AGP Executive Report

Retail Investment: Alushibe Holding Group plans to invest $7 million in seven MADO cafés in Libya, starting in Benghazi, with 350 jobs expected; it aims to bring 12 international food and beverage brands to the country by 2028. Trade Links: Air Algérie has resumed direct Algiers–Tripoli flights after nearly 12 years, with two weekly services expected to support passenger travel, air cargo and commercial exchange. Business Finance: Libya’s first sukuk forum explored Islamic finance instruments to broaden investment options, while a $1 million entrepreneurship grant will train 200 business owners and help address barriers to finance. Industrial Growth: Business groups and regulators are reviewing proposed rules to make industrial zones more attractive to local and foreign investors. Energy: Sirte Oil has opened the Al-Rashad gas field, with capacity of 50 million cubic feet a day, to support power supply and energy security.

Gas & Power: Baker Hughes–Libya called the Al-Rashad gas field a boost to production and energy security; the field is designed to add 50 million cubic feet a day and support the power grid. Investment: Economy Minister Suhail Bousheha said Libya spent about $10 billion a year on development over the past four years, and wants to channel oil wealth into productive investment and diversification. Small Business: The African Development Bank approved a $1 million grant to train 200 entrepreneurs and 50 banking professionals, expand access to finance and develop lending products for women and young business owners. Banking: More than 60 Central Bank of Libya professionals completed Islamic finance training with the Islamic Development Bank Institute, covering liquidity management and Sharia-compliant monetary tools. Trade & Energy: Vladimir Putin said Russia-Libya trade is growing and called for a full restart of the countries’ joint intergovernmental commission, with energy cooperation also on the agenda.

Russia–Libya Trade: Vladimir Putin says bilateral trade is growing and Moscow wants to resume the countries’ joint intergovernmental commission’s full work. Financial Sector: IsDBI and Libya’s central bank trained more than 60 senior staff in Islamic monetary policy, liquidity and treasury management. Small Businesses: The African Development Bank approved a $1 million grant for entrepreneur training and better access to finance, with a focus on women and young people. Energy: Libya has opened the Al-Rashad gas field, with capacity of 50 million cubic feet a day, while Sirte Oil plans to divert 60 million cubic feet of gas into the network instead of flaring it. Transport and Trade: ICAO lifted longstanding restrictions on Libyan airspace, while Libya and Algeria are coordinating to reopen the Ghadames–Debdeb crossing to goods and passenger traffic before year-end. Market Access: Tunisian exporters are being urged to check Libyan rules on business registration, pesticides, trademarks and commercial agencies.

Trade and Construction: Seventeen Italian companies will exhibit at Tripoli’s Libya Construction Expo from November 8–11, bringing machinery, engineering and furnishing firms to meet local buyers. Energy: Libya’s new Al-Rashad gas field is expected to add up to 50 million cubic feet of daily capacity, while the NOC has also resumed methanol production and refining at Sirte Oil Company. Transport and Connectivity: International aviation safety warnings on Libyan airspace have been lifted after 11 years, a step toward restoring commercial links. Benghazi has also welcomed the Medusa submarine cable, supporting the city’s digital infrastructure. Investment: Türkiye says it may pursue further hydrocarbon deals by year-end, building on exploration agreements in Libya.**

Airspace Revenue: Libya says ICAO has lifted aviation warnings, opening the way for more transit traffic. Authorities report 61,968 monthly permit requests for the winter season, up from about 2,000 a month last season, and expect the corridor to generate state revenue. Digital Infrastructure: O3 Group says the Medusa submarine cable has arrived in Benghazi, part of plans to expand fibre, 5G and data centres; service has not yet been confirmed as operational. Energy Investment: Türkiye may pursue acquisitions and new exploration partnerships by year-end, with Libya among its target markets as Ankara seeks to expand production. Economic Reform: Libya’s economy minister and UNDP discussed inflation, excess liquidity and the need for tighter fiscal coordination, alongside efforts to attract investment and diversify the economy. Oil and Finance: The interim Central Bank governor met the finance minister and NOC chief to discuss coordination, as a contested leadership transition raises concerns over control of oil revenues and financial stability. Gas Supply: Libya has opened the Al-Rashad gas field, with stated capacity of 50 million cubic feet a day, and restarted operations at Brega refinery.

