Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Libya threatens to bomb N.Korean ship over 'illegal' oil  Join our daily free Newsletter

MENAFN - AFP - 08/03/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - AFP) Libya threatened to bomb a North Korean-flagged tanker at an oil terminal held by militants in the restive east, saying it was being loaded illegally.Separatists blockading Al-Sidra facility attempted to load crude aboard the Morning Glory in the latest challenge to central government control."The attorney general has given the order for the ship to be stopped," Prime Minister Ali Zeidan told a news conference."All parties must respect Libyan sovereignty. If the ship does not comply, it will be bombed," he said.Zeidan said the authorities had told the vessel's captain to leave Libyan territorial waters, but he said armed gunmen on board were preventing him from leaving.The self-proclaimed government of Cyrenaica in the east, the political wing of the separatists, said oil exports from Al-Sidra had now begun. "We announce to Libyans and to the whole world that we have begun exporting oil," said Rabbo al-Barassi, who heads the Cyrenaica executive bureau formed in August by federalist activists.

"We are not defying the government or the Congress (parliament). But we are insisting on our rights," he said.Protesters at the eastern oil ports are demanding a restoration of the autonomy the eastern region was granted in the first decade after Libya's independence in 1951.They have also accused the authorities of corruption and are demanding a more equitable distribution of oil revenues.Deputy Defence Minister Khaled al-Sherif told AFP a "crisis committee" of government officials and lawmakers had issued an ultimatum for the oil tanker to depart."If the ship doesn't comply, it will be bombed by the air force or intercepted at sea by the navy," Sherif warned.An MP and committee member said the 2:00 pm (1200 GMT) deadline expired without any action being taken, however.Washington's envoy to Tripoli warned on Twitter that any cargo deemed to have been loaded illegally would face international sanction."Companies that engage in illicit trade with separatist groups in Libya risk liability in multiple jurisdictions," US Ambassador Deborah Jones tweeted."The only entities authorised to sell Libya's oil are the Libyan National Oil Corp. & its subsidiaries JV partners," she added.
- 'Act of piracy' -

Earlier, a member of the energy committee in Libya's interim parliament, the General National Congress, said the Morning Glory had anchored at Al-Sidra at 4:00 am (0200 GMT).Militants seeking autonomy for Libya's east were trying to load petroleum "outside the framework of the state", he added, speaking on condition of anonymity.Acting Oil Minister Omar Shakmak denounced the move as an "act of piracy"."This is a violation of national sovereignty. It is up to the defence ministry to deal with this ship," he told AFP, without elaborating.The oil crisis erupted in July, when security guards at key terminals shut them down, accusing the authorities of corruption and demanding a more equitable distribution of oil revenues.The situation has become more complicated as self-rule activists have insisted on the right to export.Saturday's incident was the latest in a stand-off over the North African country's principal source of revenue.Oil installation guards initially launched the blockade of key sites over price hikes but later also to call for autonomy for Cyrenaica, cradle of the 2011 revolt that toppled Moamer Kadhafi.In January, the navy prevented two tankers from docking in Al-Sidra to take on crude. The government also threatened to bomb any ships attempting to dock without permission from the National Oil Corporation.Following the blockade, production plunged to around 250,000 barrels per day from 1.5 million bpd, and the economy ministry estimated the treasury has lost more than 9 billion (6.5 billion euros) in revenue.Production has since recovered to 546,000 bpd, but the crisis continues to take hit state coffers.With independence after World War II, Libya was divided into three regions -- Cyrenaica in the east, Fezzan in the southwest and Tripolitania in the north.Those regions were done away before Kadhafi seized power in 1969, but they were not forgotten.On Saturday, Cyrenaica's Barassi insisted his group did not seek the partition of Libya. "Oil revenues will be shared by the three regions," he said.

 


AFP




  MENA News Headlines
 Feb 26 2017 - Qatar Islamic Bank gets nod to raise AT1 Capital Sukuk limitThe Peninsula
(MENAFN - The Peninsula) Qatar Islamic Bank's (QIB) ordinary general assembly has given approval to increase the limit of the perpetual Sukuk (Additional Tier1 or AT1 Capital Sukuk) from QR5bn to ...

 Feb 26 2017 - Qatar Stock Index Gains 18.97 PointsThe Peninsula
(MENAFN - The Peninsula) Doha: Qatar Stock Exchange (QSE) index gained 18.97 points (+0.17%) when the bourse closed trading at 10,952.66 points Wednesday. The volume of shares traded increased ...

 Feb 26 2017 - Qatar- Action launches new corporate identityThe Peninsula
(MENAFN - The Peninsula) Action Global Communications yesterday announced the launch of its new corporate identity which reflects the company's strategic transformation now being led by its new ...

 Feb 26 2017 - Qatar- QICDRC appoints new JudgeThe Peninsula
(MENAFN - The Peninsula) The Qatar International Court and Dispute Resolution Centre (QICDRC) held its Annual General Meeting and appointed a new judge to the QFC Regulatory Tribunal. Lord ...

 Feb 26 2017 - Qatar Islamic Bank opens new branch at Awqaf TowerThe Peninsula
(MENAFN - The Peninsula) Qatar Islamic Bank (QIB)announced yesterday the official opening of a new branch at the Ministry of Endowment and Islamic Affairs (Awqaf) Tower in West Bay. Senior ...

 Feb 26 2017 - GCC firms 'should tap' non-bank options for fundsThe Peninsula
(MENAFN - The Peninsula) GCC businesses should explore alternative non-bank options available in the region to raise funds, rather than relying just on traditional sources of capital. Non-bank ...

 Feb 26 2017 - Qatar- QIC insured offers motor claims via WhatsAppThe Peninsula
(MENAFN - The Peninsula) QIC Insured, Qatar's leading insurer and the retail arm of QIC, yesterday announced the launch of a new service reporting motor claims directly through the call center or ...

 Feb 26 2017 - Ooredoo net profit rises by 4% to QR2.2bnThe Peninsula
(MENAFN - The Peninsula) Ooredoo Group's revenue touched QR33bn for the full-year of 2016, an improvement of 1 percent over 2015. In local currency terms, growth was driven by Ooredoo Qatar, Oman, ...

 Feb 26 2017 - Iran parliament stresses foreign investment in five-year economic planThe Peninsula
(MENAFN - The Peninsula) DUBAI: Iran's parliament passed a five-year economic development plan on Sunday that includes a sharp rise in foreign investment, though Tehran may not achieve that while ...

 Feb 26 2017 - Qatar- $50 oil price needed to spur investment: Al SadaThe Peninsula
(MENAFN - The Peninsula) Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada has said oil prices need to be higher than $50 a barrel to encourage oil sector investment. quot;You ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help