17:17 GMT +319 August 2019
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    Libyan oil field

    Libyan Oil Corporation Set to Restart Exports from Captured Ports Soon

    © AFP 2019 / Abdullah Doma
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    Libya's National Oil Corporation (NOC) announced Tuesday it would begin work immediately to restart oil exports from the terminals that were seized by forces loyal to the eastern administration.

    MOSCOW (Sputnik) — The ports in Libya’s so-called oil crescent were captured last week from the UN-backed government of national accord (GNA). The Tobruk-based parliament speaker said the administration would honor export contracts.

    "Our technical teams already started assessing what needs to be done to lift force majeure and restart exports as soon as possible," NOC chairman Mustafa Sanalla said in a statement.

    Sanalla said it was in the nation’s interest to "keeping our oil flowing" and raise oil output and exports to reduce budget deficit. He pledged to raise production to 600,000 barrels a day within a month from the current 290,000 barrels and to 950 barrels by the end of the year.

    The NOC said it recognized the GNA’s Presidency Council as the country’s main executive body and the Tobruk parliament as the legislative authority, as it wanted to make sure that Libya's oil wealth benefits all Libyans.

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    Tags:
    Oil, ports, export, Libyan National Oil Corporation, Libyan Government of National Accord, Mustafa Sanalla, Libya
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