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Libya’s NOC welcomes ceasefire announcement that supports ending oil blockade

The Libyan National Oil Corporation (NOC) welcomed Friday the statement of the Speaker of the House of Representatives and the Head of the Presidential Council supporting NOC’s proposal to resume production and export of oil and to freeze sales revenues in NOC accounts in the Libyan Foreign Bank.

“Revenues should remain frozen until a comprehensive political agreement is reached in line with the recommendations of the Berlin Process.” NOC said in a statement.

The NOC added that full transparency and effective governance are required as well as the return of security management of oil facilities to NOC’s exclusive control.

It also reiterated its call for all oil facilities to be freed from military occupation to ensure the security and safety of its workers.

“Once this has been done, NOC should be able to lift force majeure and re-commence oil export operations.” The statement reads.

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