An aframax owned by Thenamaris is reportedly loading a 600,000-bbl crude cargo for Glencore at Libya’s Al-Hariga port for export to the UK, after having previously been blocked from loading in the North African country.
In late April, Libya’s eastern government prevented Seachance (107,100 dwt, built 2004) from loading a crude cargo from the Tripoli-based National Oil Corp (NOC) at Al-Hariga. International traders and governments recognise Tripoli’s NOC as the sole legitimate exporter of crude from Libya.
The two heads of the rival east and west branches of the NOC met in Vienna last weekend and reached an agreement in principle to resume shipments, according to Reuters. Details of the deal were not disclosed.
The two rival companies have reportedly agreed to resume exports from Al-Hariga and to maintain operating condition of the pipelines, in order to avoid a looming cash crisis.
Al-Khaleej Al-Arabi Oil Company, which runs Al-Hariga port and nearby oilfields, has claimed that more funds are needed for maintenance and new pump and power equipment.
The end to the blockage is expected to boost Al-Hariga’s crude output to 120,000 bpd, up from 90,000 bpd before the Seachance shipment. Production has been limited by a lack of storage at the port, Bloomberg reports. Libya produced a total of 310,000 bpd in April, the newswire said.