Libya's NOC lifts force majeure on Sidra and Ras Lanuf ports

The National Oil Corporation (NOC) declares lifting Force Majeure status as of Friday 23 October 2020 and instructions have already been given to start production arrangements subject to the standards of general security and safety precautions and the safety of the operations. 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.

As NOC highly commends the efforts exerted by all local and international parties, it undertakes to hold to the non-political professional principles, continues in performing its responsibilities and duties in a completely neutral manner and declares that as production resumes from Waha and Harouge fields, production level will reach 800 thousand bbl./day during two weeks and will exceed one million barrels in four weeks. The production of gas feeding power-generating units in Zueitina and north of Benghazi will also increase. However, non-obtaining the adequate financial allocations during these weeks to pay for the debts accrued in the oil sector and the required budgets to implement the maintenance and repairs operations, the results of blockades throughout the year 2020, prevent from the possibility of sustaining the mentioned-above production levels and at any case getting production levels to those that exist before the blockades will not be possible.