A legal counsellor for the forces loyal to Libyan general Khalifa Haftar and his interim government, Salah Abdul Kareem, has said that the country is prepared to export Libyan crude oil to Egypt in Egyptian Pounds (EGP) in order to ease the latter’s burden in securing foreign currency for fuel purchases.

According to the counsellor, the plan for oil exports to Egypt was presented to the Libyan House of Representatives, the National Oil Corporation (NOC) and the governor of the Central Bank of Libya.

This new development comes as Egypt’s Foreign Minister, Sameh Shoukry, said that Egypt supports the army’s move in safeguarding the country’s oil wealth while maintaining stability and security, Egypt Oil&Gas reports.

Forces loyal to Libyan general Khalifa Haftar seized two major oil export terminals as the Tripoli-based Government of National Accord (GNA), backed by the UN, fights to declare its authority over the oil-rich country.

The Petroleum Facilities Guard (PFG), who have managed the oil ports since the fall of Gaddafi’s regime in 2011, said they were able to regain control of Sidra and Ras Lanuf oil ports on late Saturday but Haftar’s forces, chased the PFG from Sidra and Ras Lanuf on Sunday.

The clashes affected the shipment of a tanker which was supposed to be the first shipment of oil to be exported from Ras Lanuf since 2014.

Anita Fatunji