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Libya: the new directors of the state oil company ensures that oil will return to the market very soon, but it is not known what will happen

After the military occupation of Libya's National Oil Company (NOC) on Thursday, new president Farhat Bengdara told the media that he had full control of the company and that force majeure could be lifted on Libya's oil exports within a week. .
In an interview with Bloomberg , Bengdara said it will double Libyan crude oil production to 1.2 million bpd. He also reiterated to foreign partners that all existing contracts will be respected.

Serious doubts remain about Bengdara's control, however, as NOC's longtime president Mustafa Sanalla refused to step down in the face of a takeover decree by the Prime Minister's National Unity Government (GNU) ad interim Abdul Hamid Dbeibah, whose legitimacy of the mandate is questioned.

In a public address Thursday, a disheartened Sanalla, who headed the politically independent CNO for eight years, refused to accept the acquisition, calling Dbeibah's government "illegitimate" as his term technically expired when he did not hold. the elections in December 2021.

In a telephone interview with Reuters on Thursday, Sanalla said he was in Tripoli to try to defuse the situation and to lobby internationally to avoid what would inevitably lead to the creation of two parallel NOCs in a country already suffering from a dangerous stalemate with parallel governments vying for control of national oil resources.

On Friday, Dbeibah filed a complaint with the Attorney General against Sanalla, saying he "deliberately appeared in the media and made blatant and irresponsible statements against the Prime Minister and some other officials, refusing to implement the Cabinet decision and hindering the work of the committee. for the handover ".

Sanalla also filed a complaint demanding the revocation of the takeover decree and accusing the Dbeibah government of taking action to please the UAE. Meanwhile, the NOC's website and social media accounts haven't posted any updates since Thursday, further questioning who's in control. So Libyan oil also depends on a confused judicial and public order situation, if not military.


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The article Libya: the new directors of the state oil company ensures that oil will return to the market very soon, but it is not known what happens comes from ScenariEconomici.it .


This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/libia-il-nuovo-amministratori-della-societa-petrolifera-di-stato-assicura-che-il-petrolio-tornera-prestissimo-sul-mercato-ma-non-si-sa-che-succeda/ on Sun, 17 Jul 2022 07:30:19 +0000.