Economic Coordination: Interim Central Bank Governor Fawzi Abu Khazam met with the finance minister and NOC chairman to coordinate support for financial stability and oil-sector operations, as the bank navigates a disputed leadership transition. Development and Investment: Libya’s economy minister and UNDP’s regional director discussed inflation, excess liquidity, fiscal discipline and projects to diversify the economy, improve infrastructure and attract productive investment. Airspace Revenue: Libya says international aviation restrictions imposed in 2015 have been lifted. It reports demand for 61,968 monthly transit permits this winter, up from about 2,000 a month last season, creating a potential new revenue stream. Gas Supply: The Al-Rashad field has opened with capacity of up to 50 million cubic feet a day. A restarted Brega processing unit is also expected to send about 60 million cubic feet daily into the gas network instead of flaring it. Offshore Investment: Joint Oil has extended its Tunisia–Libya offshore bid round to December 31, offering exploration and development opportunities in the Gulf of Gabès–Tripoli basin.

Energy: Libya brought the Al-Rashad gas field online, adding capacity of up to 50 million cubic feet a day for power plants and industry. The NOC also reopened the Brega refinery after maintenance and restarted gas-processing and methanol facilities, allowing 60 million cubic feet of gas to enter the national network instead of being flared. Investment: At the World Investment Forum in Doha, Prime Minister Abdul Hamid Dbeibeh called for stronger economic ties with Qatar and said Libya was open to partnerships across energy, infrastructure, agriculture and other sectors. Finance and infrastructure: Interim Central Bank Governor Fawzi Abu Khazam held his first departmental meeting as Libya’s rail authority reviewed contracted projects with Russian and Chinese partners and explored a Tripoli monorail proposal. Oil operations: The NOC reported that a pipeline valve closure near Zawiya had cut output at two fields, highlighting the vulnerability of production to disruptions. Offshore prospects: Parliament’s approval of the Turkey maritime deal could shape future energy exploration, but objections from regional governments and the US add uncertainty for investors.

Energy: Libya opened the Al-Rashad gas field, with capacity of up to 50 million cubic feet a day, and restarted the Brega refinery and Sirte Oil Company’s methanol plants after maintenance. The gas is expected to support power generation and industry. Central Bank: Interim Governor Fawzi Abu Khazam met department directors as the bank faces a leadership transition, underscoring the importance of maintaining operations and financial services. Oil Supply: An unauthorized pipeline valve closure near Zawiya has cut flows from the Hamada and Tahara fields, putting production and export revenue at risk. Investment and Trade: Parliament’s approval of the maritime agreement with Türkiye could open the way for joint energy exploration, but regional objections and rising tensions cloud the investment outlook.

Oil Supply: NOC says unidentified armed men shut a valve on the Hamada–Zawiya pipeline, disrupting crude flows from the Hamada and Tahara fields and forcing production cuts. Brent settled at $116.72 a barrel, its highest since April, amid broader supply fears. Central Bank: Libya’s eastern parliament accepted Governor Naji Issa’s resignation; interim chief Fawzi Abukhzam faces a reported raid on the bank’s Tripoli headquarters. The UN says the bank’s independence is essential. Energy and Maritime Rights: Parliament’s approval of the maritime agreement with Türkiye has stirred objections from Egypt and Greece, while Prime Minister Abdulhamid Dbeibah says Tripoli is ready to discuss Cairo’s concerns. Economic Diversification: Libya has begun developing its first Blue Economy Strategy, spanning fisheries, tourism, marine energy and transport, with adoption targeted for 2027. Trade: Libya and Indonesia signed an agreement to facilitate trade, while Misrata Free Zone is seeking investment at an upcoming Libyan-Italian business forum.

Oil & Supply: The NOC says an unauthorized shutdown at a pipeline receiving station has blocked crude from the Hamada and Tahara fields, with armed men preventing repairs. Brent rose to $116.72 a barrel as supply risks mounted. Maritime & Energy: Prime Minister Abdulhamid Dbeibah says Libya is ready to address Egypt’s concerns over the newly ratified maritime agreement with Türkiye, which could shape future offshore energy exploration. Diversification: UNDP is helping develop Libya’s first Blue Economy Strategy, covering fisheries, coastal tourism, marine energy and transport, with adoption targeted for early 2027. Investment: Misrata Free Zone will host a Libyan-Italian business forum on 1–2 November to promote partnerships in trade, industry, logistics and energy. Finance: The Central Bank faces renewed uncertainty after its governor’s departure and a raid on its headquarters.

Oil and Supply: Brent climbed to a six-month high of $116.72 a barrel as attacks in Saudi Arabia heightened supply fears. Libya also faced disruption after an unauthorized pipeline closure cut production at the Hamada and Tahara fields, which together produce about 90,000 barrels a day. Central Bank: Faouzi Aboukhzam has taken over as interim governor amid a contested leadership transition. UNSMIL warned that the Central Bank’s independence and unified operations are vital to financial stability and confidence among international partners. Energy and Investment: Libya’s eastern parliament ratified the maritime deal with Türkiye, sharpening disputes with Egypt, Greece and the EU over maritime claims and potential energy exploration. Business Links: Misrata Free Zone will host a Libyan-Italian investment forum on November 1–2, targeting partnerships in trade, industry, logistics and energy. OMV, TotalEnergies, BP and Repsol have also signed on as major sponsors of the 2027 Libya Energy & Economic Summit.

