Libya has little chance of holding elections this year, the parliament-backed prime minister said, raising the prospect of further uncertainty for the OPEC member’s oil industry at a time when the market is in urgent need of its crude.
Fathi Bashagha, who is engaged in a stand-off over the premiership with Abdul Hamid Dbeibah, predicted the political upheaval would continue throughout 2022, deepening a rift in the North African nation’s fragile institutions.
Without a unified government, “there will be no elections and chaos will continue,” Bashagha told Bloomberg.
The former interior minister, however, downplayed the possibility of a new outbreak of civil war in a country that is trying to emerge from a decade of conflict.
He pledged to hold free and fair presidential and legislative elections as soon as possible.
He also vowed to create the post of chief co-ordinator of elections to fully develop the technical requirements, timelines and necessary steps for elections.
Oil production
More turmoil would worsen a scarcity of Libyan crude after a wave of port and oilfield shutdowns started in April by protesters in a bid to force Mr Dbeibah out. Global crude prices have surged by about 50 per cent this year to $110 a barrel.
Libya's National Oil Corp output has plunged to a daily 100,000-200,000 barrels from as much as 1.3 million last year.
Mr Bashagha said he had no up to date oil production figure, but that his government’s spending blueprint included 34 billion dinars ($7 billion) requested by the corporation to enact a two-year plan to boost output to more than 1.7 million daily barrels.
Control of Libya’s oil wealth has been a major obstacle to stability since the 2011 Nato-backed overthrow of Muammar Qaddafi, with militias and protesters using stoppages to push political demands.
Mr Bashagha and Mr Dbeibah were among those who hoped to stand for president last December in a vote that was called off amid fears of fresh strife.
He said recent oil blockades were “a direct result of the injustice the people living in the oil crescent have been and are still suffering to this day”.
Mr Bashagha said “people in the east” of the divided country were “angry and unsatisfied with the state and as long as justice is not addressed and revenues are not distributed fairly, closures of oil will continue”.
He said that If he took office in Tripoli, he would rotate the government between there and Sirte in a bid to address peoples’ concerns over regional marginalisation.
Politicians who support Mr Bashagha say Mr Dbeibah’s mandate is invalid after the election that did not take place. They chose Mr Bashagha to replace him and in May he tried to enter the capital, Tripoli, only for violence to erupt between rival militias and force his withdrawal.
Mr Bashagha is now setting up in the Mediterranean coastal city of Sirte, evoking memories of the roughly seven-year period from 2014 when Libya was split between rival administrations. He said he was still seeking to govern as premier from Tripoli, but would not run in any future elections.
He said he had no intention of entering Tripoli by force, unless there was a threat of “terrorism”.
Cairo talks fail
The rival factions failed to reach an agreement in a third round of talks in Egypt, the UN said on Monday.
According to UN special adviser on Libya, Stephanie Williams, politicians from the parliament in the east of the country and the High Council of State, in Tripoli, ended talks in Cairo aimed at clearing the way for elections without a breakthrough.
The talks, which stared on June 12, had sought to establish a constitutional framework for elections in Libya, but the two sides failed to agree on “the measures governing the transitional period” leading to the vote, Ms Williams said.
She called on Aguila Saleh, the influential parliament speaker, and Khaled Al Meshri, head of the Tripoli-based council to convene within 10 days to try to bridge the gaps between the two sides.
Libyan media reports claimed that the main contested topic was the criteria for a presidential candidacy.
The Tripoli-based council insisted on banning military personnel from running for the country’s top post — apparently a move directed at commander Khalifa Hifter.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Company Profile
Name: JustClean
Based: Kuwait with offices in other GCC countries
Launch year: 2016
Number of employees: 130
Sector: online laundry service
Funding: $12.9m from Kuwait-based Faith Capital Holding
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
The Bloomberg Billionaire Index in full
1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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$1,000 award for 1,000 days on madrasa portal
Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.
School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.
“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.
“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”
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COMPANY PROFILE
Company name: Letstango.com
Started: June 2013
Founder: Alex Tchablakian
Based: Dubai
Industry: e-commerce
Initial investment: Dh10 million
Investors: Self-funded
Total customers: 300,000 unique customers every month
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
Abu Dhabi Sustainability Week
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Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
Results:
6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)
7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar
7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash
8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe
8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson
9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar
10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash
If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
