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24-10-20
Libya gets control back over oilfield
(MENAFN) Friday, October 23rd, the state-owned National Oil Corporation (NOC) on Libya's UN-backed government declared that they would be removing the state of force majeure on two of Libya's biggest oil harbors.
According to NOC predictions on the matter, the manufacturing process is going to reach 800,000 containers of crude oil every day within two weeks, and 1 million containers per day in four weeks.
On Sunday, October 11th, the NOC released that they would be removing the state of force majeure on Sharara oilfield that is the state's biggest oilfield.
Libya's most important source of income is oil production and exports, which was hindered by the eastern-based army since January, as a way to command evenhanded oil circulation.
The oil obstruction decreased the daily crude oil manufacturing process from more than 1.2 million containers to almost 100,000 containers.
MENAFN2410202000450000ID1101009704
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