NOC Lifts Force Majeure on Major Libya Oil Ports

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The National Oil Corporation (NOC) announced the lifting of its force majeure on both the Sidra and Ras Lanuf oil fields. It confirmed that all foreign forces have left the ports, and it is now able carry out its operations.

The NOC has instructed the start of production arrangements, and the observation of the security and safety standards.

It stated that it valued the efforts made by all local and international parties to reopen the oil fields. The NOC also noted that it pledges to adhere to the professional and non-political constants.

“As production resumes at the Al-Waha and Al-Harouge fields, overall production in Libya is expected to reach 800,000 bpd within two weeks. It is expected to exceed one million barrels within 4 weeks,” the NOC noted.

It also indicated that natural gas production will increase at the electric power plants of Zueitina, and North Benghazi areas.

Field Marshal Khalifa Haftar announced the resumption of oil production and export “as long as funds are not used to finance terrorism.”

Libya’s daily oil production was more than 1.2 million bpd, before the blockade took place in January.