Libya's National Oil Corporation (NOC) has declared force majeure at the oil export ports of Sidra and Ras Lanuf and the Al-Fil field due to the political crisis in the republic, a statement issued Thursday evening on the company's official website reads.
"We have repeatedly tried to avoid force majeure, but now it has become impossible to fulfill our commitments," NOC head Mustafa Sanalla said. - "We are forced to declare force majeure in the ports of Sidra and Ras Lanuf and in the Al-Fil oil field. In addition, the state of force majeure will remain in the ports of Brega and Zuwetina".
Sanalla drew attention to the "inadmissibility of using oil as a bargaining chip" in politics and held the parties to the Libyan conflict responsible for the disruption of the ports.
According to the company, as a result of the closure of a number of oil facilities, losses to date have exceeded $3.5 billion. Also, the volume of exports is now 365-409 thousand barrels per day (bpd), which is 865 thousand bpd less than previous figures. In addition, due to the suspension of work at several gas fields, Libya is now producing 6 million cubic meters of natural gas per day less.
Earlier Bloomberg reported with reference to sources that NOC stopped export deliveries only through Ras Lanuf.
In early April, protesters acting in support of the new head of government elected by Parliament, Fathi Bashagha, blocked the work of the main export ports of the "oil crescent" (Gulf of Sirte coast) and fields. As a result, one after another force majeure was declared in the ports of Zuwetina and Brega, then oil production was stopped in some fields. The declaration of force majeure implies the occurrence of force majeure circumstances, leading to the suspension of work at the site, and state agencies are not legally liable due to the failure to fulfill oil contracts.
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Based on materials from TASS