Libya lifts force majeure on four oil ports

Libya’s National Oil Corporation (NOC) has announced the lifting of force majeure in the ports of Ras Lanuf, Es Sider, Hariga and Zuetina after eastern factions handed over the ports.

The restart of operations at Es Sider and Ras Lanuf, where workers were evacuated and storage tanks damaged in fighting last month, is expected to be gradual, while production and export operations at Hariga and Zuetina have been restored. Ras Lanuf and Es Sider terminals were shut when armed opponents of eastern-based commander Khalifa Haftar attacked them on June 14.

NOC chairman Eng Mustafa Sanalla said: “We need a proper national debate on the fair distribution of oil revenues. It is at the heart of the recent crisis. The real solution is transparency, so I renew my call on the responsible authorities, the Ministry of Finance and Central Bank, to publish budgets and detailed public expenditure. Libyan citizens should be able to see how every dinar and fil of their oil wealth is spent. I will work with other national stakeholders to enhance transparency and resolve this crisis – for the benefit of all our citizens.”

Eastern factions had effectively blockaded exports from the territory they control since late June, saying too much oil revenue processed through Tripoli was going to armed groups based in western Libya, including their rivals.

NOC and its subsidiaries are concentrating on managing the build up of operations, to maximise production, and overcome obstacles and losses incurred during the crisis of the last four weeks.

For more information, visit: www.noc.ly

13th July 2018