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block oil exports and sell what they can to fly-by-night tankers

CRUDE oil shipments from Libya have fallen 70 per cent in January and February because of blockages by rebels, according to Lloyd's List Intelligence.

block oil exports and sell what they can to fly-by-night tankers

CRUDE oil shipments from Libya have fallen 70 per cent in January and February because of blockages by rebels, according to Lloyd's List Intelligence.

block oil exports and sell what they can to fly-by-night tankers
17 March 2014 - 17:49

Libyan rebels block oil exports and sell what they can to fly-by-night tankers

CRUDE oil shipments from Libya have fallen 70 per cent in January and February because of blockages by rebels, according to Lloyd's List Intelligence.

Shipments are by far the lowest out of Libya over the last five years, highlighting rebel groups' success disrupting the country's tanker shipments.

Rebel groups stepped up their control over the country's eastern ports in the middle of 2013, production slowed and shipments dwindled, reported Lloyd's List.

The 35,583-dwt tanker Morning Glory took on an unauthorised loading of oil at a rebel-held port, was pursued by the Libyan military, and is now reported to be in Egypt's waters.

Lloyd's List Intelligence data shows that in January and February this year, 32 shipments of crude were made from Libya, down drastically from 107 shipments in January and February 2013.

In the latter stages of the Muammar Gaddafi's regime in 2011, there were 110 shipments. In January and February 2012, Libya recorded 99 shipments. Shipments averaged 61 a month in 2010, the figure dropped to 24 a month in 2011 during the civil war that ousted him.

In the last half of 2013, shipments averaged 17 per month, with only eight in November and nine in December.



The latest fall in shipments follows a return to almost full strength in 2012 that led many in the oil and shipping industries to praise Libya's ability to get its exports back on track, said Lloyd's List.

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