Friday, October 31, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Libya’s AGOCO Suspends Works Due to Debts

August 27, 2021
Share on FacebookShare on Twitter

The management committee of the Arabian Gulf Oil Company (AGOCO) announced on Thursday that the company was unable to continue its activities and carry out its work without the necessary funds.

In a statement, it added that the company was conducting business without the budgets of 2020 and 2021, and has been unable to carry out work despite continuous promises that it will be provided with the appropriate budgets and funds.

Consequently, debts and obligations have accumulated, and AGOCO claimed it was unable to provide the necessary spare parts, equipment, and operational and production requirements. The company added that it has become unable to continue its technical or service obligations
and pay its workers located in the company’s fields and sites.

Therefore, AGOCO said that it “will not be able to continue to operate without the availability of budgets and funds to run its business, and it will be forced to suspend all activities and works unless it is provided with the funds necessary to operate production.”

Tags: AGOCOlibyaoilOil Production
Next Post

Al-Mangoush Confirms Libya's Commitment to Tunisia's Security

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

IOM: Libya Hosts 867,000 Migrants with 19% Rise in 2025

UN Announces Establishment of Joint Border Security Centre in Benghazi

Foreign Ministry Orders MSF to Leave Libya

Italy Reaffirms Crucial Role of Libya in Curbing Irregular Migration

Migration from Libya to Greece Surges by 318%

IOM Libya Reports Record 22,500 Migrants Intercepted at Sea in 2025

EDITOR PICKS

Libya Discovers Ancient Structure Dating Back Over 2,000 Years

Libya Plans Unified Digital Platform for Chambers of Commerce

Libya Launches Largest National Child Survey With UNICEF & EU

Martin Reynolds Presents Credentials as New UK Ambassador to Libya

Libyan Government Backs National Reconciliation Through Peace Initiative

Libya Confirms New Oil & Gas Discovery in Sirte Basin

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR