Ras Lanuf Refinery "Declares Force Majeure"

CNBC Arabia reports that the Ras Lanuf refinery -- Libya's largest -- has declared force majeure until 7th March as it continues to suffer from the effects of a strike and power cuts.

The plant had resumed export of some petroleum products, but several traders said they had been notified to the decision.

It has a capacity to process 220 thousand barrels per day, and mainly exports gas oil and jet fuel, but also issued two shipments of naphtha per month.

The refinery is owned  by the Libyan Emirati Refining Company (Lerco), a joint venture between the Libyan National Oil Company (NOC) and Trasta Energy, headed by the UE's al Ghurair family. In December, Gulf Business reported that Al Ghurair said it has no intention of selling its half ownership in the operation.

(Source: CNBC Arabia)

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