Transitional National Council Oil Sales (Taken Question)

Taken Question
Office of the Spokesperson
Washington, DC
June 20, 2011

Question: Has the Transitional National Council sold any more oil?

Answer: We are not aware of any additional oil sales since May 25, when a U.S. Oil Refiner, Tesoro, announced that it had purchased cargo aboard a tanker chartered by the Swiss oil trading company Vitol. On June 8, the MT EQUATOR, a Liberian flagged tanker, arrived at the Single Point Mooring in Barbers Point, Hawaii, delivering approximately 1.2M barrels of Libyan crude oil sold by the Transitional National Council (TNC). This cargo is the first confirmed cargo purchased from the Libyan TNC.

The United States has strongly encouraged sales of oil by the TNC to help meet the needs of the Libyan people. This sale followed the announcement of a new Libya General License and a new Statement of Licensing Policy April 26 by the Treasury Department’s Office of Foreign Assets Control. These actions were taken to ease sanctions barriers to U.S. persons' participation in certain oil sales and related transactions with the TNC.

U.S. support for oil sales by the TNC reflects its support for the people of Libya and responds to their need to raise revenue by selling oil and gas. We hope that it will encourage other companies in the United States and elsewhere to continue to purchase oil from the TNC. 

PRN: 2011/1010