LIBYA: Protesters gather outside the National Oil Corporation building in Tripoli to complain about corruption

Record ID: 343654

  • Title: LIBYA: Protesters gather outside the National Oil Corporation building in Tripoli to complain about corruption
  • Date: 10th October 2011
  • Summary: BANNER, READING IN ARABIC: "WE WANT AN IMMEDIATE CHANGE IN ADMINISTRATION" CLOSEUP OF PROTESTERS PROTESTERS MAKING VICTORY SIGN (SOUNDBITE) (English) UNIDENTIFIED MALE DEMONSTRATOR, SAYING: "We are here for the demand of change after all the revolution as during the whole six months time they were directly or indirectly supporting the army of Muammar Gaddafi. We are he
  • Embargoed: 25th October 2011 13:00
  • Keywords:
  • Location: Libya
  • Country: Libya
  • Topics: Crime / Law Enforcement,Conflict,Energy
  • Reuters ID: LVAE5G159A56RHR1P48RIELSES25
  • Story Text: Demonstrators gathered outside the offices of Libya's state-owned oil company on Sunday (October 9), to call for an end to corrupt practices.
    Dozens of protesters chanted on the steps leading to the entrance of the building as they waved placards and independence flags.
    "We are here for the demand of change after all the revolution as during the whole six months time they were directly or indirectly supporting the army of Muammar Gaddafi," said demonstrator.
    "We're on strike in order to eliminate what's left from the Gaddafi regime represented by the administration committee," added another demonstrator.
    Libya's prized light, sweet oil is trickling slowly onto the global spot market but demand from domestic refiners, production glitches and an internal struggle for control of the sector means it is unlikely to gush until deep into 2012.
    Oil production resumed in early September and since then a flurry of field restarts has surprised many analysts who have been pessimistic about recovery prospects. The National Oil Corporation (NOC) estimated Libya is pumping 350,000 barrels per day (bpd) and reiterated that full pre-war production was possible within 15 months.
    But very little of this has leaked onto the spot market. Just just two cargoes were exported in September, or a little over 2 percent of pre-war levels and many think the leap above the 1 mln bpd output hump could still be difficult.
    An emerging power struggle within the oil sector between rival government and industry factions with poorly-defined responsibilities is just one factor stalling production.
    These are being played out in the regional rivalry between the oil-rich east and the capital Tripoli, between interim rulers the National Transitional Council and within the NOC. Besides the loss of Libya's top oil official Shokri Ghanem who defected in June, many other key NOC staff have left in mysterious circumstances, Libyan industry sources said, amid allegations of corruption and ties with the former government.
    This has created confusion for foreign companies and there are already early signs that this is affecting daily operations, with workers for the Libyan firms Sirte Oil and Waha Oil going on strike in recent weeks.
    Relations between the NOC and its subsidiaries are also strained, with firms like Agoco, which played a key role during the revolution, likely to seek greater authority.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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