Libya restarts crude exports

Good news: Libya resumed oil exports over the weekend

Reuters/Scanpix

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News Wires

 09 July 2012 03:32 GMT

Three major oil exporting terminals in eastern Libya shut down by political protests have restarted, and production blocked by the move has resumed, the chairman of Libya's National Oil Corporation (NOC).

Local militia on Thursday enforced a 48-hour stoppage to protest against Saturday's election of a national assembly they complain does not adequately represent Libya's eastern region, slated to get 60 of the 200 seats, Reuters reported.

The election, the first in a generation in the North African country, went ahead despite violent protests on the day.

The stoppages at El-Sider, Ras Lanuf and Brega shut half of Libya's oil exporting capacity. Production of close to 1.6 million barrels per day was also cut by 300,000 bpd as a result of blockages at the…

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