Libya’s National Oil Company (NOC) announced on Thursday evening more than $3.5 billion in losses caused by the forced shutdown of major oil fields since mid-April and decided to “force majeure” on some objects. “After the end of 72 hours and the loss of more than 16 billion Libyan dinars. (about $3.59 billion, editor’s note), NAOC has decided to declare a state of force majeure” Regarding installations in the Gulf of Sirte (north), the company emphasized in a press release.
On Monday, he warned that he would have to apply “force majeure” within three days, if production and exports do not resume at the terminals in the Gulf of Sirte. Summon “force majeure”. releases the company from its contractual obligations, releasing it from any liability for non-performance thereof. “We are forced to declare force majeure at al-Sidra (East) and Ras Lanuf (East) terminals and al-Fil fields.” (south), said the head of the NOC, Mustafa Sanalla, citing the press release.
According to the NAOC, the production has “Seriously Fallen” and exports fell in between “365,000 and 409,000 b/d, ie a loss of 865,000 b/d.” compared to pre-crisis average production. Added to that is the loss of 220 million m3 of gas per day, which, however, is necessary to supply the electricity grid. The decline in gas production is contributing to the chronic power outages now experienced in Libya, which last for dozens of hours a day.
In chaos since the fall of Muammar Gaddafi’s regime in 2011 and torn apart by the country’s East-West divide, Libya, endowed with Africa’s most abundant resources, is in the grip of an inextricable crisis. . Two governments have been vying for power since March, one based in Tripoli and led by Abdelhamid Dbeybah from 2021, and the other led by Fathi Bachala and backed by the camp of Eastern strongman Marshal Khalifa Haftar.
Several oil fields and terminals were forcibly shut down in mid-April by groups close to the eastern camp, demanding the handover of power to Mr. Bachagha. The head of the NOC warned on Thursday against “the exploitation of the oil sector, the livelihood of Libyans” as an argument of political pressure.
Source: Le Figaro
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