BurgerFuel Worldwide (BFW) opening in Libya

BurgerFuel Worldwide (BFW) will be opening on the Mediterranean shores of Libya. The New Zealand gourmet burger company has announced its latest Master Licence Agreement shortly after the news that it will also open stores in Qatar.

BurgerFuel has partnered with the Sadeen General Trading Co based in Libya. This well known local company operates the Il Caffe di Roma concept as well as a host of international brands such as Lavazza coffee, Villeroy & Boch and Italian mineral water - Ferrarelle. The group also represents Dornbracht, Bossini, Roca and an array of other high quality European brands.

BurgerFuel's CEO of International Markets, Chris Mason, who is based in Dubai, said that "We saw Libya as one of the leading countries to enter into in the North of Africa. Democracy is flourishing right now so this is a sought after market to enter and to take first mover advantage in. Our partner has opened the first Il Caffe di Roma which is achieving amazing sales figures and we see BurgerFuel being just as successful."

Libya has 1,800 kilometres of coastline on the Mediterranean where 80 to 90 per cent of Libyan residents live. It has some of the region's highest GDP and HDI (the UN's Human Development Index) rates, along with its substantial natural oil reserves.

BurgerFuel Worldwide CEO, Josef Roberts said "We're interested in both established and emerging markets, especially those that are re-inventing themselves, creating new democracies and progressing. We want to be there from the beginning. We see big opportunities for BurgerFuel to establish now and grow over the years to come. People in these countries like our non-American, New Zealand DNA - they want BurgerFuel." BurgerFuel exports pure New Zealand grass fed beef to the Middle East and the North Africa region. They will also open another new territory, across the border from Libya in Egypt later this year continuing its drive and reach across North Africa. BurgerFuel Worldwide Ltd (BFW) is a NZAX listed company. Its shares are currently trading at 80 cents.

Libya's Agoco Oil Output at 331,000 bpd

Libya's Arabian Gulf Oil Co (Agoco) is producing around 331,000 barrels of oil per day (bpd) and hopes to reach full production in a few weeks, a spokesman said. "We hope that we will reach our normal production at the beginning of April," Agoco spokesman Abdeljalil Mayuf said by phone.

The Benghazi-based company had previously said it expected to return to full output of 425,000 bpd by the end of February. However, electricity problems, mainly a delay in restoring full power at some oil fields, have meant this has been pushed back.

Source: Gulf Oil and Gas

www.soclibya.com

ANEL MEP set to resume Libyan operations shortly

Operations in Libya are set to resume following the cessation of the civil unrest in the North African country, the Qatari head of ANEL MEP has said.

In an interview with MEP Middle East, Paul McFarlane said that the Turkish MEP firm had already begun setting up its operations again in Libya, as the troubled state returns to normal following the toppling of Muammar Gaddafi.

“There’s a lot of work that needs to be done in Libya, in Tripoli,” McFarlane said, “We hope we can be involved in all those markets, our operations are back on again and I’d like to think we’ve positioned ourselves very well, certainly in this part of the world (the GCC) and in North Africa.”

“We can deal with all of these markets comfortably, and develop the business with existing clients and hopefully get some new ones,” he added.

In addition to its Libyan resumption, ANEL will also look to step up its operations in Saudi Arabia, which continue to show promising growth, according to McFarlane.

“Our office in Saudi Arabia, ANEL KSA, will cater to the Saudi Arabian MEP market. We’ve formed a joint venture with a company in the Kingdom, which forms part of the Saudi Bin Laden Group, and we’re currently working on our 10th international airport project there, the King Abdulaziz International Airport,” he explained.

Furthermore, the company recently opened a representative office in Abu Dhabi during the third quarter of 2011. This office would be used to drum up business in the UAE capital, while also being used as a base to enter the market once Dubai begins to show signs of sustained improvement.

