Libyan force majeure lifted

Jul 13 2018


Libya’s National Oil Corporation (NOC) has lifted the force majeure declared at Ras Lanuf, Es Sider, Hariga and Zuetina recently.

The terminal facilities were handed back to NOC on Wednesday.

 

NOC declared force majeure on crude oil loading at Hariga and Zuetina oil terminals on 2nd July (see last week’s newsletter).

 

The total daily production loss at the terminals amounted to 850,000 barrels of crude, 710 mill standard cu ft of natural gas, and more than 20,000 barrels of condensate.

 

The total daily revenue loss associated with the shutdown was estimated at $67.4 mill.

 

Loading operations at the Ras Lanuf and Es Sider terminals were stopped in mid-June. The financial loss related to the stoppage was said to be over $650 mill, according to local reports.

 

A tanker that had been prevented from loading for two weeks at Hariga arrived on Wednesday to start loading one million barrels of crude, a port official told Reuters.

 



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