Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Tanker escapes to sea with cargo of Libyan rebel oil  Join our daily free Newsletter

MENAFN - AFP - 11/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) A North Korean-flagged tanker laden with oil from a rebel-held terminal in eastern Libya slipped the warships deployed to intercept it and escaped to sea on Tuesday, MPs said.The Morning Glory, which docked in Al-Sidra on Saturday and is reported to have taken on at least 234,000 barrels of crude, is the first vessel to have loaded oil from a rebel-held terminal since the revolt against the Tripoli authorities erupted last July.The central government had threatened armed action, even an air strike, to prevent the tanker getting away with its cargo of oil bought from the rebels' self-declared autonomous regional government without the authorisation of the state-owned Libyan National Oil Corporation.But members of the General National Congress, Libya's highest political authority, said that bad weather prevented the navy's small vessels from following the huge ship out into the Mediterranean.

"The oil tanker took advantage of poor weather conditions to head for the open sea. The ships that were surrounding it were not in a position to follow," one GNC member told AFP.Abdelkader Houili, who sits on the GNC's energy committee, told Al-Nabaa television that the navy's warships, which mainly consist of fast patrol boats, had been forced to sail close to the coast because of the weather."The tanker then took advantage of the gap to head for the open sea," he said.The Morning Glory's escape is a new humilation for the Tripoli authorities who have been battling to assert control over much of the country since the NATO-backed 2011 revolt that ended the 42-year dictatorship of Moamer Kadhafi.In eastern Libya in particular, a myriad of former rebel militias, Islamist as well as regionalist, have carved out their own fiefdoms. There have been almost daily attacks on security and other government personnel in the region's main towns.Former rebels calling for the restoration of the autonomy that Cyrenaica enjoyed for the first 12 years after Libyan independence in 1951, seized control of eastern export terminals last July.- Washington 'deeply concerned' -

They have made several attempts to export crude through their own oil company but the Morning Glory is the first to have successfully taken on crude."We are not demanding the breakup of the country," the head of the federalists' self-declared autonomous government, Abdrabbuh al-Barassi, said on Saturday. "The oil revenues would be split between the three autonomous regions," he said, promising that all sales would be carried out with complete transparency. But Washington said on Sunday that it was "deeply concerned" over the loading of "illicitly obtained" oil."This action is counter to law and amounts to theft from the Libyan people," State Department spokeswoman Jen Psaki said."The oil belongs to the Libyan National Oil Company and its joint venture partners."Warships had deployed to block the Morning Glory after Culture Minister Amin al-Habib warned on Sunday the tanker would be "turned into a pile of metal" if it tried to leave port.

The GNC said a task force composed of both regular troops and ex-rebel militia was being formed to bring the rebel ports back under central government control within a week.But analysts warned that any resort to force risked plunging Libya back into civil war and wreaking major damage to the country's key oil infrastructure.The standoff between the Tripoli authorities and the eastern rebels has already slashed Libyan oil exports from 1.5 million barrels per day to just 250,000, dealing a massive blow to the North African country's key revenue earner.The simmering tensions in Libya helped push up oil markets Tuesday with New York's main contract, West Texas Intermediate (WTI) for delivery in April, gaining 19 cents to 101.31 a barrel."Libya continues to support prices as well, with the threat to sink a North Korean tanker if it loads oil from a rebel held port being taken seriously in the markets,'' said analyst Joe Conlan at energy consultancy Inenco

 






  MENA News Headlines
 Aug 20 2014 - UAE's Nakheel to repay all its USD2.15 billion debt to banksMENAFN
(MENAFN) Nakheel, the Dubai property developer, is planning to repay all of its bank debt amounting to USD2.15 billion as much as four years ahead of schedule, The Peninsula Qatar reported.The ...

 Aug 20 2014 - ASCOM geology picked to work on Suez projectMENAFN
(MENAFN) Egypt's ASCOM Geology and Mining Company has been chosen to work on a multi-billion dollar project which will expand the Suez Canal by building a new canal next to the original one, Gulf ...

 Aug 20 2014 - UAE'S Al Madina signs settlement deal for debtsMENAFN
(MENAFN) Al Madina for Finance and Investment announced it has signed a settlement deal to pays its debt to Global Investment House, Gulf News reported.The settlement deal states that Al Madina will ...

 Aug 20 2014 - Dubai property giant repays debt four years earlyAFP
(MENAFN - AFP) Nakheel, the real estate giant at the heart of Dubai's financial crisis, confirmed Wednesday that it would repay all of its 7.9 billion dirhams ($2.15 billion) bank debt almost four ...

 Aug 20 2014 - Ex-minister in India refutes love child claimKhaleej Times
(MENAFN - Khaleej Times) A former federal minister has denied the allegation made by a 47-year-old Gujarat-based widow that he had tied the knot with her in 2005 and is the father of her 19-year-old ...

 Aug 20 2014 - Intensive exhaustive household survey stalls TelanganaKhaleej Times
(MENAFN - Khaleej Times) Nearly 400000 government employees teachers and student volunteers began the house-to-house survey at 7am in the city and at 8am in other parts of the state ...

 Aug 20 2014 - Surviving a typhoon in Leyte and rebuilding livesKhaleej Times
(MENAFN - Khaleej Times) Its not yet a year since the worlds most devastating storm reached landfall and while aid workers began pulling out last month recovery efforts are far from over.It has been ...

 Aug 20 2014 - Pakistan army urges talks as protesters await political showdownKhaleej Times
(MENAFN - Khaleej Times) Imran Khan the former cricket star and now chairman of the Pakistan Tehreek-i-Insaaf (PTI) and preacher Tahir Ul Qadri have led days of protests demanding the resignation of ...

 Aug 20 2014 - Yoga guru BKS Iyengar dies of kidney failureKhaleej Times
(MENAFN - Khaleej Times) Iyengar started his yoga school in 1973 in the western city of Pune developing a unique form of the practice that he said anyone could follow.BKS Iyengar the yoga guru who ...

 Aug 20 2014 - Japanese 111-year-old becomes oldest manKhaleej Times
(MENAFN - Khaleej Times) Sakari Momoi a former high school principal who was born on February 5 1903 received a certificate from Guinness World Records confirming the ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help