Libya Awalan TV joins CNN’s global affiliate network

CNN International has announced that Libya Awalan TV (which translates as ‘Libya First’) is to join its global network of affiliates. The partnership is the first with a private network in Libya and adds to CNN’s global presence, as well as its strength in North Africa.

Libya Awalan TV was founded in March 2011, shortly after the conflict in Libya began, and made its inaugural broadcast a few weeks later on 1 April. It employs more than 200 people and has control rooms in Tripoli and Benghazi, as well as in Cairo. During the Libya conflict, Awalan’s reporters brought detailed reports from across the country, and the station continues to report on Libya’s ongoing recovery in five daily news bulletins and across breaking news.

Deborah Rayner, VP and managing editor at CNN International, said: “Libya Awalan’s bravery and commitment to independent journalism during the conflict in Libya was an example to any news network, and their ongoing commitment to serious reporting is there for all to see. They will be valuable partners to CNN International and we’re delighted to be welcoming them to our affiliate family.”
Hassan Tatanaki, founder and chairman of Libya Awalan TV, added: “CNN is the original 24-hour news channel and a network that continues to set the standard in global news. It has a long-standing presence in and passion for our region, so to become part of its affiliate network is a proud moment for us as a young channel. We hope we can make a strong contribution to CNN’s reporting in a new and free Libya and beyond.” read more

Exclusive- Another Libyan Club Chases Kotoko Striker Seidu Bancey

By Saddick Adams

Ghana league top scorer Asante Kotoko could be on his way out the club at the end of the season after top Libyan outfit Al Ahli SC of Benghazi offered a mouth-watering offer for the hitman, Ghanasportsonline.com can exclusively reveal.

The striker's contract, Ghanasportsonline.com understands has a year left and the Asante Kotoko chiefs are quietly confident of him signing a new deal but the offer will obviously deril their plans.
Bancey has been watched by the Benghazi-based side for months and they lodged a fresh inquiry this week, according to reports.

Al Ahli Benghazi, owned by Libyan Billionaire business mogul and philantrophist Hassan Tatanaki have made the ex Edubiase marksaman their first-choice target to strengthen their attack at the resumption of the Libyan league.

The Ghanaian giants have just crashed out of the Champions League to Liberian club Barrack Young Controllers in just the first qualification round and things doesnt seem well financiakky for the club as striker Yahaya Mohammed shockingly signed for Libyan side Al Ittihad Tripoli.
Seidu Bancey tops the First Capital Plus Bank Ghana Premier League with 7 goals in 10 matches.

Venture Capital Bank Acquires Stake in Major Oil Drilling Company

ANAMA, Bahrain, November 21 /PRNewswire/ -- Venture Capital Bank (VC Bank), a Bahrain-based investment bank, along with its partner, the US private equity firm Global Emerging markets (GEM), have acquired a significant stake in the MENA-based oil drilling contractor Challenger Limited. Established in 1991, Challenger currently owns and operates a fleet of 22 rigs in Libya providing drilling and work-over services of oil, gas and water wells, with offices in Egypt, Saudi Arabia and UAE. The acquisition was co-funded by VC Bank and its strategic technical partner GEM illustrating VCBank's non-conventional pursuit to attract North American and European funds and sources of capital to investment opportunities in the MENA region. This significant transaction was completed by a team from VC Bank and GEM, not only strengthening the successful partnership between the two firms, but demonstrating that the region hosts many attractive, yet obscured, investment opportunities represented in privately held companies such as Challenger that operates mainly in Libya.

 The acquisition was co-funded by VC Bank and its strategic technical partner GEM illustrating VCBank's non-conventional pursuit to attract North American and European funds and sources of capital to investment opportunities in the MENA region. This significant transaction was completed by a team from VC Bank and GEM, not only strengthening the successful partnership between the two firms, but demonstrating that the region hosts many attractive, yet obscured, investment opportunities represented in privately held companies such as Challenger that operates mainly in Libya.continue reading

$25b needed to boost crude output

Tripoli: Libya's oil industry will need at least $25 billion (Dh91.8 billion) in investment to increase its oil production to two million barrels a day, said the chairman of drilling-rig operator Challenger Ltd.

"Fields need to be developed, others redeveloped," Hassan Tatanaki said in a telephone interview on Friday. "The Libyan oil industry needs a lot of revamping. We have to reinvest to be able to get the proper cost effective amount into the industry in terms of the country's production level."

The armed conflict in Libya, holder of Africa's largest proven reserves, has reduced the nation's output to 100,000 barrels a day in July from the 1.6 million barrels pumped before the uprising started in February. A full recovery of production may take as long as three years, according to analysts' estimates.

Tatanaki, 53, said he intends to play a role in rebuilding Libya's oil industry, of which Challenger's 35 rigs across the country "are the core".

His Libya Al Hurra charity, set up shortly after the unrest began, has been providing humanitarian aid and relief to refugees and those displaced by the conflict in Libya operating out of Egypt, Tunisia, Libya and the US.

"We're not just concentrating on just medical and food supplies," Tatanaki said. "We also want to play a part in other ways so that in the next year or so we have a proper constitution, transparency that helps create a democracy."

Forces loyal to Muammar Gaddafi continued to battle revolutionaries in the Libyan capital Tripoli, as the opposition National Transitional Council said the North African nation's humanitarian aid needs are "urgent".

