Weeks of domestic and international ‘‘ongoing negotiations to lift oil blockade’’, leaks of potential Libya oil revenue distribution agreementBy Sami Zaptia. London, 30 June 2020:Libya’s state National Oil Corporation (NOC) announced yesterday that it is hopeful that Libya’s oil blockade will be lifted soon. NOC is determined that the agreement will guarantee transparency and that oil revenues will achieve social justice for all Libyans. Today it revealed that the 164-day oil blockade has cost Libya US$ 6.3 bn in lost potential revenues. One is a version of the Iraq ‘‘food for oil’’ scheme where the international community would oversee how Libya’s oil revenues are distributed.

Source: Libya Today June 30, 2020 21:56 UTC