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FINANCIAL NEWS
Libya oil exports unstable amid warns against port deal
25 Jul 2016
(MENAFN) Libya’s expectancy to enhance oil exports have been dealt a blow after the head of the National Oil Corporation (NOC) disagreed to ink a deal between the government and local guards to reopen key ports.
In detail, NOC chairman said: “it was a mistake to reward head of the Petroleum Facilities Guard (PFG), for a blockade of the oil ports of Ras Lanuf, Es Sider and Zueitina.”
On the other side, the PFG confirmed on Friday that it would implement an agreement with Libya’s UN-backed Government of National Accord (GNA) to resume work on the ports within days.
It’s worth mentioning that the terms for ending the blockade have not been made public, but an initial payment for salaries for Jathran’s men has been confirmed, sources familiar with the matter say.
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