Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

West urges rapid opening of ports under Libya oil deal  Join our daily free Newsletter

MENAFN - AFP - 07/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Western states on Monday called for a rapid reopening of oil terminals in eastern Libya after rebels agreed to gradually lift a nine-month blockade.The rebels seeking regional autonomy agreed Sunday to allow the reopening of two of four oil terminals which they have blockaded since July.The blockades have denied the country vital revenues, as the weak central government struggles to impose law and order following the 2011 uprising that ended Moamer Kadhafi's four-decade reign. Britain, France, Germany, Italy and the United States, in a joint statement issued in Tripoli, welcomed the agreement."Our governments call on all parties concerned to implement the agreement in full and as quickly as possible," they said.They called for "the prompt establishment of a transparent and inclusive national dialogue that includes particular focus on the fundamental national and regional questions involving Libya's resources."The deal allows for the immediate reopening of the Zueitina and Al-Hariga terminals, which have a combined oil export capacity of 210,000 barrels per day (bpd). The agreement aims for a lifting of the blockade of Ras Lanouf and Al-Sidra ports, which together have a 550,000 bpd capacity, within two to four weeks.A government spokesman, Ahmed Lamin, told AFP that Zueitina and Al-Hariga were returned to the control of Libyan authorities on Sunday, although no obvious changes were observed at the two ports.Global oil prices weakened on Monday after the agreement struck in Libya.Tripoli says the blockade of the export terminals has cost Libya more than 14 billion in lost oil revenues, slashing exports from 1.5 million to 250,000 bpd.The rebels have demanded a referendum on restoring the autonomy that the eastern Cyrenaica region enjoyed for the first 12 years after Libyan independence in 1951.They have also sought full back-pay for their men, who were employed as security guards at the oil terminals before launching their blockade.Details of Sunday's agreement were kept under wraps.The eastern oil terminals were a key battleground in the NATO-backed uprising that saw Kadhafi toppled and killed in 2011.A Western diplomat said the rebels were "trying to find a way out of the crisis they created" with an abortive oil export bid on a rogue tanker last month.The US Navy intercepted the tanker and returned it to Libya, and the UN Security Council on March 19 passed a resolution banning all unauthorised Libyan oil exports.


 


AFP




  MENA News Headlines
 May 24 2015 - MSM30 index weighed down by weak activityMuscat Daily
(MENAFN - Muscat Daily) The general index of the Muscat Securities Market (MSM) inched down 0.12 per cent to close at 6375.43. With a total of 49 stocks traded on the bourse on Sunday the market ...

 May 24 2015 - Oman Fisheries posts 3rd straight annual lossMuscat Daily
(MENAFN - Muscat Daily) Oman Fisheries Co posted its third consecutive year of losses with its deficit widening to RO1.75mn for the financial year ended March 31 2015.  The company has ...

 May 24 2015 - The company has registered a loss of RO711,021 in the previous fiscal.Muscat Daily
(MENAFN - Muscat Daily) Bank Sohar has mandated Arab Banking Corporation as the sole book-runner and initial mandated lead arranger to arrange on its behalf a debut US$250mn syndicated term loan ...

 May 24 2015 - OPWP to sign deals today to develop Salalah power plantMuscat Daily
(MENAFN - Muscat Daily) Oman Power and Water Procurement Co (OPWP) the sole procurer of all new power generation and water desalination capacity in Oman will sign a number of agreements for phase two ...

 May 24 2015 - Team of researchers set to explore how UAE brands are perceived globallyKhaleej Times
(MENAFN - Khaleej Times) The University of Wollongong in Dubai (UOWD) is set to lead a global team of researchers into unchartered territory as they explore how brands from the UAE are perceived ...

 May 24 2015 - Cozmo Travel increases presence in UAEKhaleej Times
(MENAFN - Khaleej Times) The Ras Al Khaimah branch was inaugurated by Engineer Shaikh Salem bin Sultan bin Saqr Al Qasimi chairman of Department of Civil Aviation RAK. Dubai - Cozmo ...

 May 24 2015 - Sahara Centre revs up with performance car bike displayKhaleej Times
(MENAFN - Khaleej Times) Sahara Centre is currently hosting a nine-day sports car and motorcycle display from May 21 to 29 giving the regions petrol-heads the opportunity to encounter the very best. ...

 May 24 2015 - Candle lighting at RAKCONKhaleej Times
(MENAFN - Khaleej Times) 15 Emirati local nursing students and 11 international students lit their candle from the dean and the senior faculty of RAKCON. The Vice-Chancellor Dr S.G.M. Rao ...

 May 24 2015 - Cosmos launches new Sharp smart LED TVKhaleej Times
(MENAFN - Khaleej Times) Sharp Middle East conducted a Facebook competition to educate consumers about unique Cocoro Eye feature. Khushbu Gandhi receives an award at a ceremony at the Cosmos ...

 May 24 2015 - Dh246m water reservoir completedKhaleej Times
(MENAFN - Khaleej Times) The Dewa works according to its strategy which is a key component of Dubai Plan 2021." Dubai — The Dubai Electricity and Water Authority or Dewa has completed ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help