BRITISH FORCES TO BE DEPLOYED TO SEIZE BACK LIBYAN OIL FIELDS FROM ISIS

Everything is lower, but crude stocks. Go figure. We live in bizaaro land. But there are some interesting developments, as well as oil grabs, taking placed in Libya.

Four Islamic State militants and two petroleum guards were killed in the ongoing armed confrontations near Es Sider, al-Hasy said by phone. An oil storage tank was hit by a shell and caught fire, he said. The storage tank is close to the oil port of Ras Lanuf, Mohamed Elharari, spokesman of the state-run National Oil Corp., said by phone

“An oil storage tank caught fire and there was a big explosion,” Elharari said.

Islamic State militants previously tried to attack Es Sider in October, killing one guard, but were repelled at the gate of the terminal by the petroleum guards. Es Sider and Ras Lanuf terminals have been closed to oil exports since force majeure was declared in December 2014 when armed groups attacked the ports. Force majeure is a legal status protecting a party from liability if it can’t fulfill a contract for reasons beyond its control.

Libya, with Africa’s largest oil reserves, pumped about 1.6 million barrels a day of crude before the 2011 rebellion that ended Muammar Qaddafi’s 42-year rule. It’s now the smallest producer in the Organization of Petroleum Exporting Countries, producing 370,000 barrels a day in December, data compiled by Bloomberg show.

In response to ISIS fuckery, western nations, led by Britain, are deploying up to 6,000 soldiers to seize Libya’s top oil fields. No, that was not a typo.

SAS troops are understood to be preparing for an offensive involving 1,000 British soldiers to wrest back control of a dozen oil fields seized by the jihadists.

ISIS has taken advantage of the lawlessness since the 2011 ouster of Colonel Gaddafi to make large gains along the coastline, setting up its power base in the former dictator’s hometown of Sirte.

Mirroring its strategy in Iraq and Syria, the terror group has seized a number of revenue-boosting oil fields and are now targeting the Marsa al Brega refinery, the biggest in North Africa.

SAS troops are understood to be planning an offensive involving 1,000 British troops to seize back control of oil fields captured by the Islamic State in Libya after the country descended into chaos.

The operation will involve around 6,000 U.S. and European soldiers led by Italian forces, the SAS and military close observation experts from the Special Reconnaissance Regiment.
British experts will advise Libyan military commanders on so-called ‘battle-space management’ – tactics and skills needed to control the battlefield.

Don’t fuck with Rome’s oil.

This is the worst start to a New Year since 2001.