No Fly Zone Succeeds: Libyan Rebels To Sell First Oil Cargo

Zero Hedge
April 4, 2011

And so the real goal of the Libyan “No Fly Zone” succeeds: Reuters reports that the Libyan rebel alliance, which already has its own central bank and supposedly fiat printing machines, is about to sell its first oil cargo in the coming week.”The agency said Liberian-registered tanker Equator was due to arrive in the rebel-held eastern Libyan port of Tobruk on Monday to load a cargo of Serir/Mesla blend crude oil. The agency quoted Wahid Bougaighis, head of the newly established oil company, as saying: “They are coming for sure because there was a contract signed already.”" It remains to be seen how K-Daf feels about honoring contracts signed by insurgents. In the meantime, the chocolate lovers lobby is finally stirring about imposing a comparable No Fly Zone in Ivory Coast. You know, for human rights violations.

From Reuters:

Libyan rebels will this week load the first tanker with crude since an uprising against leader Muammar Gaddafi fully suspended exports from the North African country, Platts news agency reported on Monday.

The agency said Liberian-registered tanker Equator was due to arrive in the rebel-held eastern Libyan port of Tobruk on Monday to load a cargo of Serir/Mesla blend crude oil.

The agency quoted Wahid Bougaighis, head of the newly established oil company, as saying: “They are coming for sure because there was a contract signed already.”

He gave no other details. Reuters could not reach Bougaighis for comment.

The rebel-led government has said it has concluded a deal with Qatar to market crude oil

The rebel movement has also said it is discussing plans to exempt its oil exports from sanctions and has also raised the issue with a U.N. envoy.

This article was posted: Monday, April 4, 2011 at 6:51 am

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