the official said, warning that such an action "will carry severe consequences for Iran."