Senior Correspondent, Sudan and South Sudan
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Sep 17, 2015

“Don’t panic,” Nigerian central bank head urges banks

ABUJA, Sept 17 (Reuters) – Nigerian central bank Governor
Godwin Emefiele ruled out on Thursday a naira devaluation and
told people not to panic about the government shifting its bank
accounts to the central bank, a move that drains billions of
dollars from the financial system.

In an interview with Reuters, Emefiele said he was ready to
inject liquidity if needed into the interbank market, which
dried up this week following a directive to government
departments to move their accounts into a “Treasury Single
Account” at the central bank.

Sep 2, 2015

Eastern Libya struggles to attract oil buyers in row with Tripoli

CAIRO (Reuters) – Libya’s official government is struggling to woo oil majors in a bid to control oil revenue and force a rival Tripoli government into a U.N. peace deal because foreign clients are wary of breaking with the established state energy firm in the capital.

The battle over Libya’s oil resources is at the heart of a conflict between two governments and parliaments allied to a host of armed groups fighting for power four years after an uprising ousted leader Muammar Gaddafi.

Aug 23, 2015

East Libyan state oil firm wants to discuss contracts with oil majors at Dubai conference

CAIRO, Aug 23 (Reuters) – A state oil firm loyal to Libya’s
official government based in the east of the country has invited
foreign oil firms to discuss existing oil purchase contracts at
a conference in Dubai next month, it said in a statement.

The move is a fresh attempt by Libya’s internationally
recognised government to control state oil firm NOC, which is at
the centre of a conflict between two rival administrations four
years after the ousting of Muammar Gaddafi.

Aug 2, 2015

Kerry says to seek more support for Libya peace plan

CAIRO (Reuters) – U.S. Secretary of State John Kerry said on Sunday he would seek greater backing for a U.N. peace plan for Libya which has been spurned by some key players in a country where two rival governments are vying for power.

Some warring factions signed an initial United Nations-sponsored deal on July 12 to form a unity government and end fighting, but the parliament in Tripoli – set up to rival the official assembly which was pushed out of the capital – rejected the agreement.

Jul 31, 2015

Libya food imports fall as turmoil disrupts deliveries

LONDON/CAIRO, July 31 (Reuters) – Imports of food, including
wheat, are dropping sharply to Libya, which has the highest per
capita bread consumption in the world, as foreign shippers run
scared of making direct deliveries due to worsening turmoil.

The country is in chaos, with two governments fighting one
another and armed groups roaming uncontrolled, among them
Islamic State militants who have attacked oilfields.

Jul 25, 2015
via FaithWorld

Expulsion from Derna bastion may show limits for Islamic State in Libya


(An armed motorcade of Derna’s Islamic Youth Council, which has pledged allegiance to Islamic State, drive along a road in Derna, eastern Libya October 3, 2014. REUTERS/Stringer)

Islamic State jihadists have exploited widespread chaos to gain a foothold in Libya, but their ejection from an eastern city suggests they may not achieve a Iraq-style takeover due to strong local rivals and the absence of sectarian divisions.

Jul 24, 2015

IMF names eastern central bank governor as its Libya contact

BENGHAZI, Libya/CAIRO, July 24 (Reuters) – The International
Monetary Fund said on Friday it has recognised the central bank
governor named by Libya’s official government as its sole
contact and ended ties with a rival bank chief in Tripoli.

The move risks making it even harder for foreign states to
foster cooperation between the warring administrations because
the official government sits in eastern Libya and the central
bank in Tripoli controls the country’s vital oil revenues.

Jul 20, 2015

Insight – Why Libya’s coastguard struggles with migrant tide

TRIPOLI (Reuters) – A few weeks ago, a sailor in Libya’s coastguard scooped up Luchiya Mhreteab and her two small children after the boat taking them to Italy sank off Libya’s northern tip.

Mhreteab, 30, had fled Eritrea and is pregnant. She and her five-year-old daughter Dina and three-year-old son Yosan now live on a mat in the courtyard of a Libyan detention centre. They eat rice and vegetables three times a day, Mhreteab explained, her ripped black abaya stretched across her growing tummy. “I don’t know what to do next.”

Jul 8, 2015

A front-row seat as Libya’s hopes faded

TRIPOLI (Reuters) – Late last year I was sitting in Tripoli’s foreign ministry when a guard drew a gun on a colleague next to me and then kicked him down a stairwell. His mistake? He had complained about a news conference being delayed.

That was the moment I lost my last illusions about the Libyan revolution.

The guard’s bosses quickly moved to punish him and his act was one of individual anger not policy. But the episode shows how Libya had changed since rebels toppled Muammar Gaddafi in August 2011. Back then, young fighters in Tripoli had celebrated into the night after they seized Gaddafi’s Bab Aziziya compound. There was a sense of promise and a longing for change in almost everyone you spoke to.

Jun 12, 2015

Libya’s official government fails to sell oil directly – sources

CAIRO, June 12 (Reuters) – Libya’s official government,
based in the east since fleeing the capital, has so far failed
to sell oil by itself, despite setting up a Dubai bank account
and new central bank unit, industry and banking sources say.

The internationally recognised government said in March it
wanted oil buyers to pay through a new state oil firm with an
account in Dubai and stop dealing with the established entity in
Tripoli controlled by a rival government.

    • About Ulf

      "I am Senior Correspondent, Saudi Arabia, covering from the Saudi capital Riyadh political, economic and social news and in-depth analyses from the world's top oil exporter and biggest Arab economy. I have also reported for Reuters from Kuwait, Yemen and Iraq."
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