Libya’s NOC discusses Sharara oil field crisis with Repsol

A general view of the El-Sharara oilfield, Libya December 3, 2014. (Reuters)
Updated 09 February 2019
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Libya’s NOC discusses Sharara oil field crisis with Repsol

  • Oil production in Libya has been disrupted since the armed uprising that toppled Muammar Qaddafi in 2011.
  • Protesters and tribesmen halted production at the Repsol-operated field

DUBAI: Libya’s state-run National Oil Corp. said on Saturday that its Chairman Mustafa Sanalla had discussed a crisis at the Sharara oil field with Repsol executives in Tripoli.
“Both parties called for a cessation of hostilities and armed conflict in and around the facility, essential to resume production operations,” it said of Thursday’s talks.
The North African nation’s biggest field is a focus of the conflict between the Tripoli-based internationally recognized government and a rival administration based in eastern Libya.
Protesters and tribesmen halted production at the Repsol-operated field, located in southern Libya, in December. The eastern-based government dispatched a force to seize the field on Wednesday.
Oil production in Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), has been disrupted since the armed uprising that toppled Muammar Qaddafi in 2011.


Filipino remittances from the Middle East down 15.3% in 2018

Updated 12 min 59 sec ago
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Filipino remittances from the Middle East down 15.3% in 2018

  • Cash remittances from OFWs in Saudi Arabia fell 11.1 percent last year to $2.23 billion from $2.51 billion previously
  • Personal remittances are a major driver of domestic consumption

DUBAI: Money sent home by overseas Filipino workers (OFWs) in the Middle East went down 15.3 percent to $6.62 billion in 2018 from $7.81 billion a year earlier, latest government data shows.
Lower crude prices, which affected most OFW host countries in the region, the job nationalization schemes of Gulf states and a deployment ban last year of household service workers to Kuwait were the primary reasons for the decline, a reversal from the 3.4 percent remittance growth recorded in 2017.
A government study has noted that Saudi Arabia was the leading country of destination for OFWs, with more than a quarter of Filipinos being deployed there at any given time, together with the United Arab Emirates (15.3 percent), Kuwait (6.7 percent) and Qatar (5.5 percent).
Cash remittances from OFWs in Saudi Arabia fell 11.1 percent last year to $2.23 billion from $2.51 billion a year before; down 19.9 percent to $2.03 billion in the UAE from $2.54 billion in 2017; 14.5 percent lower in Kuwait to $689.61 million from $806.48 million and 9.2 percent down in Qatar to $1 billion in 2018, from $1.1 billion a year earlier.
The Philippine government issued a deployment ban for Kuwait early last year, and lasted for five months, after a string of reported deaths and abuses on Filipino workers in the Gulf state.
OFW remittances from Oman, which implemented a job nationalization program like that of Saudi Arabia and the UAE, dove 33.8 percent to $228.74 million in 2018 from $345.41 million a year before. In Bahrain, cash sent by Filipinos rose 2.2 percent to $234.14 million last year from $229.02 million previously.
Meanwhile, overall OFW remittances grew 3 percent year-on-year to $32.2 billion, the highest annual level to date.
“The growth in personal remittances during the year was driven by remittance inflows from land-based OFs with work contracts of one year or more and remittances from both sea-based and land-based OFs with work contracts of less than one year,” the Philippine central monetary authority said.
Personal remittances are a major driver of domestic consumption and in 2018 accounted for 9.7 percent of the Philippines’ gross domestic product.