Breakaway eastern National Oil Company in Libya plans to export more oil illegally
The head of the breakaway National Oil Company (NOC) based in eastern Libya and recognized by the Tobruk-based House of Representatives, Nagi Elmagrabi, said more exports were expected in the future.
|Elmagrabi said that the shipment of 650,000 barrels of crude was just the first. He expected payment within a month to an account at Bank Al Elihad in Jordan. He did not disclose the amount. The shipment is a direct challenge to the UN-brokered Government of National Accord (GNA) and the Tripoli-based National Oil Company (NOC) recognized by it as the sole company authorized to sell Libyan oil. The Tripoli NOC is recognized by traders such as Glencore Plc and the Vitol Group.|
“No one is willing to accept that the eastern government is able to sell oil independently because it would have devastating consequences for Libya. It would be much, much harder to form a national unity government in that case.”Some people are willing to buy the oil. The present shipment was sold to DSA Consultancy FZC based in the United Arab Emirates (UAE). The UAE supports Haftar and the HoR.
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