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.

Filed in: Top News Tags: 

You might like:

: Winning a bet, Tesla builds the world’s biggest battery for Australia : Winning a bet, Tesla builds the world’s biggest battery for Australia
Missing Argentine submarine: ‘Explosion’ detected near last known location Missing Argentine submarine: ‘Explosion’ detected near last known location
Why this year’s Thanksgiving dinner guests may be even more insufferable Why this year’s Thanksgiving dinner guests may be even more insufferable
NewsWatch: 6 things all investors should be thankful for NewsWatch: 6 things all investors should be thankful for
As sexual harassment scandals multiply, parents rethink how they raise their children As sexual harassment scandals multiply, parents rethink how they raise their children
Nearly a decade after Bernie Madoff, Americans still lose their life savings to Ponzi schemes Nearly a decade after Bernie Madoff, Americans still lose their life savings to Ponzi schemes
When is the best time to fly or drive on Thanksgiving? When is the best time to fly or drive on Thanksgiving?
Futures Movers: Oil eases from highest levels since 2015 as traders weigh up U.S. data Futures Movers: Oil eases from highest levels since 2015 as traders weigh up U.S. data
© 4500 Stock Investors News. All rights reserved. XHTML / CSS Valid.