In Libya Rival Factions Agree On Unified Oil Body

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On May 17, rival Libyan factions have reportedly reached an initial agreement to have one oil organisation for the wartorn country, the foreign minister of the Western-backed unity government said on Tuesday.

“These institutions can only be managed centrally. That’s why it was agreed that both institutions from east and west be united, so that there is only one oil company, one investment company and one central bank,” Reuters cites Mohammed Siyala.

However, the implementation of the agreement will be possible only after the additional negotiations.

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