Eid Mubarak

كل العام وانتم بخير بمنا سبة عيد الفطر المبارك
اعاده الله عليكم باليمن والبركة

Wishing you all Eid Mubarak

Lino's Coffee (Italian) Opens Branch in Tripoli

I read an article in Tripoli Post saying that a new Italian coffee shop was opened in Gargaresh road in Siyahiya area.

The article say that The launching ceremony was attended by several invited guests who had a chance to taste some 16 kinds of coffee in an elegant atmosphere.These include Cappuccino, Cafetino Goloso, Cafetino Sfizzioso, American Coffee, Bolero, Budinoso and many others.

At Lino's Coffee you can be served breakfast from 7 am to 12 noon. There is also the evening session which extends until 11 pm.

I would like to hear a feedback or even a review about the shop in terms of quality, price, atmosphere etc, cos I am travelling to Tripoli this weekend for Eid holiday and would like to try it.

The Report by BBC Radio 4 about Libya (Part 1)

I was a guest at the BBC Radio 4 on a programme called The Report which was broadcasted last night (Thursday 10th Sep 2009) at 8pm, the programme was presented by James Silver who examined the potential effect of the decision to release Abdelbaset Al-Megrahi on trade relations between Libya and the West.

Well, I have to say the programme made Libya look like an evil state which I did not think was encouraging.

Having said that Libya is a major producer of high quality, sweet crude oil with low sulphur that makes it easier to refine.

Libya has the largest proven oil reserves in Africa, set at 41.5 billion barrels and natural gas reserves were estimated at 54.5 trillion cubic feet.

Libyas hydrocarbon reserves potential could be substantially higher, as only 25% of the country is covered by exploration agreements.
Libya currently produces 1.7 million barrels of oil a day and is aiming to increase production to 3 million barrels a day by the end of 2015. To achieve this aim, foreign investments are needed. Libya is as well Europes single biggest oil supplier and has become one of the most vocal members of OPEC.

"The Report" by BBC Radio 4

I was a guest at the BBC Radio 4 on a programme called The Report which was broadcasted last night (Thursday 10th Sep 2009) at 8pm, the programme was presented by James Silver who examined the potential effect of the decision to release Abdelbaset Al-Megrahi on trade relations between Libya and the West.

Libya has some of the world's biggest reserves of oil and gas - might British industry benefit from Libya's desire to develop its economy?

Well, I have to say the programme made Libya look like an evil state which I did not think was encouraging.

You may listen to the programme from the link below

http://www.bbc.co.uk/iplayer/episode/b00mgy5h/The_Report_10_09_2009

Libya decides to invest $10 bln to develop oilfields

Libya’s General People’s Committee decided on 09/09/2009 to invest 12.1 billion dinars ($9.92 billion) to develop and maintain 24 oil wells the government described as "technically, financially and economically proven productive fields", the cash will be borrowed from local banks and local Libyan or JV companies would only take part in the scheme.

It will include main oilfields among the 24 wells involved in the development programme such as Waha-Jalou North field which would see its production capacity up by 100,000 barrels per day (bpd) with a total investment of 1.6 billion dinars.

And Nafoura-Oujlaa-Khleej field to increase it to 130,000 bpd of output capacity with a total investment of 1.3 billion dinars.

NOC is tasked with carrying out a study of 13 other fields to find out whether they would be included in another development plan.

Libya has the largest proven oil reserves in Africa, set at 41.5 billion barrels and Europe’s single biggest oil supplier. Libya, an OPEC member, produces about 1.8 million bpd of oil and hoping to increase its daily production to 3 million bpd by 2015.

Source: Reuters, GPC and Sahra Oil Consultancy Ltd

Libya's Ghanem not to attend OPEC meeting

According to the latest reports coming in and especially the one coming in from Reuters in which confirms what I have written before about the resignation of Mr. Shokri Ghanem.

Reuters stated that he will not be attending the upcoming OPEC meeting in Vienna and the reason is that he submitted his resignation and still waiting for a reply from the Libya authorities.

The main reason for him to resign according to Reuters is the dispute between Libyan and Verenex (Canadian Company) in which Libya was trying to buy the company and at the same time China was too trying to buy it and it led to Libya refusing to approve the deal for China.

The question now is who is going to replace him?

Sources: Reuters and Sahra Oil Consultancy

Shokri Ghanem resigns

There were some rumours on various website circling that Shokri Ghanem the head of Libya’s NOC resigns but at the same time Libya's OPEC Governor, Ahmed Elghaber, said. "Nothing has been officially announced about his resignation, whether he wants to stay or go it's a personal decision," Elghaber told Zawya Dow Jones in a telephone interview. "He is still the top oil official and there is no replacement as of yet," he added.

Mr Ghamem Ghanem was prime minister of Libya between 2003 and 2006 and then took this post in Mar 2006 and he rapidly made many changes to the management of the NOC by replacing old top officials and bringing new ones which indeed upset many people within the corporation.

Well, they say “there is no smoke without fire”

Let’s wait and see, it’s only time will tell