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Libya Lifts Force Majeure at Ras Lanuf Oil Terminal 

Libya Lifts Force Majeure  at Ras Lanuf Oil Terminal Libya Lifts Force Majeure  at Ras Lanuf Oil Terminal 

Libya has lifted force majeure at the major Ras Lanuf oil terminal, though restarting exports would take at least two days depending on available crude, a spokesman for the National Oil Corporation said.

Restarting Ras Lanuf would be a major boost for Libya's crippled oil industry. The terminal, along with another major eastern oil port Es Sider, has been under force majeure since December last year due to fighting between rival factions, Reuters reported.

"The NOC lifted the force majeure on Ras Lanuf yesterday. The port will be ready to restart exporting, but this depends on the amount of available oil and the working fields linked to the port," NOC spokesman Mohamed Harari said.

The OPEC producer's crude output has been hit by the conflict between two rival governments, whose armed forces have been battling for control.

Some recent estimates put production at around 500,000 barrels per day, compared with 1.6 million bpd produced before the 2011 uprising against Muammar Gaddafi.

 

Financialtribune.com