libya’s oil authorities agree to unify ranks
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Libya’s oil authorities agree to unify ranks

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleLibya’s oil authorities agree to unify ranks

Libya’s oil authorities agree to unify ranks
Benghazi - Arab Today

Rival leaders of Libya’s National Oil Corporation have agreed to unify their ranks, in a move expected to strengthen the country’s vital oil industry ravaged by years of conflict, the NOC said.
Oil is Libya’s main natural resource with reserves estimated at 48 billion barrels, the largest in Africa.
But production slumped in the aftermath of the 2011 revolt that ousted dictator Muammar Qaddafi as rival militias battled for control of oil terminals and two rival governments emerged.
The Tripoli-based NOC was also split up by the conflict, with its legitimacy challenged by a rival oil corporation based in the east of the country and key installations coming under attack.
But the two administrations have decided to bury the hatchet and “unify the National Oil Corporation,” the NOC said in a statement late Saturday.
It said NOC chairman Mustafa Sanalla would retain his post while Nagi El-Maghrabi, his counterpart appointed by the Libyan unity government’s rivals in eastern Libya would become a member of the board.
The company also agreed to relocate its headquarters to the eastern city of Benghazi.
“This agreement will send a very strong signal to the Libyan people and to the international community” that the presidency council of the Government of National Accord (GNA) “is able to deliver consensus and reconciliation,” Sanalla said in the NOC statement.
“I’m sure it will now build on this success to bring unity and stability to other government institutions,” he added.

The Tripoli-based GNA was the result of a UN-brokered power-sharing agreement deal struck in December but the unity government has yet to receive a vote of confidence from the country’s elected parliament.
“There is only one NOC, and it serves all Libyans,” Sanalla was quoted as saying.
Maghrabi agreed saying: “We made a strategic choice to put our divisions behind us and to unify and integrate NOC... There is no other way forward. This is for the good of Libya.”
Libya had an output capacity of about 1.5 million barrels per day before the 2011 revolt, accounting for more than 95 percent of exports and 75 percent of the budget.
In May, NOC sources said that oil production had started to recover from the post-revolution slump to pass the 300,000 bpd mark.
Rebuilding the energy sector in Libya is a top priority of the new unity government.

Source: Arab News

themuslimchronicle
themuslimchronicle

GMT 12:49 2018 Tuesday ,16 January

Tabarak Buys Majority Stake in a Private Company

GMT 16:01 2017 Tuesday ,19 December

BCCI board elections date set

GMT 08:05 2017 Sunday ,17 December

Malaysian Premier praises EDB

GMT 09:58 2017 Saturday ,16 December

Saudi Arabia launches new SR30bn export bank

GMT 08:30 2017 Saturday ,09 December

World Bank signs $1.15 billion loan with Egypt

GMT 17:18 2017 Thursday ,07 December

EDB highlights Bahrain investment advantages

GMT 14:44 2017 Tuesday ,05 December

Saudi oil minister reaffirms OPEC output squeeze
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

libya’s oil authorities agree to unify ranks libya’s oil authorities agree to unify ranks

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 18:58 2016 Friday ,08 April

Cypriot parliament speaker to visit Egypt Sunday

GMT 11:43 2017 Thursday ,21 September

More than 100 migrants missing after shipwreck off Libya

GMT 12:03 2017 Thursday ,19 January

Dollar climbs on Yellen speech, Asia traders eye Trump

GMT 12:50 2017 Friday ,15 September

Fati Jamali received offer to participate

GMT 08:56 2017 Wednesday ,15 November

Nadal pullout leaves Federer as last man standing

GMT 08:10 2016 Wednesday ,28 December

Germany cancels show of Iran shah's art trove
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle