No Result
View All Result
Thursday, June 8, 2023
22 °c
Tripoli
24 ° Fri
27 ° Sat
23 ° Sun
23 ° Mon
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

Benghazi NOC boss contacts Faiez Serraj

byNigel Ash
April 11, 2016
Reading Time: 2 mins read
A A
Benghazi NOC boss contacts Faiez Serraj

Is Benghazi NOC chief trying to extract PC recognition? (File photo)

12
SHARES
51
VIEWS
Share on FacebookShare on Twitter

By Moutaz Ali.

Is Benghazi NOC chief trying to extract PC recognition? (File photo)
Is Benghazi NOC chief trying to extract Serraj’s recognition? (File photo)

Tripoli, 10 April 2016:

The Benghazi-based National Oil Corporation chairman Nagi Elmagrabi has written to prime minister-designate Faiez Serraj asking . . .[restrict]him to name the Presidency Council’s approved account to which the eastern NOC should be sending its oil income. Elmagrabi has also protested a reported deal with international oil trader Glencore that gives that firm exclusive rights to lift oil from the Hariga export terminal near Tobruk.

At first sight, the letter would seem to indicate that Elmagrabi is recognising the Government of National Accord even while the House of Representatives is failing to vote for or against the UN-brokered government and the Libyan Political Agreement.

The puzzle is that the Thinni government, which appointed Elmagrabi, has been seeking and apparently failing to sell oil outside of the established Tripoli NOC channels. Therefore it would not appear that the Benghazi NOC has any oil revenues that could be sent to an account selected by the Presidency Council

RELATED POSTS

The Restaurant and Food Show – Benghazi 2 to 5 October

Benghazi Turkish Trade Exhibition postponed to 12-15 June

Normally payments for Libyan oil and gas sales are made to a Central Bank of Libya account held in the Naples’ branch of the Libyan Arab Foreign Bank in Italy. The money never passes through NOC’s hands. Indeed even before the Libyan Dawn ascendency in Tripoli, NOC complained that it never handled its own revenues. It had to seek cash from the CBL via the Oil Ministry in order to pay its bills or make fresh investments.

Elmagrabi’s Glencore complaint is that the agreement has been set up by Mustafa Sanallah, head of the Tripoli NOC.  Elmagrabi claims that the deal is “blatant interference in the sovereignty of Libya”.

Though Serraj has had a succession of meetings with key figures in Tripoli and municipalities within the area under Libya Dawn control, including CBL governor Saddek Elkaber, it is not confirmed that he has yet met Sanallah.

The greater part of current oil exports of something less than 400,000 b/d now comes from the east of the country, with just 100,000 b/d from offshore fields in the west. Though there are some liftings from Brega, the main export terminal still functioning is Hariga. The terminals at Ras Lanuf and Sidra have been damaged by assaults first from Libya Dawn militias and latterly from IS.

Elmagrabi’s letter may not however actually signal a split with the Thinni government which gave him the NOC job, but rather an attempt to claim ownership over all of NOC. Though the Zeidan government agreed that it should relocate to Benghazi, NOC has remained in Tripoli, along with all of its sales and accounting teams and operational departments. [/restrict]

 
Tags: BenghaziElkaberElmagrabifeaturedGlencoreLibyaNOCSanallahSerrajTripoli
Share5Tweet3Share1

Related Posts

Libyan PM Aldabaiba leads high level ministerial delegation to Rome: multi-sector MoU’s signed
Libya

Libyan PM Aldabaiba leads high level ministerial delegation to Rome: multi-sector MoU’s signed

June 7, 2023
Audit Bureau critical of mismanagement and corruption in electricity sector
Libya

Audit Bureau evaluates the performance of embassies abroad and lawsuits filed against the Libyan state

June 6, 2023
AMLY School is offering an innovative approach to learning in Libya
Libya

AMLY School is offering an innovative approach to learning in Libya

June 5, 2023
Attorney General orders arrests at Jumhouria bank branch for embezzlement
Libya

Members of illegal organizations given imprisonment and death sentences by Misrata Criminal Court

May 30, 2023
State recognised militia and Libyan Army clash in central Tripoli
Libya

State recognised militia and Libyan Army clash in central Tripoli

May 29, 2023
FDCC destroys non-conforming shipments of medicines, calls on suppliers to respect Libyan health standards
Libya

FDCC destroys non-conforming shipments of medicines, calls on suppliers to respect Libyan health standards

May 29, 2023
Next Post

PC sacks Ghwell spokesman, instals new foreign media head

State Council meets again in Tripoli as controversy continues over its establishment

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • HB Group opens Apple authorised I-Shop reseller in Tripoli’s Siyahia

    HB Group opens Apple authorised I-Shop reseller in Tripoli’s Siyahia

    80 shares
    Share 32 Tweet 20
  • British Libyan Business Association and the Libyan Business Council sign MoU

    74 shares
    Share 30 Tweet 19
  • AMLY School is offering an innovative approach to learning in Libya

    66 shares
    Share 27 Tweet 16
  • Libya invites German companies to resume their projects and invest in Libya

    52 shares
    Share 21 Tweet 13
  • State recognised militia and Libyan Army clash in central Tripoli

    257 shares
    Share 103 Tweet 64
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Libyan PM Aldabaiba leads high level ministerial delegation to Rome: multi-sector MoU’s signed

The Restaurant and Food Show – Benghazi 2 to 5 October

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?