Libya’s NOC Could Be Split By Baida Power Grab

Libya’s officially-recognized eastern government is pressing on with the creation of independent oil institutions, despite the professed neutrality of Tripoli-based NOC. This risks cementing division and complicates peace talks, while a mooted deal to re-open key oil ports could intensify the dispute.

Abd Allah al-Thinni, Prime Minister of Libya’s internationally recognized government based in the eastern coastal town of Baida, has authorized officials of the eastern branch of the National Oil Corporation (NOC) to channel oil revenues to a new account, he announced on 4 April.

Revenues will be paid into an account in the UAE, from where they would be transferred to a Central Bank of Libya (CBL) branch in Baida, he said. (CONTINUED - 2024 WORDS)