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UAE, Kenya Seal Comprehensive Economic Partnership Deal

A UAE flag flies over a boat at Dubai Marina, Dubai, United Arab Emirates May 22, 2015. (Reuters)
A UAE flag flies over a boat at Dubai Marina, Dubai, United Arab Emirates May 22, 2015. (Reuters)
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UAE, Kenya Seal Comprehensive Economic Partnership Deal

A UAE flag flies over a boat at Dubai Marina, Dubai, United Arab Emirates May 22, 2015. (Reuters)
A UAE flag flies over a boat at Dubai Marina, Dubai, United Arab Emirates May 22, 2015. (Reuters)

The United Arab Emirates and Kenya have concluded a comprehensive economic partnership agreement (CEPA), UAE Minister of Foreign Trade Thani Al Zeyoudi said on Friday.

"We will now look to expand across sectors from food production and mining to technology and logistics," he said of the agreement.

UAE state news agency WAM quoted Kenya's trade minister Rebecca Miano as saying the deal would play an important role in enabling Kenyan exports to reach important markets in Asia and the Middle East and "in stimulating investment inflows that will further develop our national capabilities".

The CEPA will have significant positive impact on accelerating investment flows in high potential areas such as logistics, healthcare, travel and tourism, infrastructure, and ICT, and will offer a platform for SME cooperation and expansion on both sides, WAM said.

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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)

The Libyan oil export port of Hariga has stopped operating due to insufficient crude supplies, two engineers at the terminal told Reuters on Saturday, as a standoff between rival political factions shuts most of the country's oilfields.

This week's flare-up in a dispute over control of the central bank threatens a new bout of instability in the North African country, a major oil producer that is split between eastern and western factions.

The eastern-based administration, which controls oilfields that account for almost all the country's production, are demanding western authorities back down over the replacement of the central bank governor - a key position in a state where control over oil revenue is the biggest prize for all factions.

Exports from Hariga stopped following the near-total shutdown of the Sarir oilfield, the port's main supplier, the engineers said.

Sarir normally produces about 209,000 barrels per day (bpd). Libya pumped about 1.18 million bpd in July in total.

Libya's National Oil Corporation NOC, which controls the country's oil resources, said on Friday the recent oilfield closures have caused the loss of approximately 63% of total oil production.