The Wall Street Journal: Libya set to boost oil exports after reopening three eastern ports

Libya’s state-controlled National Oil Co. said it was taking steps to restart exports from three blocked oil ports after the government reached a deal with local guards that had blocked the facilities during a pay dispute.

The deal could help revive Libya’s sagging oil exports, which have been curtailed as various factions fight for control of this North African nation.

In a statement Sunday, the National Oil Co. said it “unconditionally” welcomed a deal between Libya’s unity government and the Petroleum Facilities Guards to reopen three eastern ports. The guards, an autonomous force that operates like a militia, had blocked them for 18 months, claiming they weren’t getting paid.

The state oil company said it “will now start working” to resume exports, including calling back staff to work and talking to international oil buyers. But it warned there were still security and political obstacles before the first ship can be loaded, without providing more details.

An expanded version of this report appears on WSJ.com.

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