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Agreement ends Libya’s oil standoff

03 July 2014, 08:28

Cairo - Libya's acting Prime Minister Abdullah al-Thinni said the government had reached a deal with rebels and had reassumed control of the country's two eastern oil terminals, which were blocked by rebels a year ago, Libyan television reported Wednesday.

Thinni confirmed that the government now controls the ports of Ras Lanuf and al-Sidra, which export about half of Libyan oil. He said the takeover came after an agreement with separatist rebel leader Ibrahim Jathran.

"We have taken control of Ras Lanuf and al-Sidra oil ports ... thus ending the oil crisis," Thinni was quoted as saying by the broadcaster.

In July 2013, militias in eastern Libya seized control of four key oil infrastructure sites.

Oil is the main source of revenue for the North African country, and the disruptions have cost the government and economy billions of dollars.

In April the government regained two of the oil terminals after a deal with the rebels, but Ras Lanuf and al-Sidra remained under rebel control.

The daily capacity of Ras Lanuf stands at 200 000 barrels per day, while al-Sidra has a capacity of 350 000 bpd.



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