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Libya declares force majeure on major oil port following oilfield closure

NOC declared force majeure on major oilfields after protesters stormed the facilities and shut down the production.

Tripoli, Libya | Xinhua | Libya’s state-owned National Oil Corporation (NOC) on Tuesday declared a state of force majeure on the eastern port of Brega, after the closure of two oilfields in the past two days.

NOC made the decision “because it is impossible to implement its commitments towards the oil market” following a new wave of crude production closure in the town of Brega, the company said in a statement.

“The NOC warns that the shutdown of production at Sirte oil and gas production and manufacturing company, will have implications for the stability of the public electricity network, especially the eastern region, as most power plants feed on gas produced from the company’s fields,” it said.

During the last two days, NOC declared force majeure on major oilfields after protesters stormed the facilities and shut down the production.

The North African country currently produces 1.2 million barrels of crude oil per day, according to government statistics.

Libya’s hydrocarbon sector, which represents a major source of national revenue, has suffered from armed conflicts and closures of oil fields and ports over the past years.

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Xinhua

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