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Libya’s NOC lifts force majeure on “secure” oil fields and ports

The National Oil Corporation announced, on Saturday evening, the lifting of force majeure from “secure” fields and ports, and confirmed that the state of force majeure would continue in the fields and ports where armed men are believed to be hindering production.

The NOC said in a statement that it had given instructions to the operating companies and the relevant departments of the corporation to carry out their duties and resume production and exports from “secure” fields and ports.

The statement affirmed the corporation’s commitment to “the highest international standards for the transparency of its commercial operations,” noting that issues related to managing financial affairs and the budgeting process are political matters outside the jurisdiction of the National Oil Corporation, stressing that it will operate with complete transparency under the direction of the executive authority regarding the disposal of new revenues.

The statement cited the Chairman of the NOC Mustafa Sanalla as saying that the NOC is keen to start production and exports taking into account the safety of workers and operations, and to prevent any attempts to politicize the oil sector.

Sanalla indicated that the National Oil Corporation is fulfilling its technical and non-political mission to resume operations in safe areas, stressing that work is underway to assess technical issues in preparation for the resumption of production and exports.

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