Libya’s NOC Garners More International Support

Libya’s NOC Garners More International Support

Libya’s National Oil Corp. (NOC) in Tripoli said it was to resume production from two oil fields, including the biggest Sharara, after more than a year.

According to Reuters, commodities trader Glencore said it recognized NOC as Libya’s sole legal oil marketer, after having secured an export deal with the state-run company earlier this year.

Glencore’s head of oil Alex Beard said that “International oil companies and the international community fully support NOC’s position. They have made it very clear there is no alternative to the NOC at its legal address in Tripoli as the only recognized marketer of Libyan oil.”

NOC’s chairman Mustafa Sanalla reaffirmed the support of Libya’s international oil partners.

“The NOC, at its legal address in Tripoli, remains the only legally empowered oil contracting authority of the Libyan state,” Sanalla said.

“It remains the seat of contracts for all the production, transportation and sale of Libyan oil. The board of NOC is committed to protecting the integrity and viability of the NOC.”

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