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
 Dec 21 2014 - UAE slams non-OPEC members on rising oil productionMENAFN
(MENAFN) The UAE's Ministry of Energy said that the decision made by the Organization of the Petroleum Countries (OPEC) not to cut production was correct despite the prices continuing with their drop ...

 Dec 21 2014 - Oman's OLC, Spanish CLH sign USD320m contractMENAFN
(MENAFN) Orpic Logistics Company (OLC), a joint venture between Oman Oil Refineries and Petroleum Industries (Orpic), announced it has signed an engineering, procurement and construction (EPC) ...

 Dec 21 2014 - UAE's Hakkasan acquires USD36m The Light GroupMENAFN
(MENAFN) Hakkasan Group, the hospitality and entertainment company owned by Abu Dhabi-based Tasameem Real Estate, announced it has acquired The Light Group from Morgans Hotel Group (MHG), Arabian ...

 Dec 21 2014 - Omani OPWP awards Singaporean firm USD250m water projectMENAFN
(MENAFN) Oman's state-owned Oman Power and Water Procurement Company (OPWP) announced it has awarded a consortium led by the Singaporean Hyflux Ltd and National Power and Water Co a USD250 million ...

 Dec 21 2014 - Oman's SGRF boosts acquisition of local assetsMENAFN
(MENAFN) Oman's State General Reserve Fund (SGRF) announced it has boosted its buying of assets in the local market, particularly shares, due to the massive drop in the prices as the result of the ...

 Dec 21 2014 - Oman's Napco revenue hits USD34.95m in 9MMENAFN
(MENAFN) Oman's National Aluminum Products Company (Napco) announced it has registered a net profit of over OMR USD1.25 million as well as revenues totaling to USD34.95 million during the ...

 Dec 21 2014 - Dubai's Nakheel to restart USD550m Vietnam projectMENAFN
(MENAFN) Nakheel, the Dubai property developer, announced that it will propose a plan to restart a delayed project in Vietnam's northern province of Quang Ninh, which has an estimated value of USD550 ...

 Dec 21 2014 - Etihad Cargo records tonnage high in NovemberMENAFN
(MENAFN) Etihad Cargo, the freight division of UAE flag carrier Etihad Airways, announced it has carried 53.292 tons of cargo in November across its global network, thus achieving an all-time record ...

 Dec 21 2014 - Cold weather forecastJordan News Agency
(MENAFN - Jordan News Agency) The weather is expected to be relatively cold in most parts of the Kingdom and fair in the Jordan valley and Aqaba.Clouds will build up during the evening increasing ...

 Dec 21 2014 - Israeli warplanes bomb southern Gaza StripJordan News Agency
(MENAFN - Jordan News Agency)  Israeli warplanes bombed dawn Saturday, east of Khan Younis in the southern of Gaza Strip.This attack is the first since the end of the Israeli aggression on the Gaza ...

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

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