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FinancialNews
18-04-22
Libya’s National Oil Corporation cancels crude production till further notice
(MENAFN) On Sunday, Libya’s National Oil Corporation (NOC) announced force majeure on crude oil exports from the El-Feel oilfield located in the nation’s southwest side.
Based on the state-owned firm statement, crude production was put on hold until further notice after a group of individuals went into the facility and stopped staffs from working, but it did not, recognize this group of individuals.
Announcing force majeure allows the firm to absolve itself from lawful duty regarding its obligations towards consumers.
Tribal leaders in the southern part of the country earlier declared that they were stopping production from the oilfield until Prime Minister Abdul Hamid Dbeibeh gives authority to the recently formed administration of Fathi Bashagha.
MENAFN18042022000045013568ID1104038122
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