After a series of clashes, Libya’s oil ports are to resume shipments after the state acquired control of key terminals
After a series of clashes, Libya’s oil ports are to resume shipments after the state acquired control of key terminals.
Libya’s National Oil Corp (NOC) has seized the ports of Ras Lanuf, Es Sider, Hariga and Zueitina.
The NOC said in a statement: “Production and export operations will return to normal levels within the next few hours [July 12, 2018] .”
With the reopening of the ports, trade is expected to see a boost in North Africa, Europe and the Middle East, with markets steadying as a result.
Libya has possession of Africa’s largest oil reserves, however skirmishes have tarnished production since the revolution in 2011.
During the worst of the fighting, Libya’s oil production fell by around 50%.
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