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By Sami Zaptia.
London, 22 December 2015:
The National . . .[restrict]Oil Corporation (NOC) based in eastern Libya has reportedly signed a deal to export 2 million barrels of oil to Egypt.
The eastern-based NOC represents the internationally recognized parliament based in Tobruk and its Abdullah Thinni government based in Al-Beida.
It will be recalled that the eastern-based NOC and its government have been trying to export oil directly and independently from the Tripoli-based authorities for the best part of a year.
However, most international oil companies have so far chosen to stick to existing contracts signed with the Tripoli-based NOC and have also respected the call of the international community to respect the existing independence of the main sovereign state bodies such as the NOC, the Central Bank of Libya (CBL) Libyan Investment Authority (LIA) and the communications holding company LIPTC.
The international community are fearful that an effective duplication of sovereign institutions would further weaken the Libyan state and make the current political split of Libya irreversible.
The report quotes an NOC spokesman for the east saying that no oil has actually been exported yet.
It is not clear why Egypt, who is allied with the eastern authorities, has chosen this late stage to sign such an agreement in view of the fact that the east and west of Libya have only last week signed a peace agreement that would create one unified Government of National Accord (GNA).
The motivation for the eastern-based authorities comes from a desperate need for finances to fund demands in the region as well as gaining independence from their enemies in Tripoli. Currently all salaries across Libya, including those in the east are being paid by the Tripoli-based CBL. [/restrict]
