Libya: NOC’s Statement to Soon Lift ‘Force Majeure’ Following Opening of Oil Ports in East Libya

Libya’s National Oil Corporation today said it would begin work immediately to restart exports from Oil Crescent ports.

“We welcome statements from the Libyan National Army allied with House of Representatives and the president of the HoR, Aguila Saleh, that the ports should be placed under NOC’s control,” said NOC chairman Mustafa Sanalla. “ our technical teams already started assessing what needs to be done to lift force majeure and restart exports as soon as possible.”

“As Libyans we have a common interest in keeping our oil flowing. By raising oil production and exports we can reduce our budget deficit and pay for vital services.” 

“We can raise production to 600,000 b/d within four weeks and to 950,000 b/d by the end of the year from around 290,000 b/d at present. However, this is dependent on receiving essential funds from the budget and on the Oil Crescent ports and the closed pipelines in the southwest being opened and kept open.”

“I hope this marks the beginning of a new phase of cooperation and coexistence between Libya’s factions, as well as an end to the use of the blockade as a political tactic.”

Under a unity agreement signed in July, ‎NOC recognizes the Presidency Council as the highest executive authority and the House of Representatives as the highest legislative authority. A central aim of the agreement is to ensure that Libya’s oil wealth is used for the benefit of all Libyans.

all exports from Libya must be according to UN Security Council resolution 2259.

Tripoli 13/09/2016

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