Minister of Economy and Trade Mohamed Al-Hwej outlined Libya’s strategy for energy expansion and economic diversification at the Libya Energy & Economic Summit

TRIPOLI, Libya, January 20, 2025/APO Group/ — 

Libya’s economic growth and energy potential took center stage at the Libya Energy & Economic Summit (LEES) in Tripoli on January 19, as Libya’s Minister of Economy and Trade Mohamed Al-Hwej outlined the country’s goals for energy expansion and economic diversification. 

“There is no economy without energy, and this platform represents a strategy for growth,” said Minister Al-Hwej. He outlined Libya’s untapped hydrocarbon reserves and solar energy potential, reaffirming the country’s commitment to increasing crude oil production to two million barrels per day, while also focusing on downstream development and diversification. “Libya is ready not only to produce crude oil, but also to develop chemical and petroleum products. We aim to be a strategic hub, connecting Europe and Africa,” he added. 

Libya is ready not only to produce crude oil, but also to develop chemical and petroleum products

Following the keynote, a panel discussion on investment strategies, sponsored by Zahaf & Partners Law Firm, explored political stability, regulatory frameworks and incentives to attract investment to Libya’s energy sector. Moderated by Michel Cousins, Editor-in-Chief of Libya Energy, the session underscored Libya’s competitive advantages. 

Echoing the Minister’s remarks, Nicolas Pringault, Vice President and Country Manager for Libya and Algeria at Harbour Energy, emphasized Libya’s robust reserves. “Libya has the highest reserves in Africa, with 48 billion barrels of oil and 1.3 trillion cubic feet of gas. This is very encouraging for IOCs looking to explore,” Pringault noted. 

Despite its abundant natural resources, Dr. Ahmed Ali Attiga, Banker and Senior Advisor – Private Equity, and former CEO of the Arab Petroleum Investments Corporation, identified political division as a persistent barrier to investment. “Stability is essential, but it does not align with a divided country. This is the challenge Libya faces. Investors will come, and money will flow, but first, Libya must put its house in order,” Attiga remarked. 

Azza Maghur, Senior Strategy Advisor at Murzuq Oil Services, cautioned against changes to Libya’s existing legal framework, which she believes is critical to maintaining investor confidence. “Given the situation today, we should stick to the laws we have to maintain stability. The protection we have through arbitration is crucial – I strongly recommend we do not change the legal framework for now, as it ensures investor confidence.” 

Closing the discussion, Mohamed Dikna, Senior Consultant at Zahaf & Partners Law Firm, underscored that Libya (https://apo-opa.co/4g317ZL) already offers strong legal protections to investors. “If you have incentives and invest significant capital, but political unrest occurs, your investment becomes meaningless. However, Libya’s investment laws, including the Value-Added Incentive Tax at 26%, provide strong protection,” said Dikna. 

Distributed by APO Group on behalf of Energy Capital & Power.

The return of President Trump to the White House has been subject to much speculation, with market participants questioning how the incoming Republican administration will approach critical minerals projects in Africa

LONDON, United Kingdom, January 20, 2025/APO Group/ — 

The Critical Minerals Africa Group (CMAG) (www.CMAGAfrica.com), the advocacy group seeking to foster deeper relations between Africa and global markets and put Africa at the heart of international discussions surrounding critical minerals policy, is working closely with its members and partners to help navigate a potential shift in US policy as President Trump takes office today.

The return of President Trump to the White House has been subject to much speculation, with market participants questioning how the incoming Republican administration will approach critical minerals projects in Africa, as well as other crucial areas including aid budgets and the Lobito Corridor.

Olimpia Pilch, Chief Strategy Officer at CMAG, says that “we can potentially expect an increase in critical mineral project funding from the US, but this will depend on several factors, including the rate at which US domestic sources can be unlocked, trends in real-time demand, GDP growth in the US, and the availability of cheap ore from other jurisdictions.”

A greater security focus will throw a spanner in the ambitions of many African nations looking to process and refine more critical minerals on the continent

“The key guiding principle for the incoming Trump administration will be security. Critical minerals projects that feed into US defence supply chains, speciality alloys, and other sectors deemed of national importance will stand a far better chance of accessing US government funding that those falling under a “green” or “energy transition” banner, which were prioritised by the Biden administration,” Pilch says.

