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
 Jul 29 2014 - New additions to Local Harvest brand of datesKhaleej Times
(MENAFN - Khaleej Times) E dates come from farmers who have contracts with ADFSC and therefore practise date palm farming according to the centres standards.For the next three weeks the Abu Dhabi ...

 Jul 29 2014 - PayTabs to launch online solutions in Bahrain, SaudiMENAFN
(MENAFN) PayTabs, a payment processing solution company co-owned by Saudi Aramco, is set to launch its online payment processing solutions in Bahrain and Saudi Arabia, Gulf Daily News reported.The ...

 Jul 29 2014 - Mobily signs LTE-4G roaming deal with BatelcoMENAFN
(MENAFN) Mobily telecom has signed an LTE-4G roaming deal with Bahrini Batelco to provide customers with advanced Internet services, Arab News reported.This agreement coincides with Eid Al-Fitr ...

 Jul 29 2014 - Radiant During RamadanMuscat Daily
(MENAFN - Muscat Daily) Keep your skin and hair glowing and shiny even as you're fasting in this holy month. Some tips... Moisturise Your skin too gets dehydrated when you fast. It is ...

 Jul 29 2014 - Nawras net profit grows 23 in H1Muscat Daily
(MENAFN - Muscat Daily) Omani Qatari Telecommunications Co SAOG (Nawras) on Wednesday said net profit for the first half of 2014 rose 23 per cent, driven by higher earnings before interest, taxes, ...

 Jul 29 2014 - Duqm Airport takes offMuscat Daily
(MENAFN - Muscat Daily) The newly opened Duqm Airport received its first Oman Air flight ahead of schedule on Wednesday with officials saying that the facility will serve as an air transport and ...

 Jul 29 2014 - Air fares rise by 35 as travellers rush to make the most of long breakMuscat Daily
(MENAFN - Muscat Daily) Fares of most airlines have gone up due to the increase in demand during Eid al Fitr holidays. The prices of tickets to different destinations have gone up by nearly 35 per ...

 Jul 29 2014 - MoHC invites bid for construction of $250mn Oman Cultural ComplexMuscat Daily
(MENAFN - Muscat Daily) After announcing the appointment of the UK-based international consultancy and construction company, Mace as project manager for the Oman Cultural Complex (OCC), the Ministry ...

 Jul 29 2014 - Moon sighting expected on Monday eveningMuscat Daily
(MENAFN - Muscat Daily) The crescent of the new moon is expected to be visible on Monday evening across all governorates in the sultanate, marking the beginning of the month of Shawwal, according to ...

 Jul 29 2014 - Pakistan's film industry becomes alive againArab News
(MENAFN - Arab News) HORE: A breed of brand new independent filmmakers is successfully filling the void left by an obsolete industry known as Lollywood.In many ways 2013 was an era-defining year for ...

more...


 






Google

Live Currency Rates

 
 

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