Libya..Oil Corporation announces case "irresistible force"

The National Oil Corporation of Libya on Thursday decided to declare force majeure in the oil ports of Sidra and Ras Lanuf in the Gulf of Sirte.

The announcement was made after the expiration of the 72 hour time limit she had set three days earlier for this procedure, where she stated Libyan Foundation in a statement To a loss of more than 16 billion dinars due to the closure of the ports of Brega and Zueitin since mid-April and a number of oil fields in the southwest and east of the country.

The Corporation confirmed in a statement that “according to this announcement, it has become impossible, among other things, to supply the Zuetina, North Benghazi and Sarir power plants with their natural gas needs, since crude oil production is associated with gas from the field of Waha and Mellita companies” , which has led us to interruptions in the supply of natural gas to the coastline.”

The head of the foundation, Mustafa Sanalla, commented on the procedure, saying: “We have run out of patience after repeatedly trying to avoid declaring a force majeure state, but fulfilling our obligations has become impossible, and we are forced to declare force majeure in the ports (Al Sidra and Ras Lanuf) in addition to Elephant Field with the continuation of force majeure in the ports of Brega and Zueytin.

Sanalla added: “Today, more than ever, we are facing onerous challenges in our inability to meet the needs of vital facilities in the country with fuel,” noting that the exchange of crude oil from existing production for liquid fuels is at stake, as a result of a sharp drop in production, as well as a disruption in production. Replenishment of the fuel account in hard currency due to the refusal of the Central Bank and the Ministry of Finance to eliminate deductions in US dollars.

The head of the NOC did not rule out an escalation of the crisis in the summer season if oil production is not resumed or the current fuel shortage is not resolved, pointing out the erroneous beliefs of politicians tied to the oil issue.

He stated that the political differences were correct, but the mistake of using oil provided the Libyans with a bargaining chip, calling it “the unforgivable sin”.

Sanalla confirmed that the National Oil Corporation and its subsidiaries will continue to fulfill their duties and responsibilities, but we must, according to this statement, bear full responsibility for the parties that caused the crisis that we see coming these days.

Source: Libya “gateway to the center”

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