• 3 minutes Biden Seeks $2 Trillion Clean Energy And Infrastructure Spending Boost
  • 5 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 8 minutes Gazprom fails to exempt Nord Stream-2 from EU market rules
  • 1 hour The Truth about Chinese and Indian Engineering
  • 3 hours Trumpist lies about coronavirus too bad for Facebook - BANNED!
  • 1 hour China wields coronavirus to nationalize American-owned carmaker
  • 59 mins China's impending economic meltdown
  • 4 hours Why Oil could hit $100
  • 18 hours The World is Facing a Solar Panel Waste Problem
  • 11 hours Pompeo upsets China; oil & gas prices to fall
  • 3 hours Renewables Overtake Coal, But Lag Far Behind Oil And Natural Gas
  • 6 hours Brent above $45. Holding breath for $50??
  • 2 hours Open letter from Politico about US-russian relations
  • 1 day Sell Natural Gas Benefits to Grow the Market!
  • 2 days The Core Issue Of US Chaos..Finally disclosed
  • 1 day Trump Suggests Delaying Election Amid Fraud Claims
  • 2 days Rational analysis of CV19 from Harvard Medical School
COVID Fears Drive Oil Prices Downwards

COVID Fears Drive Oil Prices Downwards

Despite significant oil inventory declines…

U.S. Shale Remains In Survival Mode For Another Year

U.S. Shale Remains In Survival Mode For Another Year

After slashing capex plans for…

LNA Wrestles Control Of Three Libyan Oil Ports From PFG

The Libyan National Army has taken control of three oil export terminals in the so-called Oil Crescent, wrestling them from the Petroleum Facilities Guard, which is affiliated with the UN-backed Government of National Accord.

The terminals are Es Sider, Ras Lanuf, and Zueitina— Es Sider and Ras Lanuf alone account for 700,000 bpd in export capacity, almost half of what Libya used to export before it plunged into a civil war in 2011.

The fight for the three ports started in August with an LNA attack on PFG forces in the Zueitina oil terminal. Control of the port was established earlier today, media reported, citing LNA sources. Now the LNA is moving on to take the fourth oil port on Libya’s Mediterranean coast, Brega. According to Bloomberg, the change of control of the ports will further aggravate the already difficult situation in Libya’s oil industry.

The country’s oil ports have been under the control of the Petroleum Facilities Guard—led by Ibrahim Jadhran—since 2013. The PFG, like the Libyan National Army, is an armed group, which is treated by the latter as an “outlaw militia.” The LNA, in turn, is also seen as a hostile entity by the PFG, which has benefited materially from its control over ports as well as oilfields. The LNA—led by General Khalifa Haftar—is affiliated with the Libyan Parliament, based in the east of the country.

The PFG’s modus operandi is to seize control of ports and oil fields with demands for financial rewards, as the restoration of law and order in the North African country remains a distant prospect. The possibility of hundreds of thousands of Libyan oil barrels re-entering international markets is equally distant.

According to the Tripoli Post, which backs the Libyan National Army, the change of control over the oil ports will allow the National Oil Corporation to restart exports, adding that these are planned to reach 900,000 bpd within the next six months.

The chances of this actually happening, however, are slim, as the clashes between opposing political groups continue. It’s all too likely that the LNA will treat the ports in the same way as the PFG – as a source of revenue and political influence – so the prospects of resumption in Libyan oil exports remains distant.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News