NOC: Crude Oil Loadings Halted at Libya’s Zawiya Port
- Business & Finance
Libya’s National Oil Corporation (NOC) has declared force majeure on crude oil loadings at the country’s Zawiya port.
Force majeure, which commenced on July 20, 2019, is a result of Sharara pipeline valve closure.
As informed, Sharara pipeline valve was closed by an unidentified group between Hamada and the Zawiya port on thereby resulting in production being suspended.
Around 290,000 barrels per day (bpd) valued at USD 19 million per day has been forced offline. This has prevented NOC from carrying out crude oil loadings at the terminal.
Production at the El Feel oil field near Sharara is unaffected, NOC added.
“Criminal activity has required NOC to declare force majeure at Zawiya. Deliberate attempts to sabotage pipelines and production hurt both national oil revenues and critical power supply for everyday Libyans,” Mustafa Sanalla, NOC Chairman, commented.
“Akakus (NOC’s subsidiary) security personnel and engineers are investigating the incident and working to quickly restore production. The corporation, in partnership with relevant authorities, will find and prosecute those responsible for this unnecessary interruption.”