Libya’s National Oil Corporation (NOC) declared force majeure on loadings from Zueitina and Hariga ports on Monday, resulting in total production losses of 850,000 barrels per day (bpd) due to the closure of eastern fields and ports.
“Despite our warning of the consequences and attempts to reason with the LNA General Command, two legitimate allocations were blocked from loading at Hariga and Zueitina this weekend,” Tripoli-based NOC Chairman Mustafa Sanalla was quoted as saying in Monday’s statement.
“The storage tanks are full and production will now go offline.”
The NOC had warned of daily losses of $67.4 million and extensive disruption to oil, gas and power operations if force majeure was declared at Zueitina and Hariga.
Cumulative losses since June 14 stood at more than $650 million, it said