Clashes near Libya’s El-Feel oilfield, no damage reported

A view shows El Feel oil field near Murzuq, Libya, July 6, 2017. (File Photo: Reuters)
Updated 27 November 2019
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Clashes near Libya’s El-Feel oilfield, no damage reported

  • Production of the 70,000 barrels per day El Feel oilfield because of airstrikes

BENGHAZI: Rival Libyan forces clashed around the El-Feel 70,000-barrels-per-day (bpd) oilfield on Wednesday but there were no reports of damage or casualties and production was unaffected, the National Oil Corporation (NOC) and a field engineer said.

“We ask combatants to halt operations around the field,” NOC Chairman Mustafa Sanalla said in a statement. “Any escalation in violence may lead to staff being evacuated and production being shut down.”

An engineer at the field said the clashes were between oil facilities guards led by commander Ali Kanna, who is aligned with the internationally recognized government in Tripoli, and forces linked to Khalifa Haftar, a commander based in the east.

Libya’s oil production has been repeatedly disrupted in recent years by conflict and blockades but is currently relatively stable at about 1.25 million bpd.

Libya has been divided since 2014 into rival military and political camps based in Tripoli and the east. Haftar controls most of the country’s oil fields and facilities but oil revenues are controlled by the central bank in Tripoli.

HIGHLIGHT

Libya has been divided since 2014 into rival military and political camps based in Tripoli and the east. Haftar controls most of the country’s oil fields and facilities but oil revenues are controlled by the central bank in Tripoli.

El-Feel is operated by Mellitah Oil and Gas, a joint venture between the NOC and Italy’s Eni. The engineer at the southwestern field said production had not been affected by the clashes and stood at 70,000 barrels per day.

A statement carried on the Facebook page of the military council of the southern city of Sabha said the forces aligned with the Tripoli government had taken control of El-Feel.

Some members of the forces posted videos or photos on social media appearing to show them at the field.

There was no immediate comment from Haftar’s forces, which have controlled El-Feel and the nearby El-Sharara oilfield
since February.

In April, Haftar’s forces launched an offensive to capture Tripoli. The campaign quickly stalled, though fighting between rival forces continues on the outskirts of the capital.


PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

Updated 27 February 2026
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PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.

According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.

Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries. 

The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.

AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.

AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.

Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”

He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”

Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.

AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance. 

Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.