• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 7 days America should go after China but it should be done in a wise way.
  • 12 hours Even Shell Agrees with Climate Change!
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Kazakhstan Targets Fintech to Boost Revenue and Curb Tax Evasion

Kazakhstan Targets Fintech to Boost Revenue and Curb Tax Evasion

Kazakhstan's government is targeting fintech,…

Libya To Open All Ports When Oil Revenue Dispute Is Resolved

Libya expects to open all its oil loading terminals after it sets up a mechanism for a fair distribution of the country’s oil revenues among the regions, Parliament Speaker Aqila Saleh told U.S. ambassador and Special Envoy to Libya, Richard Norland, Benghazi-based news outlet The Libya Update reported on Monday.

Libyan oilfields and terminals have again been under blockade 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 Dbeibah refusing to step down for newly sworn-in eastern Prime Minister Fathi Bashaga.

Referring to the shutdowns in April, the U.S. Embassy in Libya said in a statement two weeks ago that “The damage the shutdown is causing to oil infrastructure will cost Libya additional millions, risks an environmental disaster, and could impact the country’s ability to utilize this infrastructure in the future to reach its full production potential.”

“The United States reminds Libyan leaders of the multiple UNSCRs that protect the National Oil Corporation and reaffirms our commitment to work with Libyan leaders on a mechanism that will give the Libyan people confidence that the country’s revenues are being distributed for the benefit of the Libyan people,” the U.S. Embassy said.

Libya’s House of Representatives plans to discuss the new budget at its next session, Speaker Saleh told Norland during a meeting in Cairo on Sunday.

Last week, Libya’s National Oil Corporation (NOC) said that the Zueitina oil terminal had temporarily resumed work in order to load two tankers and allow for enough space to store the displaced volume of the crude oil.

Instructions were given to the port operator to start shipping crude to nearby tankers, NOC said, announcing a temporary lifting of the force majeure from the Zueitina oil terminal, “with the hope that the crisis will be sorted out soon,” the corporation said.

In April, Libya loaded just 819,000 barrels per day (bpd) of crude from its ports, down from nearly 1 million in March and the lowest volume since October 2020, per tanker-tracking data that Bloomberg is monitoring.

ADVERTISEMENT

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News