Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Libya to move companies to Benghazi

06 June 2013, 10:34

Tripoli - Libya said on Wednesday the headquarters of three more state firms as well as the state energy corporation would move from Tripoli to the eastern city of Benghazi, in a measure intended to devolve more authority to the oil-rich region.

A decree published on the government's Facebook page confirmed that new head offices of Libyan Airlines, the Libyan Insurance Company and the National Investment Company, as well as the Tripoli-based National Oil Corporation (NOC), would be built in Benghazi.

Prime Minister Ali Zeidan said last week the NOC headquarters would move to Benghazi.

The NOC has faced calls since the end of the 2011 war that ousted Muammar Gaddafi to move more of its operation to the eastern region, which accounts for around 80% of Libya's oil wealth.

"The transfer of the NOC to Benghazi does not mean that all departments in Tripoli will be closed. This organisation works for all Libya and it will have branches in different cities," Zeidan told a news conference on Wednesday.

"The decision to move the NOC was not taken as a result of pressure by any group. I have long believed that given Libya's size, if state organisations and bodies are not spread across the country, the country will not stabilise."

Officials have talked for months about restructuring the NOC. Oil is Libya's economic lifeline and the OPEC member pumps around 1.6 million barrels per day.

Wednesday's decree said it was now up to the oil ministry to take necessary measures to implement the decision.

The wrangling over how to split the NOC has added to discontent in Benghazi and the east, which was starved of cash under Gaddafi, and fuelled calls for more autonomy.

On Saturday, the leader of a political group in the province declared it a self-governing region, evidence of growing pressure for a new constitution to adopt a federal structure.

The move east may be a worry for foreign companies for security reasons. Benghazi is awash with weapons and has become a no-go area for foreigners since September's deadly attack on the US diplomatic mission.

Some activists feared the transfer plan could overturned by force.

"I hope that everyone in Tripoli will respect the decision and won't try to disrupt the process," one Benghazi activist, Kais el-Bakshishi, said.

- Reuters


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Wilson Ochieng
ODM beats Jubilee in 3 by-electio...

ODM dominates Jubilee Party in by elections.

Submitted by
Wilson Ochieng
Kenyan ivory seized in Vietnam

Vietnamese authorities have seized 1 tonne of ivory smuggled from Kenya, the fifth such seizure in the past month. Read more...

Submitted by
Cyril Mike Odhiz
Kenyans furious on young lady aft...

A young Kenyan woman is the talk of town after she posted a photo with her elderly lover after a round of steamy sex, or so the photo suggested.  Read more...

Submitted by
Kiplangat langat
Uhuru could be a one term Presid...

Bomet governor Isaac Ruto has said that President Uhuru Kenyatta could be a one term President if he fails to increase allocations to the counties. Read more...

Submitted by
Mody Sammy
35 year old farmer a new milliona...

A 35 year old farmer from Mpeketoni Lamu county has become the latest millionaire in town as she became winner in the ongoing ‘Shinda Mamili na Story Ibambe’. Read more...

Submitted by
Shakila Alivitsa
Leave your past relationship bagg...

Leave your past relationship baggage at the door when you start a new relationship. Read more...