However, McFarlane admitted that the MEP firm’s primary focus would be on the development of its business in Qatar, which is set to be a major source of income for the company over the next few years.

“As far as Qatar is concerned, the company’s attentions are firmly geared around its operations at the moment. We class Qatar as our central hub for GCC operations, obviously because of the work we’ve done here in the past and the work that’s potentially lined up for the future,” he said.

Source: Construction Week On Line

www.soclibya.com

Full return of Libyan oil to ease global pressure

Libya's oil exports are set to return to full pre-war levels by April this year, beating even the most optimistic estimates and potentially easing a global shortfall of oil caused by outages and conflicts.

Libya plans to export almost 1.4 million barrels of oil per day (bpd) in April, a senior National Oil Corp (NOC) official said. At that level, its exports will exceed deliveries in February 2011 before the uprising that ousted Muammar Gaddafi began.

The rapid surge in flows, chiefly to importers in the Mediterranean, may ease pressure on global markets caused by conflicts in several oil producing countries as well as the loss of Iranian oil in July when Western sanctions kick in.

European refiners are struggling to cope as these supply problems have pushed Brent crude up by more than 17 percent since the start of the year to a high of $126.05 a barrel on Monday.

In post-war Libya, Italy remains Libya's biggest oil trading partner, accounting for almost a third of its total exports.

But Libya's second-biggest oil export destination for the year is now China, which has accounted for around 17 percent of total exports since the start of the year, NOC data shows. -

Source: Reuters

www.soclibya.com

Libya's LAP Green fights Zambia for Zamtel stake

Libya’s LAP Green sues Zambian government claiming $480m for seizure of stake in operator Zamtel

The Libyan Investment Authority’s telecommunications unit LAP Green Network is suing the Zambian government over the seizure of a 75% stake in Zambian fixed-line operator Zamtel.

LAP Green, a Gaddafi-era business with investments in a number of African operations, has filed a petition before the Zambian high court. The company has rejected the Zambian government’s claim that the stake was taken for “public purposes”, and is suing the government for $480 million.

Wafik Al-Shater, chairman of LAP Green, told the Zambian Watchdog: “LAP Green is very clear that the seizure of our shareholding in Zamtel by the Zambian government was illegal and unconstitutional, and to the detriment of both Zamtel and its customers.”

LAP Green claims it revived the bankrupt operator by enhancing and upgrading infrastructure and systems, which facilitated improved network performance and superior customer service.

Al-Shater said: “In the 18 months that Zamtel was under LAP Green’s management, we increased its total subscriber base by 600% — to over one million at the start of 2012 — and significantly increased the company’s market share, leading to a 50% increase in revenues. The growth and prosperity that Zamtel saw under our management was unprecedented.”

Zambia’s previous government sold a majority stake in Zamtel in 2010 for $257 million to LAP Green, when Muammar Gaddafi still ruled Libya. However, an enquiry by the next elected government held that the stake was sold fraudulently, and the deal was reversed. The government seized control of Zamtel in January 2012.

LAP GreenN says if the stake is not restored it will seek financial compensation of the asset’s value at the time of seizure, $480 million, plus dditional claims on account of the losses arising due to the seizure.

Al-Shater told the Zambian Watchdog: “We are compelled to take this course of action as dictated by the procedure set out in Zambian law. To recover the company’s significant investment in Zamtel, LAP Green will consider any and all legal options available, if necessary, whether in Zambia or in other jurisdictions.” GTB

Source: Global Telecoms Business

Moving Ahead In Libya

Secretary of State Hillary Clinton shakes hands with Libya's Prime Minister Abdurrahim el-Keib, March 8, 2012, at the State Department in Washington

Hillary Clinton reports improvements in Libya's government, private sector and civil society.

It has been four months since Libyan rebel groups ousted brutal dictator Moammar Gadhafi. During that time, the interim Libyan government has been hard at work putting the country back together.

