No Result
View All Result
Sunday, July 13, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

Dinar crashes as oilfields are closed by Petroleum Facilities Guards seeking improved pay

bySami Zaptia
February 25, 2024
Reading Time: 2 mins read
A A
New branch opens for the Petroleum Facility Guards (PFG) in Brega

(Logo: Petroleum Facilities Guards - PFG)

The Libya dinar crashed further in value in the black-market against the major hard currencies as the security forces charged with guarding all of Libya’s oil installations, the Petroleum Facilities Guards (PFG), closed several oilfields pipes and installations.

The dinar broke the LD 8 to the dollar today – the first time it has reached that rate for nearly 10 years. Tripoli government backed security forces entered the main currency black-market forcing its closure. Traders were still able to trade at a lower turnover though through their private WhatsApp pages – driving the price to over LD 8 per dollar.

The PFG had given the Tripoli based Libyan government, headed by Abd Alhamid Aldabaiba, 10 days to implement their demands, which they say are guaranteed by Libyan law. But the government had failed to respond in time.

As a result, they announced the closure of production at the Zawiya refinery and its port, the Mellitah complex and its port and shut off the Green Stream gas pipeline to Italy. This included the shutdown of the Al-Feel and Al-Wafa fields.

They further announced that production will be stopped gradually Al-Sharara, in addition to the Al-Watiya and Nalut pipelines.

RELATED POSTS

NOC says all operations across all offshore and onshore locations are operating as normal

Pre-empting any forced closure: Security is bolstered inside and outside Mellitah complex

The PFG say they are demanding their legitimate rights as prescribed by a court ruling in 2007 – a ruling to which governments have not responded.

They reported that last December, Prime Minister Aldabaiba had promised to meet their demands ‘‘within a short period’’ but failed to act. They say they had warned him that if there was no response, the oil fields would be closed.

Aldabaiba’s offer initially rejected
Late today Aldabaiba has issued a decree linking the PFG pay to a specific military paygrade. However, the PFG have initially rejected it, reminding that they are part of the National Oil Corporation and not of any military entity.

Tags: PFG Petroleum Facilities Guards

Related Posts

Attorney General orders arrests at Jumhouria bank branch for embezzlement
Libya

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

July 11, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba seeking long term partnership not interim solutions on combatting irregular migration

July 10, 2025
Acting Interior Minister Trabelsi taking steps to counter forged ID numbers and passports
Libya

There are 4 million irregular migrants in Libya: Interior Minister Trabelsi

July 10, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba: Militias have become criminal gangs and a state within the state

July 9, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Libyan Russian Economic Forum starts in St. Petersburg
Libya

Libyan Russian Economic Forum starts in St. Petersburg

June 27, 2025
Next Post
NOC announces force majeure at Zawia port

NOC says all operations across all offshore and onshore locations are operating as normal

CBL receives results from meetings with international banks

Concealed spat between Tripoli PM and Central Bank Governor goes public

ADVERTISEMENT

Top Stories

  • Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement

    All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    0 shares
    Share 0 Tweet 0
  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    0 shares
    Share 0 Tweet 0
  • Aldabaiba opens First Phase of Tripoli’s Third Ring Road

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.