Libya’s National Oil Corporation chief also claims Wintershall colluded with unlawful efforts by Libyan government to grasp over sale of oil contractsA German oil producer has been accused by the head of Libya’s National Oil Corporation of withholding more than $900m (£697m) from the Libyan state and colluding with unlawful efforts by Libya’s UN-backed government to grasp over the sale of the country’s vastly profitable oil contracts.
The power struggle between the NOC and Wintershall – which denied that it owed any money and said it had always met its obligations to the state has long-term implications for global oil prices and the Libyan economy, since more than 80% of Libyan state revenues derive from oil.
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Source: theguardian.com