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Libyan National Oil Corporation condemn sale of illicit Libyan crude oil

The Libyan National Oil Corporation and the U.S. Department of State condemned the illicit sale of oil by Libyan militias who took control of the main ports more than six months ago. Both entities warned they would pursue penalties and "remedies."
By JC Finley   |   March 10, 2014 at 7:55 PM   |   Comments

TRIPOLI, Libya, March 10 (UPI) -- The Libyan National Oil Corporation denounced the illegal sale of crude oil that was aboard a vessel identified as "Morning Glory" and warned it would pursue "remedies to preserve and enforce its rights..."

Libya's National Oil Corporation issued a press release regarding the stolen property and illicit transaction.

"The Libyan National Oil Corporation (“NOC”) wishes to make clear that the crude oil loaded upon the vessel 'Morning Glory,' which is now at Essider Terminal in Libya, is the property of NOC and its Partners. No person or entity except the NOC and its legitimate partners may transfer title to such crude oil, and no such transfer has occurred. NOC will pursue all of its remedies to preserve and enforce its rights over the cargo and to hold responsible all the parties participating in illicit transactions relating to it in any jurisdiction, both within and outside of Libya."

The U.S. Department of State also condemned the theft of NOC's oil and released a press statement to that effect:

"The United States is deeply concerned by reports that a vessel sailing under the name Morning Glory is loading a cargo of illicitly obtained oil at the Libyan port of As-Sidra. This action is counter to law and amounts to theft from the Libyan people. The oil belongs to the Libyan National Oil Company and its joint venture partners. These partners include U.S. companies in the Waha consortium. Any oil sales without authorization from these parties places purchasers at risk of exposure to civil liability, penalties and other possible sanctions in multiple jurisdictions."

The New York Times reported that Libyan militia -- who have blockaded the main ports for more than six months -- began selling oil illegally for the first time on Saturday, marking "the most ominous indication yet that the nation is at risk of coming apart at the seams."

[National Oil Corporation]
[State Department]
[New York Times]

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