The Libyan government in Tripoli recently announced the appointment of a new head for the National Oil Company (NOC), reported Bloomberg.
Nagi Elmagrabi was chosen as the replacement for Al-Mabrook Abu Seif, the former head. While the new appointment has authority over the contracts and Tripoli based payment systems, much of the country’s oil lies in the east, under control of the Tobruk-based government.
Efforts by the NOC to reopen major fields such as El Sharara and El Feel have been prevented by militias loyal to the Tobruk government, noted Reuters.
After his appointment, Elmagrabi announced that he is attempting to open the country’s two largest ports, “Among my priorities will be lifting force majeure at Es Sider and Ras Lanuf,” said Elmagrabi. “I will also seek to increase oil production.”