Oil & Production: Brent settled at $116.72 a barrel, near a six-month high, as attacks on Saudi energy infrastructure raised supply fears. Libya faces its own disruption: a shut pipeline valve cut output at the Hamada and Tahara fields. Central Bank: A disputed change in the bank’s leadership and a raid on its Tripoli headquarters have raised concerns about its independence. UNSMIL says protecting the bank’s integrity is vital to financial stability and public resources. Energy Investment: Eni’s Bouri associated-gas project is nearing start-up, while NOC and Zallaf reviewed plans for a southern refinery aimed at 2027. Trade & Business: Libya signed an agreement to facilitate trade with Indonesia and is seeking to expand grain and meat exports to Kazakhstan. Benghazi’s international fair has also reopened after a 20-year absence.

Banking: Libya’s central bank says services are continuing after unidentified individuals raided its Tripoli headquarters, hours after parliament accepted Governor Naji Issa’s resignation in principle and appointed Fawzi Abukhzam as acting chief. Oil & Gas: A shut pipeline valve has cut output from the Hamada and Tahara fields, while Brent climbed above $114 a barrel amid wider supply fears. Food & Trade: Flour prices fell from LD380 to below LD325 per quintal through direct mill-to-bakery sales, though bakeries reported no drop in bread prices. Kazakhstan is also exploring increased grain and meat exports to Libya. Business Links: Libya and Indonesia signed an agreement to facilitate trade, while Libyan and Greek business representatives are planning a forum and company visits. Benghazi’s international fair has reopened after 20 years. Energy Outlook: Libya’s ratification of a maritime deal with Türkiye has prompted Greece and Egypt to discuss extending their maritime zone, raising fresh questions around eastern Mediterranean energy development.

Oil and Production: Brent held near $113 a barrel after Houthi attacks on Saudi Arabia drove prices to a five-month high. In Libya, a valve shut on a pipeline near Zawiya cut output at the Hamada and Tahara fields, prompting the NOC to call for its reopening. Central Bank Turmoil: Libya’s eastern parliament provisionally accepted Governor Naji Issa’s resignation and named Fawzi Abukhzam interim chief, but western authorities contested the move. The bank also reported a raid on its Tripoli headquarters, adding to uncertainty over financial leadership. Trade: Kazakhstan is seeking to expand grain, beef and lamb exports to Libya, with officials discussing supply chains and direct business links. Economic Policy: House officials discussed reducing public spending, diversifying revenue and reviewing the dinar’s exchange rate; no rate change was decided. Energy Investment: OPEC Secretary General Haitham Al Ghais is due at the Libya Energy & Economic Summit in Tripoli in January, as Libya seeks investment to raise oil production.

Oil Output: A shut pipeline valve has cut production at Libya’s Hamada and Tahara fields, the NOC said Thursday, warning losses will grow unless the site is secured and operations resume. Libya produces about 1.4 million barrels a day, with oil providing most state revenue. Energy Investment: The NOC is promoting AI and automation to improve oilfield operations and reach a two-million-barrel daily production target. Eni’s Bouri gas-utilisation project is also nearing startup, aiming to recover associated gas and reduce emissions. Maritime Deal: Eastern Libya’s parliament has approved the 2019 agreement with Türkiye, opening potential cooperation on offshore resources but drawing rejection from the EU, Greece and Egypt and adding uncertainty for exploration. Public Finance: Armed men attempted to force their way into the Tripoli Audit Bureau, prompting it to suspend work and raising fresh concerns over the safety and independence of a key public-funds watchdog.

Maritime Energy: Libya’s eastern parliament ratified the 2019 Turkey deal, opening the way for joint exploration of potentially gas-rich waters. Greece, the EU and Egypt reject the pact, adding uncertainty around future offshore investment. Gas Production: Eni and Libya’s NOC completed the Bouri gas project, now entering start-up. It could supply 700 million cubic metres a year for domestic power and exports to Europe. Oilfield Technology: AGOCO and SLB plan to deepen work on digital tools to improve efficiency and productivity, as Libya pursues higher oil output. Business Ties: Libyan and German chambers discussed stronger trade links, private-sector support and investment opportunities. Public Finance: Armed men tried to force their way into the Audit Bureau in Tripoli over a disputed appointment, prompting a UN warning that intimidation threatens oversight of public funds.