Libyan Crude Exports Rose Sharply Last Week

A general view shows Libya's Sharara oilfield. (File photo: Reuters)
A general view shows Libya's Sharara oilfield. (File photo: Reuters)
TT

Libyan Crude Exports Rose Sharply Last Week

A general view shows Libya's Sharara oilfield. (File photo: Reuters)
A general view shows Libya's Sharara oilfield. (File photo: Reuters)

Libyan crude exports reached about 550,000 barrels per day last week, a three-fold increase on the previous week, according to data from analytics firm Kpler and a shipping agent, Reuters reported.

Tankers carrying crude including Flavin, Pacific Pearl, Ghibli, and Delta Atlantica set sail to European destinations from various Libyan ports in the week starting Sept. 9, the data show.

This comes as the OPEC producer remains in the throes of a political stand-off that has hampered its oil production.



Fitch Ratings Upgrades Tunisia's Credit Rating to CCC+

People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo
People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo
TT

Fitch Ratings Upgrades Tunisia's Credit Rating to CCC+

People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo
People walk out of the Central Bank in Tunis, Tunisia, October 4, 2017. REUTERS/Zoubeir Souissi/File Photo

Fitch Ratings has upgraded Tunisia’s credit rating to CCC+, reflecting growing confidence in the government’s ability to meet its significant financing needs.

Fitch noted Monday that continued external support and a decrease in foreign debt repayments would enable Tunisia to balance its net external financing by 2026.

“We believe that the local banking sector can play a key role in meeting Tunisia’s financing needs, with state-owned banks likely to take on a larger share of the burden due to the cautious approach adopted by some private banks,” the agency added.