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Wednesday, July 27, 2016
While a deal to reopen the ports was agreed upon between Libya’s Petroleum Facilities Guard (PFG) and the UN-backed unity government, no signature has been attached to the document by the government.
PFG commander, Ibrahim Jathran, said that while he was ready to end the blockades at the ports of Ras Lanuf, Es Sider, and Zueitina the government would need to sign for that to happen.
The PFG was in the “highest state of readiness” to resume exports, he said in a Reuters report. “The ball is now in the Presidential Council’s court, it only has to come to Ras Lanuf to sign the agreement for exports to start.”
Even if the government did sign the agreement, exports of crude may not flow out of these ports as Mustafa Sanalla, head of Libya’s National Oil Corp. (NOC), is not so set on the deal with the PFG, concerned that the PFG commander was demanding far more than the PFG’s salary needs.
Sanalla said the NOC would not lift force majeure at export terminals if a payout went through due to the risk that the corporation would face liabilities over losses stemming from the blockade. Sanalla believes the funds would be better spent funding NOC’s subsidiary Agoco in fixing equipment at oil fields and getting the company’s production flowing again.
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