The Islamic State(IS) has launched more attacks on oil terminals, this time at the Ras Lanauf — sometimes spelled Ras Lanuf or Ras Lanouf — export terminal. Four more oil tanks have been set on fire.
|The chair of the Tripoli-based National Oil Company, Mustafa Sanalla, described the resulting fires as a disaster. As many as three million barrels of oil could be set on fire. Obviously, IS is not seeking to use the oil facilities as a source of revenue. They are seeking to deprive the Libyan new UN-brokered Government of National Accord (GNA), or the two rivals, the internationally-recognized House of Representatives (HoR) based in Tobruk or the western-based General National Congress (GNC) of any revenue from oil.|
It’s now the smallest producer in the Organization of Petroleum Exporting Countries, producing 362,000 barrels a day.The Wall Street journal claims that Libya’s contribution to the Organization of Petroleum Exporting Countries was just 0.06 percent in 2015. While loss of production from Libya may not have all that much effect on the global oil market the loss of revenue could be disastrous for an already suffering Libyan economy. The Islamic State attacks will generate even more pressure from the international community for Libyans to support the new UN-brokered Government of National Accord.