Libya expects to open all its oil terminals after setting up a mechanism for fair distribution of the country’s oil revenues among the regions, Parliament Speaker Achilles Saleh told US Ambassador and Special Envoy to Libya Richard Norland, Benghazi-based The Libya Update announced on Monday.
Libya’s oil fields and terminals have been under siege again in recent weeks amid protests, clashes and disputes over the distribution of oil revenues in the country with two rival governments, with incumbent Prime Minister Abdul Hamid Dbeybach refusing to step down for new Eastern Prime Minister Bahati Fati .
Citing the April shutdowns, the U.S. embassy in Libya said in a statement two weeks ago that “the damage caused by the shutdown to oil infrastructure will cost Libya extra millions, risk an environmental catastrophe and could affect the country’s ability to use this infrastructure in the future to reach its full production potential. ”
“The United States reminds Libyan leaders of the many UN Security Council Resolutions protecting the National Petroleum Corporation and reaffirming our commitment to working with Libyan leaders on a mechanism that will reassure the Libyan people that the country’s revenue is distributed of the Libyan people. “, Said the US Embassy.
Libya’s House of Representatives plans to discuss the new budget at its next session, President Saleh told Norland during a meeting in Cairo on Sunday.
Last week, the Libyan National Petroleum Corporation (NOC) said the Zueitina oil terminal had temporarily resumed operations to load two tankers and allow enough space to store the displaced crude oil volume.
The port operator has been instructed to begin delivering crude oil to nearby tankers, the NOC said, announcing the temporary removal of force majeure from the Zueitina oil terminal, “in the hope that the crisis will be resolved soon,” the corporation said.
In April, Libya loaded just 819,000 barrels per day (bpd) of crude oil from its ports, down nearly 1 million in March and the lowest volume since October 2020, according to tracking data from tankers monitored by Bloomberg.
By Charles Kennedy for Oilprice.com
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