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OIL: Libyan Eastern Based Parliament Agrees New Governor Nomination

OIL
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Libya’s eastern-based parliament agreed on Monday to approve the nomination of Naji Mohamed Issa Belqasem as the new governor of the central bank.

  • The eastern-based House of Representatives and the western-based High Council of State agreed on 26 September a deal to appoint Naji Mohamed Issa Belgasim as governor of the central bank and Marei Muftah Rhayyel Al-Bar'assi as deputy governor.
  • The deal to resolve the leadership central bank crisis is likely to see the Libyan National Army lift its oil blockade, although precise timing is unclear.
  • The El Sharara oil field is also likely to restart production when the blockade is lifted according to an Argus source.
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Libya’s eastern-based parliament agreed on Monday to approve the nomination of Naji Mohamed Issa Belqasem as the new governor of the central bank.

  • The eastern-based House of Representatives and the western-based High Council of State agreed on 26 September a deal to appoint Naji Mohamed Issa Belgasim as governor of the central bank and Marei Muftah Rhayyel Al-Bar'assi as deputy governor.
  • The deal to resolve the leadership central bank crisis is likely to see the Libyan National Army lift its oil blockade, although precise timing is unclear.
  • The El Sharara oil field is also likely to restart production when the blockade is lifted according to an Argus source.