A statement issued in the name of Libya's state-owned NOC has rejected attempts by the internationally recognised government to stop oil revenues from reaching the country's central bank.
"As part of the NOC and its affiliate companies' responsibilities under the existing legal framework as custodian of the country's hydrocarbon assets, the NOC confirms to all customers and stakeholders in the oil and gas market that it is the sole and exclusive legal body authorised to manage all affairs related to oil and gas (including petrochemicals) for the state of Libya during this transitional period," the firm said on its website.
NOC also threatened legal action against "any illicit attempts by state agencies, companies, affiliates, organisations, individuals in-country or abroad who attempt to operate outside the existing NOC legal, financial, commercial service frameworks and contracts".
Last week, Abdallah al-Thinni, head of the Tobruk-based government, said his government planned within weeks to change the payment system in coordination with banks and NOC to divert oil revenues away from the central bank in Tripoli.
Thinni's government replaced the heads of the central bank and NOC in Tripoli in recent months but both officials continued in their work. The Thinni government wanted to exercise control over the bank to stop it making payments to the Tripoli government. In order to maintain its neutrality, the bank has been paying public sector salaries, which span supporters of both governments, including militants.
Libya has had rival governments since a coalition of fighters known as Libya Dawn took over the capital Tripoli in August. The internationally recognised House of Representatives was forced to move to the eastern city of Tobruk and a separate national salvation government was formed in Tripoli, which is also home to the central bank and NOC. Both institutions have attempted to remain neutral in the conflict, but the increasing rivalry between the two governments is making them more and more embroiled in the conflict.
"NOC will continue to preserve, uphold and maintain all its professional obligations to the management and operations of Libya's hydrocarbon assets both in-country and abroad," the statement added.
NOC also said that crude is exported through long-term annual contracts in accordance with conditions of the agreement between Opec members and the International Chamber of Commerce, and these contracts are protected under international law. All oil and gas contracts are in line with the judicial guidelines and principles set forth in the Paris Chamber of Arbitration, NOC added.
NOC described any attempt to sell crude outside the laws and regulations set from its existing headquarters in Tripoli will be considered "theft and a criminal offence and a deliberate attempt to violate the state's sovereignty and will be held liable under Libyan and International court of law".
"NOC [confirms] that there will be no institutional vacuum and shall remain an independent body free from direct political affairs, and as the only trustee shall manage the country's hydrocarbon assets … and any attempt to undermine NOC as independent institute will lead to accountability and legal action," the statement concluded.
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