NOC declares force majeure on oil exports at Brega port

The National Oil Corporation announced, on Tuesday, a state of force majeure on the Brega oil port, due to the impossibility of implementing its obligations and contracts towards the oil market, after the port was closed by protesters.

The NOC warned of the damage that oil closures would cause to wells, reservoirs and surface equipment for the oil sector, in addition to the loss of state revenues and sales opportunities at prices that may not be repeated for decades to come.

It pointed out that stopping production at the Sirte Oil and Gas Production and Manufacturing Company will have repercussions on the stability of the public electricity network, especially in the eastern region, due to the dependence of its stations on the gas produced in the NOC fields.

It is noteworthy that the NOC announced, earlier, a state of force majeure on the exports of the Zueitiya port and the El Sharara and El Feel oil fields, after a group of individuals put pressure on users to demand the empowerment of the Bashagha government from power and the dismissal of the Chairman of NOC.

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