Egypt signs oil deal with rival to independent Libyan National Oil Company
International oil companies so far have dealt only with the National Oil Company(NOC) based in Tripoli that has maintained a position of neutrality between the two regimes.
|The internationally-recognized House of Representatives (HoR) has set up its own rival National Oil Corporation in the east in the hope of keeping all the oil revenues for itself no doubt. So far over the course of almost a year none of the larger international oil companies have been willing to deal with this HoR creation. However, now the eastern -based NOC has reportedly signed a deal to export 2 million barrels of oil to Egypt a month to the Egyptian General Petroleum Company.|
The international community are fearful that an effective duplication of sovereign institutions would further weaken the Libyan state and make the current political split of Libya irreversible.