Senior Correspondent, Sudan and South Sudan
Ulf's Feed
Jun 22, 2014

Libya approves overdue budget as eastern oil port reopens

TRIPOLI, June 22 (Reuters) – Libya’s parliament approved the
overdue 2014 budget worth $47 billion on Sunday, drawing on
reserves to offset a dramatic loss of oil revenue after almost a
year of protests at major ports.

The North African country is in turmoil as the government
struggles to control militias who helped oust Muammar Gaddafi in
2011 but now defy the state and seize oil facilities at will.

Jun 18, 2014

Libya condemns U.S. arrest of Benghazi suspect

TRIPOLI, June 18 (Reuters) – Libya condemned the United
States on Wednesday for snatching a man suspected of
masterminding the deadly 2012 attack on the U.S. consulate in
Benghazi, describing the arrest as a violation of Libyan
sovereignty.

President Barack Obama authorised Sunday’s operation in
which U.S. special forces captured Ahmed Abu Khatallah in Libya
for transfer to the United States.

Jun 17, 2014

Decay of Libyan state clears desert trail for Africans to Europe

GHAT Libya (Reuters) – Abdulkabir and five of his friends, all from Niger, walked for hours over rocky hills and sandy paths to cross into southern Libya, without meeting a single border guard. Safely over the border, they now feel no need to hide.

Libya’s southwestern tip in the Sahara bordering Algeria and Niger has become an open door for illegal migrants from sub-Saharan countries heading for Europe, with the chaotic government in Tripoli appearing to have abandoned all control.

Jun 15, 2014

Renegade general launches offensive in east Libya, up to 12 killed

BENGHAZI/TRIPOLI Libya (Reuters) – A renegade Libyan general launched a fresh offensive on Sunday against Islamist militants in the eastern city of Benghazi, sparking some of the worst fighting in weeks, with up to 12 people killed and power supplies disrupted.

Libyan authorities are struggling to restore order across the vast desert nation ahead of a June 25 parliamentary election. The situation remains especially chaotic in Benghazi, Libya’s second-largest city and cradle of the NATO-backed uprising that toppled Muammar Gaddafi three years ago.

Jun 12, 2014

Libyan cabinet urges central bank to release reserve fund for budget

TRIPOLI, June 12 (Reuters) – Libya’s government urged the
central bank on Thursday to release a special
multi-billion-dollar reserve fund accumulated from past oil
sales to help offset a precipitous loss of crude revenues that
has crippled state finances.

In a statement, the central bank said only that it may ask
the Supreme Court to clarify the rules under which it is legally
obliged to release funds.

Jun 11, 2014

Libya cabinet starts spending $50 bln budget despite falling oil revenues

TRIPOLI, June 11 (Reuters) – Libya’s government, suffering
from dwindling oil revenues, will allow its ministries to begin
spending the $50 billion budget it submitted to parliament at
the start of the year, even though lawmakers have not voted on
it.

The move might force the central bank to use more of its
reserves as the budget is not backed up by oil revenues which
have fallen to $1 billion a month, a quarter of what Libya used
to make in the past.

Jun 9, 2014

Libyan court says PM’s election invalid, raising hopes of end to stalemate

TRIPOLI (Reuters) – Libya’s Supreme Court ruled on Monday that parliament’s election of Prime Minister Ahmed Maiteeq a month ago was unconstitutional, a ruling that could reduce volatile political tensions in the major OPEC member state.

It also raised hope that some oil ports occupied for 10 months by rebels in Libya’s east will reopen. In April, rebels signed an accord with the government of Maiteeq’s predecessor to unblock the vital Mediterranean ports but its implementation stalled when they refused to deal with Maiteeq, a businessman.

Jun 6, 2014

Lost oil revenues have cost Libya $30 billion: central bank

TRIPOLI (Reuters) – Libya has lost $30 billion due to 10 months of protests at oilfields and export terminals but has sufficient foreign currency reserves to keep the country running, a central bank official said.

A wave of protests at oil facilities has reduced the North African country’s oil output to less than 200,000 barrels a day down from 1.4 million bpd in July before the strikes started.

Jun 3, 2014

Libyan currency under pressure as chaos, budget crisis deepen

TRIPOLI (Reuters) – Libya’s currency is under heavy pressure as a breakdown in security and a collapse of oil revenues due to port blockades have badly disrupted public finances and an economy already burdened by exploding state salary and subsidy bills.

Over the past two months, the dinar has fallen more than seven percent against the dollar on the black market, its first weakness since rebels demanding autonomy for eastern Libya seized oil export facilities 10 months ago.

Jun 3, 2014

Vandals destroy prehistoric rock art in Libya’s lawless Sahara

TADRART ACACUS Libya (Reuters) – Vandals have destroyed prehistoric rock art in lawless southern Libya, endangering a sprawling tableau of paintings and carvings classified by UNESCO as of “outstanding universal value”.

Located along Libya’s southwestern tip bordering Algeria, the Tadrart Acacus mountain massif is famous for thousands of cave paintings and carvings going back up to 14,000 years.

    • 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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