Following a recent meeting with Libyan Prime Minister Abdurrahim ElKeib, U.S. Secretary of State Hillary Clinton said there has been progress in three key areas: building an accountable, effective government; promoting a strong private sector; and developing a strong civil society.

On the government front, the interim leadership in Libya has established an inclusive election law and set up a supreme elections commission with the goal of holding constitutional assembly elections in June. This is a critical first step that will pave the way for a new constitution grounded in democratic principles.

The United States stands behind the elections commission as it works to meet its deadlines so Libyans can ultimately elects a fully democratic parliament that can begin delivering results for all Libyans.

The United States is encouraged by the prime minister’s commitment to build an environment that respects and protects human rights and rule of law. The Libyan government committed to investigating and holding accountable those responsible for human rights violations, which will build a foundation for respecting all people, including the most vulnerable. The U.S. offered assistance in addressing human rights concerns and continues to support emerging Liyban activists, including women.

The United States is also working with its Libyan partners on border security, migrant treatment, integrating militias, and working toward national reconciliation.

At the same time, on the economic front, business is picking up. Libya has exceeded all expectations in resuming oil production after the end of hostilities last year. The U.S. and United Nations have removed almost all restrictions on doing business in Libya and the U.S. is encouraging American companies to look for opportunities to invest in Libya.

The U.S. is also supporting the new civil society that is developing in Libya. The U.S. Middle East Partnership Initiative and the United States Agency for International Development Office of Transition Initiatives are working with many civil society groups on various transition issues.

The United States is also working to find ways to promote partnerships and exchanges in the health field in order to assist the war wounded.

The United States looks forward to working with the Libyan government and people to make progress on behalf of a new, free, and democratic Libya.

Source: Voice of America

Oil executives in Nigeria earn more than counterparts in UK, Libya, others -Research

A typical oil and gas executive in Nigeria earns nearly half a million dollars a year, chalking up the biggest premium for working abroad over salary levels in Britain, research released on Monday showed.

A typical senior oil and gas employee in Nigeria will receive a supplementary country premium worth 45 percent of base pay, taking the total salary to $454,400 a year, a study by the Curzon Partnership recruitment consultants showed.

This trumps packages for executives working in Libya or Iraq, who could expect a total salary of around $354,900, the research found.

Oil and gas workers from developed nations working in Nigeria are paid well because of the number of projects that need international staff, local skills shortages and big cultural differences, the firm said.

"Whilst Lagos is an exciting and well established place to work for expats, oil & gas companies recognise that the incentives have to be high, because life as an expat in Nigeria is so different from countries with broader industries and higher standards of living," Helen Di Mauro, a partner at the Curzon Partnership, said.

Oil industry executives in Indonesia can expect a premium of 40 percent in Indonesia, 35 percent in Ghana and 30 percent in Libya, Kurdistan or Egypt, the research found.

-Reuters

Canada-Libya Chamber of Commerce (CLCC) To Establish Trade Office for Bilateral Trade and Education

OTTAWA, Ontario and TRIPOLI, Libya, March 12, 2012 /CNW/ - The Canada-Libya Chamber of Commerce is pleased to announce the establishment of an office to support trade between Canada and Libya.

The creation of the CLCC is in direct response to the need for strong cultural and economic ties between Canada andLibya. Sara Bronfman, a well-known philanthropist, has been appointed as the Chamber's inaugural President and Basit Igtet, development expert and Libyan national, is appointed as Chairman.

Igtet stated, "Canada is developing good relations with Libya and we feel that Canadian corporations, specifically engineering and infrastructure firms are uniquely positioned to establish trade between Libya and North Americas."Mr. Igtet further stated "Canadians have a long standing tradition of supporting trade initiatives that encourage social welfare and development." We are proud to support trade between Libya and Canada and feel that this Chamber will be a great success for both Libya and Canada.

