An agreement on reopening the Zueitina and Marsa al-Hariga oil ports was signed in Zueitina on Sunday, with the ports of Ras Lanuf and Es Sider due to reopen in the next two to four weeks.
According to the terms of the agreement, the government will pay financial compensation to the rebels, drop legal charges against them and reverse its threat of a military crack-down in return for lifting of the blockade. There was also a pledge from Tripoli to hold an inquiry into oil industry corruption.
Platts reports that the ports had re-opened on Monday and would be able to load vessels in about 10 days.
In a statement, the office of Libya's Prime Minister Abdullah al-Thani said the agreement was reached "to spare the national economy more losses resulting from the locked-down ports."
When asked about the potential re-opening of the ports, one shipowner told Platts he would tread carefully before fixing any ships to transport cargoes from the region: "If all this happens plus the promises that Ras Lanuf and Es Sider will follow suit in two to three weeks then I will be happy."
Libya's two remaining and largest eastern oil terminals, Ras Lanuf and Es Sider, are due to reopen in the next two to four weeks under the same terms as Zueitina and Marsa al-Hariga, the agreement stated.
Restarting Ras Lanuf and Es Sider would be the most significant breakthrough for Libya since the eastern terminals were first blockaded in July last year.
(Picture: Zueitina Port)