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FINANCIAL NEWS
Libya to sell 2m barrels of oil to Egypt
21 Dec 2015
(MENAFN) The state oil company of Libya’s eastern government has closed an agreement to sell 2 million barrels of crude to Egypt, according to reports.
The eastern government has for months been trying to sell oil of its own without passing through the control of the central bank in the west of the nation.
Nowadays, Libya has 2 rival governments, each operating separate national oil corporations (NOCs), thus making confusion over the control of oil assets.
Meanwhile, representatives from Libya’s fighting parties inked a deal overseen by the UN to form a national unity government, hoping to bring stability.
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