Protesters occupying Libya’s eastern oil ports have surrendered two key ports to the Libyan government, according to news site Bloomberg.
Libyan rebels surrendered control of two oil ports to the government, potentially enabling the OPEC member to triple crude exports this month with an increase of at least 180,000 barrels a day.
The self-declared Executive Office for Barqa handed over the oil terminals of Zueitina and Hariga overnight, said Ali Al-Hasy, a spokesman for the rebels said. An agreement yesterday with the government also provides for the rebels to relinquish the other two ports they control, Es Sider and Ras Lanuf, in two to four weeks, he said. The government confirmed the agreement in a statement on its website.
With Africa’s largest oil reserves, Libya’s oil production slumped by more than 1 million barrels a day in the past year as protests halted oil fields and ports.
“National Oil Corp. is free to start exports any time,” Al-Hasy said, referring to the state oil company that oversees crude production and shipments in the North African nation. “The terminals are in very good shape.”
Hariga has a daily capacity of 110,000 barrels, while Zueitina can handle 70,000 barrels, according to the Libyan Oil Ministry. Es Sider is the nation’s largest oil terminal, with a daily loading capacity of 340,000 barrels. Ras Lanuf has a capacity of 220,000 barrels.
