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@kfm Mon, 17 Feb 2025 02:47:41

Libya’s first private oil firm grows in eastern commander’s shadows

By Reuters A Libyan company linked to the powerful faction that controls eastern Libya has exported oil worth at least $600 million since May, marking an end to the National Oil Corporation’s monopoly on exports, according to shipping records and U.N. experts. The shipments by the little-known Arkenu Oil Company, which was set up in 2023, are the first by a private Libyan company and mean some of the country’s oil revenue is likely being channelled away from the Central Bank of Libya. Ever since the fall of Muammar Gaddafi in 2011, Libya has been riven by disputes between armed factions and it is largely split, with an internationally recognised government based in Tripoli in the west and a rival […]

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