A new group calling itself the Supreme Council for Oil, Gas and Water Resources in the Oases and the Basin has threatened to block the flow of crude oil from fields in eastern Libya to the oil export terminals, also in eastern Libya, since all the revenues are going to the central bank in Tripoli, in the west. The Supreme Council considers the Libyan Presidential Council headed by GNA Prime Minister Fayez al-Sarraj and presiding over the government unconstitutional and opposes the fact that revenues from oil extracted from the eastern fields are flowing to the Presidential Council. It holds particular resentment towards a deal between the National Oil Corporation and commodity trading giant Glencore, under which the Swiss company will be able to market 230,000 bpd from two eastern fields, Sarir and Messla. The two fields together produce a bit above 170,000 bpd at the moment, accounting for more than 25 percent of Libya’s 700,000-bpd daily. Related: Obliterating ISIS May Hamper Iraqi Oil ProductionHowever, one ex-member of the GNA-affiliated Petroleum Facilities Guard that had the export terminals blocked for two years, crippling production, said that the Supreme Council for Oil, Gas and Water Resources is harmless.

Source: Libya Today April 07, 2017 15:00 UTC