NOC declares force majeure on Hariga and Zuetina oil ports

NOC declares force majeure on Hariga and Zuetina oil ports

July 02, 2018 - 12:59
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Written By: NewsDesk

The National Oil Corporation declared on Monday force majeure on crude exports at Hariga and Zuetina oil terminals, in addition to the state of force majeure at the Ras Lanuf and Es Sider terminals.

In a statement published on its website, the NOC said so-called “Libyan National Army (LNA)” has declined to retract its orders to hand over control of oil ports to the parallel NOC in east Libya.

“Despite our warning of the consequences and attempts to reason with the LNA General Command, two legitimate allocations were blocked from loading at Hariga and Zuetina this weekend. The storage tanks are full and production will now go offline.” Said NOC Chairman Mustafa Sanalla.

The NOC called Khalifa Haftar’s armed groups to lift the blockade and allow it to resume exports from the oil terminals, reiterating it’s “the only recognized Libyan entity responsible for the exploration, production and export of oil products, under both Libyan and international law.

The NOC confirmed that total daily production loss amounts to 850,000 bpd of crude, 710 million standard cubic feet per day (MMSCFD) of natural gas, and more than 20,000 bpd of condensate.

It added that the total daily revenue loss associated with the shutdown is estimated at $67.4 million, while the financial loss to the public purse since the attack on Es Sidra and Ras Lanuf on 14 June by Ibrahim Jadran is more than $650 million.