Libyan National Oil Corporation warns against selling Libyan oil with illegitimate contracts

  • Libyan Express |
  • Sunday 26 March 2017

The Libyan National Oil Corporation (NOC) in Tripoli has warned what it described illegal and illegitimate bodies trying to sell Libyan oil through illegitimate contacts, saying the only legitimate body in Libya’s oil sector is the NOC in Tripoli.

It also said in a statement on Sunday that as regards to the United Nations Resolutions, it is the only body responsible to make contracts with oil firms to sell Libya’s oil.

It confirmed that it had made all the contracts with 16 companies for the whole year of 2017 and no more contracts will be legitimate no matter who had signed them because it is the only legitimate state institution in Libya in this regard.

“Only the contracted firms can use oil tankers to load oil from Libyan oil ports.” The NOC said.

The companies are ENI ، Total ، OMV ، Repsol, Rosneft LukOil ، Cepsa ، Saras ، API ، Glencore ، Socar ، Unipec ، Vitol ، Gunvor ، Petraco, and BB Energy, said the NOC.

The NOC said it had been informed of some parties attempting to sell Libyan oil by contracting unknown firms, saying by such a conduct they could have caused millions of dollars in loss for the country as they wanted to sell oil with discounts on the Official Selling Price.

“The NOC will pay no compensations for any party that might get losses though the illegal contracts.” The statement concluded.


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