Heavily subsidised fuels are being smuggled out of the country and sold abroad, helping sustain its rival political factions ...

Tripoli's vast oil reserves, managed by the National Oil Corporation (NOC), have become a focal point for illicit activities, ...

And Libya's oil sector is central to the corruption ... despite living atop Africa's largest oil reserves—and in the time of a relatively high global oil price. In tandem, a geopolitical storm ...

Oil continues to be an essential resource for economies worldwide, but particularly in Africa A lot of countries depend on oil for revenue collection, energy generation, and economic progress A ...

Libya, holding Africa's largest proven oil reserves, has struggled to maintain consistent output levels due to internal conflicts and infrastructure damage since 2011. "This marks a significant ...

The Central Bank of Libya (CBL) reaffirmed its commitment to providing foreign currency to meet the needs of the local market ...

In January, Libya's acting oil minister, Khalifa Abdulsadek ... U.S. stocks rallied on Wednesday after the Federal Reserve kept rates unchanged as widely expected, and the central bank and ...

Libya has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National ...

Gaddafi's huge fortune was made possible by Libya’s oil. The country has the largest proven oil reserves in Africa, with crude production forming more than 90% of export revenues. At its peak in ...

Libya has launched its first bidding round for oil exploration in more than 17 years, aiming to bolster its position in the global oil market and achieve a production target of two million barrels ...

threatening to shut the country's oil fields. There was no comment from the government on the PFG move as of 3.15 p.m. local time (1315GMT). Libya holds Africa's largest crude reserves ...

Libya, which holds Africa’s largest proven oil reserves, has faced challenges in maintaining consistent output due to internal conflicts and infrastructure damage since 2011. “This marks a ...