Libya Impounds North Korea Oil Tanker From Rebel-Held Port

Tyler Durden's picture


Two months ago we noted the clashes between the Libyan government and the rebels over selling oil. It appears the rising threats are reaching a crescendo as AABAA reports the Libyan Navy has impounded a North Korean oil tanker trying to export oil from a rebel-held port of Es-Sider, and is on its way to Western Libya. Interestingly this comes just a day after the US issued a statement strongly condemning "illicitly obtained oil from Libya." We suspect Kim will not be a happy tyrant this evening and also note that the rebels deny the vessel is under government control.


North Korea is trying...


The US is concerned its losing its grip on USD-priced oil...

Illicitly Obtained Oil from Libya


The United States is deeply concerned by reports that a vessel sailing under the name Morning Glory is loading a cargo of illicitly obtained oil at the Libyan port of As-Sidra. This action is counter to law and amounts to theft from the Libyan people. The oil belongs to the Libyan National Oil Company and its joint venture partners. These partners include U.S. companies in the Waha consortium.  


Any oil sales without authorization from these parties places purchasers at risk of exposure to civil liability, penalties and other possible sanctions in multiple jurisdictions.

And the Libyan Navy is clamping down...


Via Reuters,

Libyan government forces on Monday seized a tanker that had loaded crude at a port under the control of rebels who plan to sell oil independently of the Tripoli government, state-owned National Oil Corp (NOC) said.


The North Korea-flagged shipped was being escorted to western Libya, NOC spokesman Mohammed El-Harari told Reuters, confirming Libyan media reports.


Lawmaker Abdelwahab al-Qaim told Reuters: "The ship has been seized by government forces. There are no damages to the ship."


A rebel spokesman had earlier denied they had lost control of the ship.

Yet another red line for Obama to draw...

Via Bloomberg,

“The government should now actively seek a solution” with rebels in the self-proclaimed eastern region of Barqa, Asma Sraibah, a member of parliament, said yesterday in a telephone interview in the capital city. “It would be a disaster if the government loses its main source of revenue.”




The head of Libya’s General National Congress ordered the creation of a military force to “liberate the oil ports,” congress spokesman Omar Homaidan was cited by state-run LANA news agency as saying today. The mission will begin within a week from March 8, the day the order was issued, according to LANA.




Crude loading from Es Sider “would be significant for the oil market if it becomes regular,” Theodore Karasik, director of research at the Institute for Near East and Gulf Military Analysis in Dubai, said yesterday in a phone interview. The eastern government’s goal “is to make this regular, but it will be very difficult as Tripoli will try to interrupt the flow.”

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Mon, 03/10/2014 - 14:21 | 4531132 Johnny Cocknballs
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Seems the US-backed coup has some resistance from... the Libyan people.

Mon, 03/10/2014 - 14:31 | 4531174 NotApplicable
NotApplicable's picture

So... rebel activity is undermining the Empire?

I think I've seen this movie before.

Mon, 03/10/2014 - 14:35 | 4531197 ThirdWorldDude
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Nevertheless, with a "vessel sailing under the name Morning Glory."


They must've thought of Obambi upon naming her.

Mon, 03/10/2014 - 14:50 | 4531278 Manthong
Manthong's picture

Morning Glory? I’d bet there isn’t a sanitary or un-rusted spot on the scow.

Oh well,  game of H.O.R.S.E. with Rodman and he will forget all about it.

But Rodman needs to be a patriot and throw the game.

Mon, 03/10/2014 - 14:57 | 4531296 ZerOhead
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"This action is counter to law and amounts to theft from the Libyan people. The oil belongs to the Libyan National Oil Company and its joint venture partners. These partners include U.S. companies in the Waha consortium. "

The Waha consortium is owned 16% ConocoPhillips, 16% Marathon, 8% Hess and the balance belongs to the citizens of Libya (through the 'national' oil company) who will likely never see a dime of the revenues...

Mon, 03/10/2014 - 15:01 | 4531357 Manthong
Manthong's picture

gee.. I missed that important news.

Mon, 03/10/2014 - 15:31 | 4531538 lordylord
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Kim Jong-un was elected by 100% of the voters.  I doubt this news will rain on his parade (attendance mandatory).  In other news, the elections in the US are just as real!



Mon, 03/10/2014 - 15:47 | 4531637 Manthong
Manthong's picture

Almost like in Philadelphia for O'Bummer.

But the truly impressive thing here is how Pot Belly III got a 100% voter turnout over there.

Mon, 03/10/2014 - 16:02 | 4531711 lordylord
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If you bring this to the attention of a libtard, you are either a racist or a crazy conspiricy theorist.  A very small percentage will also claim that the ends justify the means or they will claim that Bush rigged the election as no big deal.  Perhaps Bush did rig the election in Florida, but does that give the almighty Obama and the liberals the right to do the same?  Liberals are a morally screwed up bunch.  It is nauseating to listen to their "rational".  

