NOC has lifted force majeure on all oil exports from Libya
“NOC lifts force majeure on oil exports but technical problems will keep production low”
National Oil Corporation (NOC) has lifted force majeure on all oil exports from Libya. The first vessel to load is the Kriti Bastion from Es Sider oil port.
The increase in production will take a long time due to the significant damage to reservoirs and infrastructure caused by the blockade imposed on January 17.
“We are very glad finally to be able to take this important step to national recovery, and I wish to thank all the parties to recent discussions for helping to bring about this successful outcome,” NOC Chairman Eng Mustafa Sanalla said. “This should be recognised as an important moment of common national purpose to build on to bring lasting peace and stability to the country.”
“For NOC, the work has just started. Our infrastructure has suffered lasting damage, and our focus now must be on maintenance and securing a budget for the work to be done. We also must take steps to ensure Libya’s oil production is never again held to ransom.”