Eastern Libyan State Oil Company Signs Deal with Egypt

Eastern Libyan State Oil Company Signs Deal with Egypt

The state oil company of Libya’s eastern government has completed a deal to sell 2m barrels of oil to Egypt, according to a company press release, reports Egypt Independent.

The deal includes the oil shipment and industry training. Egyptian officials have not publicly confirmed the deal and the eastern Libyan oil company provided no further details.

The announcement comes a week after a delicate ceasefire and unity-government plan was reached between the internationally-recognized eastern government and the western government based in Tripoli.

Both sides have been operating their own oil companies and banking systems – further complicating the Libyan crisis. The eastern government has been keen to raise oil exports, which have been disrupted due to civil war. It is still unclear how the two governments and industries will be consolidated as the UN-brokered plan goes forward, but states such as Egypt hope to see the Libyan situation stabilized due to security concerns and economic interests.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password