Mon, 03/10/2014 - 17:38 | 4532155 MillionDollarBoner_
MillionDollarBoner_'s picture

Why would anyone want to rig an election?

Its not like anything else is rigge...

Oh, wait...

Mon, 03/10/2014 - 19:04 | 4532508 ptolemy_newit
ptolemy_newit's picture

Geb did rig the election in Florida!

He simply sent the voting machine with poor Cpk to the areas of his choice.  Cpk is the repeatability and reproducibility effects of poor equipment and various users.

 A low Cpk and the equipment fails often.


It was so easy.



Mon, 03/10/2014 - 15:19 | 4531457 El Oregonian
El Oregonian's picture

"Oh well,  game of H.O.R.S.E. with Rodman and he will forget all about it".

You mean a game of HANGMAN with the pudgy little tyrant, don't you?

Mon, 03/10/2014 - 14:40 | 4531228 Johnny Cocknballs
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VICE had a decent docu on the Libyan uprising:

It was purely on the ground level, avoiding any real discussion of NATO's fuckery, or the motives re the petrodollar/Bretton Woods and Libya's still missing billions in gold. But essentially, the Eastern rebels seem to have been legit, and they are still fighting against the NATO-imposed government. Which, like the one in Kiev, really doesn't have any inherent legitimacy  {might, of course, makes right, is and has been the unwritten law of international relations since cavemen times}.


I wonder who/what owns Libya's shiny new privately owned central bank. 

Mon, 03/10/2014 - 15:11 | 4531426 DeadFred
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I thought Libya was fixed. If we brought them regime change and democracy how come there are rebels, I'm confused.

Mon, 03/10/2014 - 14:33 | 4531188 USA USA
USA USA's picture

Why should we give a "Flying Fuck" what Damn boat has Who's Damn oil in it!!!!!!!!!!!!!!!!!!!!!!

God it's hard bing the Worlds Policeman/Woman/Whatever.

Mon, 03/10/2014 - 14:36 | 4531204 Flakmeister
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So can you name the U.S. stooges that are running Libya?

Seems the locals in the east, the ones tha orginally showed Khadafi was ready to toppled with a tiniest hint of a push, are simply continuing their call for more power, aka, oil revenues...

Mon, 03/10/2014 - 14:59 | 4531343 earnyermoney
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Some funny quotes in this article.


"The oil belongs to the Libyan ..." LOL. It belongs to the oil companies of the West.

""It would be a disaster if the government loses the main source of it's revenue..." LOL It's a disaster if the West loses control of it's oil.

"create a military force to liberate the oil ports..." LOL Queue NATO bombing campaign under the guise of "protecting the oil wells...".

Epic fail of Barry and Hitlery.

Mon, 03/10/2014 - 14:43 | 4531238 skwid vacuous
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send ms. nudelman and her cookies to Libya for some re-convincing... her work in Ukraine is complete, but surely her diplomatic skills are needed elsewhere? 

Mon, 03/10/2014 - 14:43 | 4531243 williambanzai7
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Mon, 03/10/2014 - 14:50 | 4531284 waterwitch
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Is that a Dennis Rodman ear piercing I see?

Mon, 03/10/2014 - 14:51 | 4531298 g'kar
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The lead singer of Motorhead.

Mon, 03/10/2014 - 15:37 | 4531574 superflex
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Mon, 03/10/2014 - 16:20 | 4531839 Chuck Knoblauch
Mon, 03/10/2014 - 15:04 | 4531383 rotagen
rotagen's picture

Must ... stop ... giggling ... at Cartoon-faced Korean...... must .... read.... article....

Mon, 03/10/2014 - 16:28 | 4531883 Volkodav
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Who here knows more about actual situation in Libya?


Mon, 03/10/2014 - 14:22 | 4531134 ZeroPoint
ZeroPoint's picture

The petro-dollar is finished. If not this year, then next. Is your prepping done?


Mon, 03/10/2014 - 14:26 | 4531152 highly debtful
highly debtful's picture

All joking aside, I hope America fully realises what the consequences of losing the privilege of the reserve currency will be. Because it will be nothing less than outright devastating. Prepare accordingly indeed.  

Mon, 03/10/2014 - 14:33 | 4531184 kchrisc
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And even better, as the Petrodollar goes gone, trillions of Petrodollars will at the same time come flowing back to the DC US. The DC US will be the first nation to impose capital-controls on INFLOWING currency.
The American people will then see:
1) Astronomical price inflation.
2) Little to buy at Walmart, including essentials, as foreigners won't sell and we no longer produce.
3) Foreigners own everything.

"Prepare accordingly indeed" and it's never too early to start work on that guillotine.

