Libya's National Oil Corporation said it would begin work immediately to restart exports from Oil Crescent ports.
"We welcome statements from the Libyan National Army allied with House of Representatives and the president of the HoR, Aguila Saleh, that the ports should be placed under NOC's control," said NOC chairman Mustafa Sanalla. “ our technical teams already started assessing what needs to be done to lift force majeure and restart exports as soon as possible."
"As Libyans we have a common interest in keeping our oil flowing. By raising oil production and exports we can reduce our budget deficit and pay for vital services."
“We can raise production to 600,000 b/d within four weeks and to 950,000 b/d by the end of the year from around 290,000 b/d at present. However, this is dependent on receiving essential funds from the budget and on the Oil Crescent ports and the closed pipelines in the southwest being opened and kept open.”
"I hope this marks the beginning of a new phase of cooperation and coexistence between Libya's factions, as well as an end to the use of the blockade as a political tactic."
Under a unity agreement signed in July, NOC recognizes the Presidency Council as the highest executive authority and the House of Representatives as the highest legislative authority. A central aim of the agreement is to ensure that Libya's oil wealth is used for the benefit of all Libyans.
All exports from Libya must be according to UN Security Council resolution 2259.
About National Oil Corporation
The National Oil Corporation (NOC) was established on 12 November 1970 , under Law No: 24/1970, replacing the general Libyan Petroleum Corporation which established under Law No. 13 of 1968 to assume the responsibility of the oil sector operations . It was later reorganized under decision No :10/1979 by the General Secretariat of the General People's Congress, to undertake the realization of the objectives of the development plan in the areas of petroleum , supporting the national economy through increasing , developing and exploiting the oil reserves and operating and investing in those reserves , to realize optimum returns. In carrying out its activities, NOC may enter into participation agreements with other companies and corporations carrying out similar activities.