Rebel leaders worked to retrieve assets frozen by the United Nations and individual countries in an effort to obtain funding for food, and humanitarian and medical needs, transitional council Chairman Mustafa Abdul Jalil said at a press conference in Benghazi on Friday.

Since fighting began in Libya, the number of people killed has "exceeded 20,000", Abdul Jalil said. read more

Libya Needs $25 Billion in Investments for Oil Production, Challenger Says

Libya’s oil industry will need at least $25 billion in investment to increase its oil production to 2 million barrels a day, the chairman of drilling-rig operator Challenger Ltd. said.

“Fields need to be developed, others redeveloped,” Hassan Tatanaki said in a telephone interview today. “The Libyan oil industry needs a lot of revamping. We have to reinvest to be able to get the proper cost effective amount into the industry in terms of the country’s production level.”
The armed conflict in Libya, holder of Africa’s largest proven reserves, has reduced the nation’s output to 100,000 barrels a day in July from the 1.6 million barrels pumped before the uprising started in February. A full recovery of production may take as long as three years, according to analyst estimates.

Tatanaki, 53, said he intends to play a role in rebuilding Libya’s oil industry, of which Challenger’s 35 rigs across the country “are the core.” His Libya El Hurra charity, set up shortly after the unrest began, has been providing humanitarian aid and relief to refugees and those displaced by the conflict in Libya operating out of Egypt, Tunisia, Libya and the U.S.

“We’re not just concentrating on just medical and food supplies,” Tatanaki said. “We also want to play a part in other ways so that in the next year or so we have a proper constitution, transparency that helps create a democracy.”

Forces loyal to Muammar Qaddafi continued to battle rebels in the Libyan capital, Tripoli, as the opposition National Transitional Council said the North African nation’s humanitarian aid needs are “urgent.” read more

Challenger Limited announces the closing of a major international partnership deal

Challenger Limited announced today that it has reached a definitive agreement with Bronco Drilling Company, Inc. whereby Bronco acquires a significant stake in Challenger Limited in return for a combination of in-kind and cash contributions from Bronco. The Challenger shares acquired by Bronco are all newly-issued and will amount to 25% of Challenger's total issued and outstanding shares on fully diluted basis.

Bronco's in-kind contribution consists of six, different-capacity, land drilling rigs and ancillary equipment. Five of the contributed drilling rigs come from Bronco's existing marketed fleet and one rig is newly constructed by Bronco for the purpose of this transaction. This major partnership deal between Challenger and Bronco comes only one year after Venture Capital Bank (VC Bank), a Bahrain-based Islamic investment bank, and its partner, the US private equity firm Global Emerging Markets (GEM), made a sizable private equity investment in the MENA-based oil drilling contractor.

Challenger Limited is a company incorporated and organized under the laws of the Isle of Man, with branch offices in Libya, Egypt, and UAE, and a subsidiary company in Saudi Arabia. Challenger Limited currently owns and operates a premium fleet of 23, different-capacity, land drilling and work-over rigs, which at the moment, are all contracted for operations in Libya.

Challenger Limited, a prominent provider of contract oil, gas and water land drilling and work-over services, has over 15 years experience in providing services to major and independent oil and gas companies. Over that period of time, Challenger Limited has been operating in; Libya, Egypt, Tanzania, Gabon, and the Republic of Niger. The company has a strong client base, including nearly all state-owned and major oil companies in Libya, as well as International players such as Agip/Eni, Total, Marathon, IPL, Veba and Verenex Energy.

Mr. Hassan Tatanaki, Chairman of Challenger Limited, declared that " In view of the vast opportunities of high growth in the MENA region, we along with our partners have decided to go into partnership with one of the best-regarded companies in the oil drilling industry; namely Bronco Drilling Company. This partnership will energize and undoubtedly increase our capacity to expand Challenger activities in both scope and scale. This was based on our full confidence and faith in the investment model and general direction". Mr. Tatanaki said that "This transaction shows that the growing cooperation amongst Libya, the U.S., and the Middle East, is creating an attractive investment environment for U.S. and International companies". read more

Al-Azhar plans satellite television channel about Islam

The channel will be broadcast on both main satellite channels operating in Egypt and will be accessible worldwide. It will initially transmit in Arabic with some English and French programming and there are plans to add content later in Urdu and Turkish. Azhari received its initial 15 million Egyptian pounds funding from a Libyan businessman and philathropist, Hassan Tatanaki.
Guindy told Reuters the plan really got going about a month ago, when he officiated at the wedding of Tatanaki’s daughter. “The father of the bride and I forgot completely about that wedding and started to talk about a new wedding, about how to introduce this new channel to the rest of the world,” he said.

Guindy is hopeful that a new age, which he dubs the Age of Obama, is dawning in which a dialogue between Islam and the West will flourish. And he hopes his channel will play an important role in that conversation. Yet for all his modern touches, Guindy retains a deeply traditional side. He preferred to conduct our interview not in English or everyday modern Arabic, but in precise classical Arabic.

Source:

• http://in.reuters.com/article/2009/05/31/idINIndia-39998720090531
• http://hassantatanaki.blogspot.com/2014/08/al-azhar-plans-satellite-television_26.html