Mon, 03/10/2014 - 14:46 | 4531226 Flakmeister
Flakmeister's picture

It all sound very impressive but it has little do with reality...

But those foreign petro dollars exist primarily in the form of debt and when the petodollar fails, a lot of that the debt is going to money heaven...

Mon, 03/10/2014 - 14:41 | 4531232 Ifigenia
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how come US impose capital-control of inflowing US dollars? Will it not regonised his own currency?

Mon, 03/10/2014 - 17:23 | 4532084 kchrisc
kchrisc's picture

Because billions of dollars reside overseas in one form or fashion. When foreigners realize that they are nearly worthless, there will be a mad scramble to get out of the dollar and into hard assets. However, overseas holders of hard assets are not going to want dollars either, so by hook and crook those dollars will come "home" to purchase any and everything in the DC US that can be had.

So if you are treasonous pols, crats and banksters trying to keep the ponzi going, you will institute capital-controls on INFLOWING dollars.

Or put another way: The inflation that the DC US has exported over all these years will come home to roost like a swarm hungry of black swans.

Mon, 03/10/2014 - 14:39 | 4531224 Ifigenia
Ifigenia's picture

as long as democracy prevail, no problema.

Mon, 03/10/2014 - 16:19 | 4531834 SilverRhino
SilverRhino's picture

Greenbacks (old foreign held dollars) and Bluebacks (new domestic bills) .... Damn ...  Escape from LA was right.  

Decouple the SWIFT system for two days and redenominate the acocunts.  

POOF ... we just got solvent again, but the bankers would lose trillions.   


Mon, 03/10/2014 - 14:22 | 4531135 highly debtful
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Kim Jong Un doesn't look too happy. Perhaps not enough votes in these past elections? 

Mon, 03/10/2014 - 14:30 | 4531139 JustPrintMoreDuh
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This meanz WAL you Ribyan Plicks!

Mon, 03/10/2014 - 14:23 | 4531141 the not so migh...
the not so mighty maximiza's picture

They are trying to provoke a war no matter what to cover up the clusterfuck banker economy

Mon, 03/10/2014 - 14:23 | 4531143 Cangaroo.TNT
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Someone's liberty is being violated!  Quick!  Start killing women and children!



Mon, 03/10/2014 - 14:38 | 4531161 Grande Tetons
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The United States is deeply concerned by reports that a vessel sailing under the name Morning Glory is loading a cargo of illicitly obtained oil at the Libyan port of As-Sidra.


Morning Glory, are you shitting me? I can just see reading the following headline in the future. 


Morning Glory spews load after hand combat ensues. 

Mon, 03/10/2014 - 14:32 | 4531165 USA USA
USA USA's picture



Mon, 03/10/2014 - 14:34 | 4531182 Dr. Engali
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How long before the mental midget starts screaming "this outrage can only lead to thermo nuclear war!" followed by feeding a filthy uncle to the dogs?

Mon, 03/10/2014 - 14:57 | 4531321 Chuck Knoblauch
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Send the brave Jesuit infiltrators into North Korea. They will promise the little shit the title, King of Korea!

He just may go for it!

Sorry South Korea, but it's for the greater good.

Mon, 03/10/2014 - 14:59 | 4531340 LFMayor
LFMayor's picture

LOL, no doubt.  We should send Michael Vic as our next goodwill ambassador to N.K.

Mon, 03/10/2014 - 14:35 | 4531199 Hail Spode
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I am curios as to how the Libyan government took control of this vessel, presumably at sea since the rebels still control the port.   I thought Libya's navy was destroyed after it was an effective force for Quadaffi in the war.  What did they have left to intercept this tanker with?

Mon, 03/10/2014 - 14:39 | 4531225 suteibu
suteibu's picture

To be sure, the new, pro-Western Libya got something for all of the pillaged gold and oil.  Besides, someone has to protect the interests of the West now, right?

Mon, 03/10/2014 - 14:39 | 4531221 Cornholiovanderbilt
Cornholiovanderbilt's picture

What exactly going to replace the petro $$?  The world is proving that they are always 1 step ahead of us in the dumbfuk movement.  I used to be worried but the incompetence is staggering and we still have the USMC.

Mon, 03/10/2014 - 14:41 | 4531233 Debugas
Debugas's picture

next tanker will come fore more oil with a nuke attached (just in case)

Mon, 03/10/2014 - 14:53 | 4531234 Chuck Knoblauch
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Release the KRAKEN!

Mon, 03/10/2014 - 14:45 | 4531259 1000yrdstare
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I am surprised he did'nt feed his barber to the dogs.....fucking bad helmet...

Mon, 03/10/2014 - 14:45 | 4531260 Poor Grogman
Poor Grogman's picture

Independent oil sales via an independently controlled port?!

The nerve of some people!

Next they will want boxes of barbaric relics as payment.!

This is clearly unacceptable to the cartel...

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