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British Arab Commercial Bank announces major appointments

British Arab Commercial Bank announces major appointments
tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.

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Libya to increase oil production to 1.5 million by year end, needs LD 7 billion budget – delayed 2021 budget will hinder development

By Sami Zaptia.
Oil Minister Mohamed Aoun says oil production will increase but the NOC needs an increased budget (Photo: GNU).
London, 3 June 2021:
Libya’s Oil Minister Mohamed Aoun said Libya’s oil production before the 2011 revolution had reached an estimated at 1.7 million barrels per day (bpd), and that the National Oil Corporation (NOC) plans to reach 1.5 bpd by the end of this year.
NOC revenue will be released to CBL as normal after unified government
He said the agreement to withhold oil revenues from the outgoing government in the NOC’s Libyan Foreign Bank was between the then conflicting parties and to try to speed up the arrival of a unified government, which is what happened, but now the system will return to how it used to be after the unified government was approved. ....

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Libya state oil firm reopens key export terminal after spat with central bank |

Libya state oil firm reopens key export terminal after spat with central bank
The NOC had warned that funds previously received represented “less than two percent” of what was needed by the company and its subsidiaries for this year.
Wednesday 28/04/2021
The building housing Libya’s oil state energy firm, the National Oil Corporation (NOC) in Tripoli, Libya. (REUTERS)
TRIPOLI - Libya’s state oil firm is reopening a key export terminal, a week after suspending operations over the central bank’s “refusal” to release funds for the vital sector.
The National Oil Corporation (NOC) “announces the immediate lifting of the state of force majeure at the Hariga terminal and will instruct operators to restart production and exports”, it said in a statement on Monday. ....

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GTR Best Deals 2021 | Global Trade Review (GTR)

Deal name: Beitbridge border post
Borrower: Zimborders
Mandated lead arrangers: Absa, Nedbank, RMB, Standard Bank
Lenders: Absa, Afreximbank, Emerging Africa infrastructure Fund, Nedbank, RMB, Standard Bank
Insurers/ECAs: Afreximbank, ECIC
Tenor: 11 years (senior debt), 12 years (mezzanine debt)
Date signed: November 2020

Beitbridge border post, a crossing that connects Zimbabwe and South Africa, is known for its ageing infrastructure that acts as a chokepoint for the movement of goods and people.
Delays at the post are common; truckers carrying goods can wait as long as five days to cross the border, states RMB in its deal submission.
Upgrading the crossing is paramount to ensuring a more efficient trading system in Southern Africa because the border post is “not only the gateway to Zimbabwe but also to Zambia, Malawi and the DRC [Democratic Republic of the Congo]”, says the bank. ....

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Libya's March record oil revenues tip US$ 2 billion mark, NOC transfers US$ to government account

London, 16 April 2021:
Libya’s state National Oil Corporation (NOC) announced yesterday that its March oil revenues reached a record US$ 2,052,178,786.17.
It attributed the increase of March sales to the fact that revenues for February reflected 28 days in the calendar, while the collection of the dues of the exported shipments takes place within thirty days, which gave an increase in the revenues of March compared to February.
NOC transfers from its Libyan Foreign Bank account US$ 2 bn to government account
The NOC also confirmed that it had transferred US$ 2 bn to the sovereign’s account of which US$ 1,498,632,437,86 were from the revenues of the month of March, according to the instructions of Prime Minister Abd Alhamid Aldabaiba. ....

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