Libya's National Oil Corp. (NOC) on July 12 accused the United Arab Emirates (UAE) of instructing eastern forces in Libya's civil war to reimpose a blockade of oil exports after the departure of a first tanker in six months.
The UAE, along with Russia and Egypt, supports the eastern-based Libyan National Army (LNA) of Khalifa Haftar, which on July 11 said the blockade would continue despite it having let a tanker load with oil from storage.
"NOC has been informed that the instructions to shut down production were given to [the LNA] by the United Arab Emirates," it said in a statement, resuming force majeure on all oil exports.
There was no immediate comment on NOC's accusation from either the LNA or the UAE.
Haftar has been on the back foot after Turkish support helped the internationally recognized Government of National Accord (GNA) turn back his 14-month assault on the capital Tripoli.
After the GNA gained ground, NOC also tried to restart production at the Sharara oil field but said this effort was quickly shut down and accused Russian mercenaries fighting alongside the LNA of deploying there.
On Friday the Vitol tanker Kriti Bastion docked and loaded at Es Sider port before sailing on Saturday, the first legal export of Libyan oil since the blockade was imposed in January. NOC said Russian and Syrian mercenaries fighting alongside the LNA now occupied Es Sider.
Under international agreements, only NOC can produce and export oil and revenues must flow into the Central Bank of Libya. Both those institutions are based in Tripoli, seat of the GNA.
The LNA said on July 11 it would keep up the blockade until a list of conditions were met, including channeling oil revenue into a new bank account based outside the country to then be distributed regionally.
On July 12, the United States' Libya embassy said the resumption of the blockade came after "days of intense diplomatic activity" to let NOC resume output, and said it "regrets that foreign-backed efforts" had impeded this.
Recommended Reading
Utica Oil Player Ascent Resources ‘Considering’ an IPO
2025-03-07 - The 12-year-old privately held E&P Ascent Resources produced 2.2 Bcfe/d in the fourth quarter, including 14% liquids from the liquids-rich eastern Ohio Utica.
Phillips 66’s Brouhaha with Activist Investor Elliott Gets Testy
2025-03-05 - Mark E. Lashier, Phillips 66 chairman and CEO, said Elliott Investment Management’s proposals have devolved into a “series of attacks” after the firm proposed seven candidates for the company’s board of directors.
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
Oil, Gas and M&A: Banks ‘Hungry’ to Put Capital to Work
2025-01-29 - U.S. energy bankers see capital, generalist investors and even an appetite for IPOs returning to the upstream space.
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
2025-01-21 - The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.