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Libya: NOC imposes force majeure on oil terminals

Friday, 06 November 2015 20:48

In Libya, the National Oil Corp has imposed force majeure on one of its main oil terminals following the postponement of exports from it.

According to the company, the decision was taken after guards at the oil facility stated that they would allow no other tankers than those registered with the country's recognized government in the east to load crude. It added that the force majeure had been in effect since Tuesday, 3rd of November 2015.

Due to the shutdown at the Zueitina oil port, Libya's Nafoura and Al-Majid oil fields, which have a joint production capacity of approximately 29,000 bbls/d, were closed.

 As a matter of fact, Libya’s production has been hit by the clash between the two rival administrations since the fall of Muammar Gaddafi in 2012, when it used to produce 1.6 million b/d. Before exports were halted in Zueitina, production was at approximately 450,000 bpd, West Australian news report. 

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