Libya is an Arab state in northern Africa. Its capital is Tripoli. It is a member of the UN and OPEC. The political and economic situation in Libya has been unstable since the overthrow and murder of its leader Muammar Gaddafi.
The opposing parties in the Libyan conflict signed a deal on Friday for a permanent nationwide ceasefire, the UN said, adding that the move could become a turning point towards stability in the country.
Libya’s warring factions have signed off on a plan to open the country’s land and sea routes, amid ongoing negotiations backed by the United Nations. The breakthrough could be the first step towards securing a ceasefire.
Libya’s National Oil Corporation (NOC) has announced it is ending force majeure on the Sharara oilfield, the nation’s largest deposit, marking another milestone for the recovery of the country’s oil production.
Khalifa Haftar said on Friday his forces would lift an eight-month blockade in Libya and let oil production resume as their rivals in Tripoli want a committee to be formed to ensure fair distribution of revenues.