NOC declares force majeure on Sharara crude oil loadings at Zawiya port

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NOC declares force majeure on Sharara crude oil loadings at Zawiya port

July 21, 2019 - 11:18
Written by: NewsDesk

The National Oil Corporation (NOC) declared Saturday a state of force majeure on crude oil loadings at Zawiya port as a result of an unlawful Sharara pipeline valve closure by an unidentified group between Hamada and the Zawiya port.

Around 290,000 barrels per day (bpd) has been forced offline (valued at 19 million USD per day) preventing NOC from carrying out crude oil loadings at the terminal, the NOC stated.

The valve closure will affect crude oil supplies to Ubari power plant. The General Electricity Company of Libya that the fourth turbine of the plant, which mainly depends on crude oil, will be forced to stop once oil stock runs out.