UN hosts talks in Tripoli to resolve Libya's central bank crisis
Adds details and background
TRIPOLI, Sept 2 (Reuters) - The United Nations Support Mission in Libya said it held talks in Tripoli on Monday to help resolve a central bank crisis that sparked a blockade of oil production and threatens the worst crisis in years for the major energy exporter.
The standoff was triggered when Western factions moved last month to oust veteran governor Sadiq al-Kabir and replace him with a rival board, leading Eastern factions to shut down all oil production.
In its statement, UNSMIL said the consultations were concluded with 'significant' understanding and the two sides agreed to submit a draft agreement to their respective chambers for review, with the goal of finalizing and signing the agreement on Tuesday.
Oil prices edged higher on Monday, recovering some losses from late last week, as Libyan oil exports remained halted and concerns about higher OPEC+ production from October eased.
Representatives from Libya's House of Representatives and High Council of State on one side and the Presidential Council on the other participated in the talks hosted by UNSMIL which lasted from morning until late into the night, the statement said.
Libya's central bank (CBL) is the sole legal repository for Libyan oil revenues and it pays state salaries across the country. If those functions are compromised by the current crisis, Libyans will soon feel the pinch.
If the struggle for control is prolonged, all state salaries, transfers between banks and letters of credit needed for imports will become impossible, freezing up the economy and Libya's international trade.
Eastern factions, including the House of Representatives (HoR) parliament led by speaker Aguila Saleh and the Libyan National Army (LNA) under commander Khalifa Haftar, oppose the Tripoli-based Presidency Council's bid to oust CBL governor al-Kabir.
The eastern side's oil blockade will gradually starve the CBL of new funds, as well as reducing condensate available for power plants, meaning long electricity blackouts may soon return.
As a result of the oilfields closures, the state-owned National Oil Corporation (NOC) said total production had plunged to just over 591,000 bpd by Aug. 28 from nearly 959,000 bpd on Aug. 26, amounting to losses of over $120 million over the three days. Production was at about 1.28 million bpd on July 20, NOC said.
The crisis threatens to end a four-year period of relative peace in the OPEC member that for a decade has been split between eastern and western factions that have drawn backing from Russia and Turkey, respectively.
As the state crumbled between rival factions, the CBL and National Oil Corporation (NOC), the state energy producer, were held off limits, ensuring some governmental functions continued.
Reporting by Jaidaa Taha; Writing by Adam Makary and Yomna Ehab; Editing by Deepa Babington and Andrea Ricci
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
