Libyan NOC declares force majeure on Zueitina port exports, warns of closures amid crude price boom

Libyan NOC declares force majeure on Zueitina port exports, warns of closures amid crude price boom

April 18, 2022 - 18:40
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Written By: AbdulkaderAssad

The National Oil Corporation (NOC) has announced the state of force majeure on Zueitina port, and warned of the start of a painful wave of closures at the time of the oil and gas price boom in global markets.

NOC said Monday in a statement that the interruptions were caused by the entry of a group of individuals into the port of Zueitina and prevented workers from continuing to start exports, which made it impossible for the NOC to implement its contractual obligations.

"After the forced closure of the Al-Feel field last night, workers of the companies: Zueitina, Mellitah, Sarir and AGOCO on Sunday, April 17, 2022, were forced to completely and gradually shut down production, including fields: Abuatufol, Al-Intisar, Anakhla and Nafura produced through Zueitina, in addition to shutting production of the gas plant at the port of Zueitina was shut down and therefore shut down production of cooking gas while electricity production will be affected in Zueitina stations and northern Benghazi partially, and the shortage of condensates will lead to a shortage of cooking gas supplies in the eastern region." The NOC explained.

NOC Chairman Mustafa Sanallah said the NOC was obliged to declare a state of force majeure on the oil port of Zueitina, including all fields and producing stations associated with this port and shipping facilities until further notice.

"We all have the same eye, but some politicians don’t have the same view. The NOC has always stressed the importance of neutralizing the oil sector and avoiding the political conflicts in the country, and warned against being dragged behind calls that do not serve the interests of the nation and the citizen. We urge the general Libyan people to form a local public opinion aimed at maintaining the flow of oil to the world markets and taking advantage of the current price boom, all with the aim of promoting the country and repairing what has been destroyed by the wars." Sanallah said.