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Libya's national oil company pledges to work with UN-backed gov't

Libya's national oil company pledges to work with UN-backed gov't

Libya

Libya’s national oil company has said it is going to work with the UN-backed unity government that arrived in Tripoli on Thursday.

Mustafa Sanalla, the chairman of the National Oil Corporation said that this will help co-ordinate future oil sales and end a period of division and rivalry that has plagued the company.

He also welcomed the U.N. Security Council’s renewal on Thursday of measures to prevent illicit oil exports from Libya, a reference to efforts by Libya’s eastern government to sell oil independently.

“Combined with the recent announcement by the Petroleum Facilities Guard (PFG) that it intends to reopen export ports it has been blockading, I hope NOC and the country’s oil resources can provide a solid platform on which the country’s recovery can be built,” Sanalla said in a statement.

Libya has the largest oil reserves in Africa but output has fallen up to 80% since 2011, when the country descended into chaos following the ouster of its long time ruler Muammar Gaddafi.

Reuters

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