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Libya announces force majeure at 11 oil fields

by ChemOrbis Editorial Team - content@chemorbis.com
  • 05/03/2015 (17:27)
Libya’s state-run National Oil Corporation (NOC) announced a force majeure at 11 oil fields due to ongoing armed clashes within the country, according to media reports. In a statement on the company’s website, the NOC reportedly stated that the company decided to declare force majeure in order to ensure security after an attack last month at one of its facilities left 12 people dead.

Sources reported that Libya’s oil output has decreased to about 400,000 barrels per day (bpd) because of the deteriorating security situation in the country. Libya had a production capacity of 1.6 million bpd before the 2011 rebellion.

Recently, the Mabruk and Bahi oil ports in the central region of the country as well as the Dahra oil field about 500 kilometers (310 miles) southeast of Tripoli have been attached. Mabruk, a joint venture with French oil major Total, has a production capacity of around 40,000 bpd. The NOC had declared force majeure on oil output from the Es Sider and Ras Lanuf oil ports in December, which have a combined capacity of 560,000 barrels a day.

Previously, the NOC had called on the government to take the necessary measures to protect the country’s oil fields from attack.
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