NOC lifts ‘force majeure’ on oil exports

NOC lifts ‘force majeure’ on oil exports

July 11, 2020 - 11:36
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Written By: RabiaGolden

The National Oil Corporation (NOC), has lifted ‘force majeure’ on all oil exports from Libya, noting that the oil tanker ‘Kriti Bastion’ was to be the first ship to load from Sidra Oil Port.

The NOC stated that a gradual increase of production will take some time, as a result of severe damage to the reservoirs and infrastructure, due to the imposed closure of the port, which has been in place since January 17 of this year.

The Head of the Corporation, Mustafa Sanallah, stated that the NOC has begun its vital work, adding that it is now focusing on securing a budget to carry out crucial maintenance, explaining that the Corporation’s infrastructure has been permanently damaged.

He reiterated that serious steps needed to be taken to ensure that Libya’s oil production would not be subjected to such bargaining ever again.