Tripoli — Libya’s eastern zone had already declared political autonomy. This week, it also broke from the state-run oil company. Speaking in Ajdabia, “Political Bureau of Cyrenaica” (PBC) head Ibrahim Said al-Jadhran announced the formation of the “Libyan Oil and Gas Corporation”. “The wealth belongs to the entirety of Libya,” he told the press on Sunday (November 10th). The Executive Bureau of Cyrenaica issued a resolution to form the new company, which will begin operations in Tobruk before moving to Benghazi. “We are waiting for the reaction of the territories of Tripoli and Fezzan. We hope they co-operate with us,” Executive Bureau chief Abed Rabbo al-Barasi said. “After that, we will sell oil and will keep the shares of the territories of Tripoli and Fezzan from the oil sales, and we will not touch those proceeds,” he said. The move comes a fortnight after al-Barasi announced 24 portfolios for […]