Mr. Igtet is noted as President and co-founder of the Independent Libya Foundation (www.inlifo.eu) and also served as a Special Envoy for the Libyan people and their transitional government. Mr. Igtet was a significant force in Libya's international recognition and facilitated direct humanitarian support for the Libyan people during and after the revolution.

Canada recently completed a trade delegation to Libya where Trade Minister Fast led a coalition of Canadian firms wishing to develop ties with Libya. The Canada-Libya Chamber of Commerce is an NGO that is focused on the following mission statement:

LOCAL: to develop real entrepreneurs with ethical principles and encourage them to be real producers and individuals who add value to the community through being active in building the country. We must also raise the level of business to meet expectations of the international market in terms of quality and transparency and encourage healthy competition.

INTERNATIONAL: to ensure that international partners have the quality and the principles of business that we require and that they are willing to contribute to the building of a productive society.

The Canada-Libya chamber of commerce will focus on the development of the following areas:

1. Management
2. Business models
3. Participation and partnership
4. Control and observation

The initial CLCC directive board is comprised:

Basit Igtet- Libyan National, President of the Independent Libya Foundation

Sara Bronfman- Recognized philanthropist and development expert

Richard H. Griffiths- Canadian national, Diplomatic Advisor and international affairs expert

The Chamber of Commerce will have its initial base of operations in Ottawa, Canada and will soon be opening offices in Tripoli, Libya.

The newly established chamber will begin a membership reach out to invite suitable Canadian corporations to join through membership. In addition, a planned micro conference on Libya-Canada will be planned to support Chamber awareness and activities

About the CLCC
The Canada-Libya Chamber of Commerce (CLCC) was founded on February 17, 2012 (the anniversary of the Libyan revolution) to support and encourage Canadian businesses in Libya while promoting, developing and encouraging ethical business practices. The CLCC is currently based in Ottawa, Canada and will be opening offices in Tripoli,Libya in 2012.

CANADA-LIBYA CHAMBER OF COMMERCE
www.canada-libyachamber.org

Trade Mission to Libya (April 2012)

Trade Mission to Libya (April 2012)

We are organising a small multi-sector trade mission to Libya from 23 - 26 April 2012. The mission will be in line with OIL & GAS LIBYA 2012 exhibition in Tripoli, to allow mission participants to attend the exhibition as well. There will be meetings with officials, key personals, Libyan private companies etc.

I will lead the mission which will visit Tripoli.

All companies, firms and organisations are invited to take part of the mission which is open to all. If you are interest, or anyone you might know, to participate or require further details please contact us at: email info@soclibya.com, Telephone: +44 208 9878450 or Mobile: +44 777 4013043

Looking forward to hearing from you

Thank you

Tarek Alwan

Libya resumes offshore exploration-NOC

Libya has resumed offshore exploration for the first time since the end of Muammar Gaddafi’s era, and the work is being carried out at a bloc operated by Italy’s Eni, the National Oil Corporation NOC) said on Monday.

“The National Oil Corporation announces the resumption of exploration activity in the maritime area next to Tripoli at bloc MN41 belonging to Italian company Eni,” said a statement on the NOC website. Arabic version (http://bit.ly/xnqAC4)

The bloc is about 100 km (62.5 miles) from Tripoli, it said.

NOC said on Feb. 27 it was resuming onshore exploration work.

Libyan stock exchange says to re-open on March 15

Libya's stock exchange is to re-open on March 15, just over a year after the country's conflict forced it to close down, the head of the bourse said on Sunday.

The exchange had previously said it would open at the end of February, but General Manager Ahmed Karoud said that was pushed back because of electricity outages at the bourse and delays in receiving regulatory filings from the listed companies.

The re-launch of the exchange will be a symbol that Libya is open for business again after the conflict that ousted Muammar Gaddafi. It is also likely to attract interest from foreign investors seeking opportunities in the new Libya.

"We will resume trading on the Libyan Stock Market on March 15, after nearly a year and a month of being closed," Karoud told a news conference.

