Egypt posts record EGP629b primary surplus in 2024/25    EGP swings vs. USD in early Sunday trade    EGX launches 1st phone app    Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Libyan oil firm NOC to work with new unity govt
Published in Amwal Al Ghad on 03 - 04 - 2016

Libya's National Oil Corporation said on Saturday it was working with the U.N.-backed unity government, which arrived in Tripoli this week, to coordinate future oil sales and "put a period of divisions and rivalry behind us".
NOC Chairman Mustafa Sanalla also welcomed the U.N. Security Council's renewal on Thursday of measures to prevent illicit oil exports from Libya, a reference to efforts by Libya's eastern government to sell oil independently.
"Combined with the recent announcement by the Petroleum Facilities Guard (PFG) that it intends to reopen export ports it has been blockading, I hope NOC and the country's oil resources can provide a solid platform on which the country's recovery can be built," Sanalla said in a statement.
The new government received the endorsement of the PFG, a semi-official armed faction that controls key oil installations in the east, some of which it has shut down amid political disputes.
Libya descended into political turmoil and armed conflict following an uprising that toppled long-time strongman Muammar Gaddafi in 2011, with two pairs of rival parliament and governments operating in Tripoli and the country's east.
Its oil production has been slashed by rivalry between armed factions, attacks by Islamic State militants and labor disputes, falling to less than a quarter of the 1.6 million barrels per day produced before the uprising.
Hours after Sanalla's statement, two guards were killed in an attack on Bayda field, about 250 km (155 miles) south of the major oil terminals of Es Sider and Ras Lanuf, a guards spokesman said.
Militants loyal to Islamic State have carried out repeated attacks in the area, but have not taken control of any oil facilities, and spokesman Ali al-Hassi said Saturday's attack had been repelled.
The unity government emerged from a U.N.-mediated deal signed in December that has faced continuing opposition from hardliners inside Libya.
Its leaders traveled to Tripoli on Wednesday and have been operating out of a heavily secured naval base in the capital as they seek to gain control of government ministries and financial institutions.
PFG spokesman Ali al-Hassi said on Thursday that the guard was prepared to reopen eastern oil terminals at Zuetina, Es Sider, and Ras Lanuf, though he could not say when this might happen.
The latter two ports have been repeatedly attacked and damaged by Islamic State.
Libya's eastern government issued a statement on Saturday saying that if any ports were reopened, oil should only be exported with the approval of a parallel NOC that it has tried to set up in Benghazi.
The parallel NOC's efforts to export oil have so far been unsuccessful, with major oil trading firms and the international community continuing to support the NOC in Tripoli.
However, boosting Libya's oil sales with the support of the east will be a challenge for the new government. It has so far failed to win approval from the parliament in the east, as required by the U.N.-mediated deal, and the eastern government has indicated that it opposes any transfer of power unless such a vote is obtained.
The U.N. Security Council issued a resolution on Thursday stating that the unity government had the "primary responsibility" for preventing illicit oil sales, urging it to communicate any such attempts to the U.N. committee overseeing Libya-related sanctions.
The resolution also restated a call for member states to cease contact with any "parallel institutions".
Source: Reuters


Clic here to read the story from its source.