“A greater security focus will throw a spanner in the ambitions of many African nations looking to process and refine more critical minerals on the continent. US entities are unlikely to accept the high risk of multi-billion refinery investments in volatile regions that often lack key ingredients for commercial success – cheap and reliable energy, well-maintained infrastructure, skills and expertise, favourable taxation, and stable governments,” she adds. “Given the intensification of US-China competition, regions with overt Chinese influence are also less likely to attract US private sector investment.”

“However, ample opportunities to move further down the value chain will remain, especially when it comes to producing critical mineral concentrates. Relatively more stable nations such as Botswana, Rwanda, Namibia, and Ghana stand to benefit provided their governments are willing to play by the Western rules of deal-making.”

Veronica Bolton Smith, CMAG’s CEO, says “CMAG is working closely with its members to ensure a smooth transition as companies exposed to African critical mineral supply chains seek to determine if and how the new administration will change the picture for the industry.”

“One of CMAG’s key priorities is to bridge the gap between Africa and Western markets with the aim of catalysing value for both sides. We will be working closely with our partners in the US and on the continent to bring about mutually beneficial outcomes under this new administration and beyond.”

Distributed by APO Group on behalf of Critical Minerals Africa Group (CMAG).

Sixth Annual Awards Sponsored by RAK Chamber of Commerce and Industry Recognize Innovation in 18 MENA Nations

FAIRFAX, United States of America, January 20, 2025/APO Group/ — 

Winners in the sixth annual Middle East & North Africa Stevie® Awards (https://StevieAwards.com/MENA), the only awards program to recognize innovation in the workplace throughout 18 nations in the Middle East and North Africa, have been announced. The awards are sponsored by RAK Chamber of Commerce and Industry (https://apo-opa.co/3Ecca5w).  The list of Gold, Silver and Bronze Stevie Award winners is available at http://MENA.StevieAwards.com. 

We look forward to celebrating Stevie winners during our gala event on 22 February in Ras Al Khaimah, United Arab Emirates

The 2025 Middle East & North Africa Stevie Awards have recognized organizations in 14 nations including Algeria, Bahrain, Egypt, Iran, Jordan, Kuwait, Lebanon, Oman, Palestine, Qatar, Saudi Arabia, Tunisia, Türkiye, United Arab Emirates. More than 1,100 nominations in Arabic and English were evaluated in this year’s competition. Winners were determined by the average scores of 118 professionals worldwide (https://apo-opa.co/4hoZEhF), acting as judges on five juries to recognize innovative apps, achievements, entire organizations, public relations, customer service, human resources, individual professionals, live and virtual events, management, sustainability, technology, thought leadership, and more. 

Winners of multiple Gold, Silver, or Bronze Stevie Awards include Abu Dhabi Customs, UAE; Abu Dhabi Fund for Development (ADFD), UAE; ACTION LABS CONSULTANCY, Bahrain; Al Dhafrah Region Municipality, UAE; DHL Express, multiple locations across the region; Ebebek Mağazacılık A.Ş, Türkiye; General Civil Aviation Authority, UAE; Gulf Agency Co. (Dubai)L.L.C/ GAC, UAE; Insan Charitable Society for the Care of Orphans and Their Mothers, Saudi Arabia; Miral Destinations, UAE; Mobile Communications Company of Iran – MCI, Iran; Ooredoo Group, multiple locations across the region; Royal Commission for Jubail & Yanbu, Saudi Arabia; Saudi Aramco, Saudi Arabia; Tata Consultancy Services (TCS), UAE; The Fashion Commission, Saudi Arabia; ZIRA Arabia, Saudi Arabia, among others. 

Stevie winners will be presented their awards at a gala banquet at the Waldorf Astoria Ras Al Khaimah Hotel in the United Arab Emirates on Saturday, 22 February.  Tickets for the event are now on sale (https://apo-opa.co/4g4x8Ra). 

“We are delighted to recognize the achievements of such a diverse group of organizations across the MENA region in the 2025 edition of the Middle East & North Africa Stevie Awards,” said Stevie Awards President Maggie Miller. “We look forward to celebrating Stevie winners during our gala event on 22 February in Ras Al Khaimah, United Arab Emirates. The quality of nominations received this year was exceptional. The program has grown every year, showing the vast amount of innovation in the MENA region.” 

Distributed by APO Group on behalf of Middle East & North Africa Stevie Awards.