"The Libyan Stock market will work with a new image," he said. "For three years there was no investment fund set up in Libya, and there is no presence of foreign investors. In the next phase there will be a diversity in ... the Libyan equities market."

He said the market would re-open with five listed companies, down from the 13 who traded on the bourse before the conflict. He said the reduction was because some of the firms had not yet met the exchange's regulatory requirements.

In an interview with Reuters last month, Karoud said the board was planning to set up a Sharia-compliant Islamic finance fund. Such funds tend to attract interest from wealthy investors in the Gulf.

Source: Reuters

Dubai Chamber to launch Libya Strategic Investment Forum in May

Move is part of the expansion plans into the Libyan market

Seeks stronger trade ties and explores opportunities for Dubai businesses in the promising Libyan market

Forum will host parallel sessions on infrastructure, construction, tourism, hospitality, oil and gas, and finance

302 Libyan partnership companies currently operating in Dubai

Dubai, UAE: In order to explore the growth prospects offered by Libya's redevelopment process and as part of its efforts to enhance trade ties with the African country, the Dubai Chamber of Commerce and Industry has announced organizing of a major Libya Strategic Investment Forum to be held in Dubai on May 7.

The announcement came on the heels of a Dubai Chamber delegation's participation in the recent TEDx Tripoli conference held in the Libyan capital which saw a large turnout of business leaders, decision makers and entrepreneurs from the world over. The high level delegation was led by H.E. Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber.

H.E. Al Ghurair stated that Libya is a promising destination for Dubai's business community as the country's redevelopment process offers excellent opportunities for Dubai Chamber members to use their expertise and benefit from the growth prospects offered by the country's trade, infrastructural, and financial services sectors as well as to increase their competitiveness in the Libyan market.

The Chairman of Dubai Chamber informed that the Libya Strategic Investment Forum will be attended by high profile government officials, dignitaries and business leaders from the UAE and Libya and will host parallel sessions on infrastructure and construction, tourism and hospitality, oil and gas, and finance and also a presentation on how to do business in Libya.

"As part of our efforts to explore new and lucrative markets for our members, Dubai Chamber has been closely monitoring the economic situation in Libya and has also been active in gathering the necessary information on the potential business in the Libyan market," added H.E. Al Ghurair.

He further stressed that Dubai Chamber has established strong relationship with the Libyan Union of Chambers of Commerce, Industries and Agriculture and has learnt that the country has not changed its investment law and is giving priority to UAE businesses while also attracting them to get involved in the rebuilding process of Libya.

On their part, the Libyan officials expressed their desire to emulate the example of Dubai Chamber and to benefit from its experience of developing partnerships with strategic global chambers and their members, its liaison with world chambers bodies in implementing best business practices while also exploring new markets for its members.

They also showed their interest in adopting the successful examples of Dubai Chamberin honing the skills of its workforce, its work management ethics and best business policies which they said can contribute to improve the performance of Libyan Chamber during the country's transition period.

Last month, a Dubai Chamber team accompanied the UAE delegation headed by the Ministry of Foreign Affairs when the Libyan officials expressed their desire to establish strong economic ties with Dubai and to offer all facilities to the Emirate's investors in Libya.

Dubai Chamber is also extending its support and endorsement to the Libya Infrastructure & Rebuild Conference which will be held in June in Dubai. The event will provide a major showcase of various industry expertise reflecting the importance of the vital sectors to Libya's economy as well as the essential contacts necessary for the participating companies to secure a part in Libya's economic development programme.

Currently, there are 302 Libyan partnership firms registered with Dubai Chamber and operating in Dubai as the Emirate's non-oil trade with Libya in the first five months of 2011 stood at AED 1.3 billion while trade with the country valued at AED 7.5 billion in 2010 and AED 8.1 billion in 2009.

Source: Zawya (Press Release)