Libya Gears Up to Restart Oil Exports from Blocked Ports
Libya’s National Oil Corporation (NOC) revealed that it is working on restarting exports from three blocked oil ports, after the government reached an agreement with Libya’s Petroleum Facilities Guard (PFG) to reopen the ports of Ras Lanuf, Zuetina, and Es Sidra.
The ports, which were blocked due to a pay dispute, would now reopen without conditions, according to NOC.
The announcements was made as NOC received approval for budget funding, which would enable the company to raise production by over 900,000 b/d by the end of 2016.
“Now we will begin working with the Presidency Council and the Energy Committee of the House or Representatives to restart exports from the ports that were closed and from the fields that supply them. We need to be clear there are still big military, political and legal obstacles that must be resolved,” Eng Mustafa Sanalla, Chairman of NOC, said.
He added that the company plans to open discussions with international oil company partners “to indemnify NOC from liability before lifting the force majeure.”
The country’s oil exports are still experiencing issues as some production sites remain blocked, according to NOC.
In the West of Libya, 400,000 b/d of production is shut in at the Sharara and El-Feel fields.
World Maritime News Staff