NOC lifts force majeure status on Sidra, Ras Lanuf ports

NOC lifts force majeure status on Sidra, Ras Lanuf ports

October 24, 2020 - 12:30
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Written By: SafaAlharathy

The National Oil Corporation (NOC) declared on Friday lifting the force majeure status on the ports of Sidra and Ras Lanuf, reaffirming it had given instructions to start production arrangements subject to the standards of general security and safety precautions and the safety of the operation.

"The National Oil Corporation has received confirmations that the foreign forces had left the ports area which will enable it to perform its oil operations and resume exports," a statement by the NOC said on Facebook.

The company praised the efforts exerted by all local and international parties, pledging to adhere to the non-political professional principles, and continue to perform its responsibilities in a completely neutral manner.

It indicated that the country's production of crude will reach 800 thousand barrels per day in two weeks' time and will exceed one million barrels in four weeks, ensuring that production of gas feeding power-generating units in Zueitina and north of Benghazi will also increase.

However, it did note that it is not possible to recoup the production levels to those that exist before the blockades.

The NOC lacks the adequate financial allocations to pay for the debts accrued in the oil sector and the required budgets to implement the maintenance and repairs operations for the damage caused by the oil closures, explains the state's oil company.