Tag Archives | force majeure

Divide deepens as Eastern Forces Close Oil Ports

By George Mikhail for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Libyan divide deepens as eastern forces shut down oil ports A new weapon is being used as a means of pressure in the Libyan conflict. Namely, Libya’s oil. The Tripoli-based National […]

Force Majeure cost Eni JV $9.4m Per Day

By John Lee. Mustafa Sanalla, Chairman of National Oil Corporation (NOC), met with an Eni delegation led by Eni’s Chief Upstream Officer, Alessandro Puliti, Tripoli (Libya), on January 29, 2020 – to discuss status of current shared projects and the consequences of the current blockades for Libya’s people and hydrocarbon production facilities. Sanalla thanked Eni […]

NOC declares Force Majeure after LNA Blockades Exports

NOC declares force majeure after LNA blockades oil exports from Brega, Ras Lanuf, Hariga, Zueitina and Sidra ports The LNA General Command and the Petroleum Facilities Guard of the Central and Eastern Regions  have instructed the managements of Sirte Oil Company, Harouge Oil Operations, Waha Oil Company, Zueitina Oil Company and Arab Gulf Oil Company […]

Force Majeure Lifted on Sharara Loading from Zawiya Port

By John Lee. The National Oil Corporation (NOC) has lifted the force majeure on Sharara crude oil loading from Zawiya port (pictured), following the opening of a closed valve on the pipeline connecting the Sharara oilfield to the Zawiya terminal. Valve 13 was reopened on Sunday evening, July 21, 2019, at 8:20 pm. The valve […]

NOC lifts Force Majeure at Sharara Oilfield

The National Oil Corporation (NOC) announces the lifting of force majeure at the Sharara oil field following the removal of the armed group responsible for its blockade and production loss of 1.8 billion USD. Sharara operating company Akakus has received written assurance from the Libyan National Army’s Brigadier General Al Rifi Kennah Ahmed Ali, Commander […]

Force Majeure at Libya's Largest Field

The National Oil Corporation (NOC) declared a state of force majeure at the Akakus-operated Sharara oil field as of Sunday, December 9, 2018. NOC prioritizes the safety of staff and is currently reviewing evacuation procedures following threats to their wellbeing, and the forced shutdown of the oilfield by the armed militia claiming attachment to the […]

Libya wins Compensation Lawsuit filed by Turkish Firm

By John Lee. Libya has reportedly won an international lawsuit against Turkey's TAV Airports Holding Company, which had been demanding compensation of 80 million euros (93 million U.S. dollars) for alleged violation of legal obligations following the suspension of construction at Sabha International Airport in southern Libya. According to Xinhua, the International Chamber of Commerce […]

NOC declares Force Majeure at Zawiya Oil Port

The National Oil Corporation (NOC) has declared force majeure on crude oil loadings at Zawiya port; commencing on Monday 16 July, 2018. This is a result of reduced production at Sharara following the recent attack and kidnap of four Akakus company employees (two were subsequently released). NOC has shut down and evacuated stations 186, 115B […]