Simplex Projects gets nod for housing units in Libya. Libya plans to list first Islamic real estate fund by March - LibyaBusiness.tv. State-run National Oil Corp. lifted force majeure on the Hariga terminal yesterday, according to a statement on its website. Vienna-based oil company OMV AG provisionally booked a tanker to load as much as a million barrels of oil from the port next week, according to two traders with knowledge of the matter. Hariga has oil in storage ready to export, according to the oil ministry. Brent crude, a benchmark of half the world’s oil, has fallen about 3 percent this year amid speculation that Libya would restart shipments. The possible return of supply is weighing on prices, said Seth Kleinman, Citigroup Inc.’s London-based head of energy research, after the rebels agreed to surrender the Hariga and Zueitina terminals this week. “The government is free to start exports from the two ports,” said Ali Al-Hasy, a spokesman for the self-declared Executive Office for Barqa that seeks self-rule for the eastern region.
“We delivered our part of the deal, we handed over the two ports,” said Al-Hasy. 30,000 New Houses in 2013. Posted on 14 January 2014. Tags: Housing The Minister of Housing and Utilities, Ali Sherief, has said that 30,000 housing units with 131 contracts for infrastructure had been activated last year, some of which are completion projects and some newly activated. Through a central committee his department had reviewed over 40,000 housing units totaling in value LD 1.88 billion ($1.5 billion), adding “we have achieved more than 50 percent“. For urgent water supply needs the Ministry has signed 54 contracts for a value of LD 58 million across all the country. (Source: Libya Herald) القطاع العقاري الليبي ما بعد الثورة
Egyptian Firm Considers $120m Libyan Housing Projects. Posted on 07 December 2012. Tags: Egypt, El-Mahmoudia, Housing One of the leading Egyptian construction companies, El-Mahmoudia General Contracting and Real Estate Investments, says it is currently looking at seven housing projects in Libya worth an estimated $120 million. Saying that the company had decided to focus on Libyan and Sudanese markets, Osama Battah, a member of the company’s board in charge of technical affairs, told Egypt’s Al Mal that it was looking to increase its business activities abroad to compensate for the decline in the local market. The company estimates the Libyan construction market to be worth over $70 billion. (Source: Libya Herald) Three Towers to be Built in Benghazi. HIB Restarts 3 Infrastructure Projects Worth $880m. Posted on 05 December 2012. Tags: Housing, Housing and Infrastructure Board (HIB) Libya’s Housing and Infrastructure Board (HIB) has signed contracts with a number of foreign companies to immediately resume three infrastructure projects in Tripoli.
Ali Ferjani, head of the HIB’s Tripoli office, told Libya Herald that the unnamed foreign companies involved in the projects had dropped demands for compensation for losses incurred during last year’s revolution. The three projects, in Tajoura, Seraj and Hadba Al-Khadra, are said to be worth an estimated LD 1.1 billion ($880 million). All three are for infrastructure; no house building has been restarted so far. The board says the total value of housing construction throughout the country is LD 45 billion, a figure higher than estimated by others in the sector. Ferjani said that funds were available and the invoices would be cleared in a normal way after the signing of the contracts. (Source: Libya Herald) Libya in need of 900,000 new homes, says ministry - LibyaBusiness.tv.
The firms bought about a quarter of the crude sold by governments of the 10-largest oil producing countries from 2011 to 2013, according to the report. The payments equal about 12 percent of the African governments’ total revenues, said the NGOs, who seek to promote disclosure by commodity companies. “Opacity and secrecy is the condition to facilitate corruption,” said Marc Gueniat, a researcher at the Berne Declaration who was one of the authors of “Big Spenders: Swiss Trading Companies, African Oil and the Risks of Opacity.” The report, also authored by the Natural Resource Governance Institute and Swissaid, covers firms based in Switzerland or that have major operations in the Alpine nation and calls on traders and government to release details of deals.
Largest Buyers Swiss trading companies were the largest buyers of oil from the governments of Cameroon, Chad, Equatorial Guinea, Gabon and Nigeria in the three years, according to the NGOs’ study. Libyan Rebels. Libya | Maghreb Watch. Medco Energi Establishes JOC for Libya Ops. Indonesia’s PT Medco Energi Internasional, through its subsidiary Medco International Ventures Ltd. has officially established a joint operating company (JOC) in Libya. The JOC is with partners NOC and the Libyan Investment Authority (LIA). The JOC is named Nafusah Oil Operations. MedcoEnergi will own an interest of 24.5%, while NOC and LIA will own interest of 51% and 24.5% respectively of the JOC.
The establishment of the LIA follows its successful exploration program on Area 47. Additionally, the Management Committee (MC) that oversees both Medco International Ventures Ltd. as the operator of the exploration/appraisal phase and Nafusah Oil Operations as the operator of the development/production phase has obtained new members. The production from Libya Area 47 is envisaged to start in 2016 with an ultimate production plateau of 50,000 bpd of oil. Source: libyaninvestment.com Subex Enters Libyan Market Jamal Hegag, Chairman, Almadar said: