A Review of the Nigerian Energy Industry

Libyan rebels to end blockade

Libyan rebels fighters02 April 2014, News Wires – Rebels in Libya are set to end a blockade of vital oil ports within the coming days, a senior leader told Reuters.

The rebel group has reached an agreement with the government, potentially foreshadowing the end to an eight-month conflict that has dried up state income.

Reuters reported there was no immediate comment from the Tripoli government which has been trying to end the blockage of the three eastern ports, which accounted for 600,000 barrels per day of oil exports.

The government recently ousted former Prime Minister Ali Zeidan over a mismanaged confrontation with rebels.

Earlier this year, a vessel carrying Libyan oil was stolen from an oil port.

The North Korean-flagged Morning Glory, reportedly owned by Saudi interests, sailed away with $30 million worth of Libyan oil, despite Zeidan’s initial threat to bomb the tanker and subsequent claim to have established “complete control” over the vessel.

Talks with the eastern rebels have moved forward since the conflict.

According to Reuters, self-declared prime minister of the rebel group Abb-Rabbo al-Barassi said the oil port issue would be solved within days.

“We agreed on all issues with the government in Tripoli,” he reportedly said.

Despite the ongoing conflict, Libya managed to export 100,000 barrels of oil per day in March.
*Bianca Bartucciotto – Upstreamonline

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