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Force Majeure on Oil Ports

Force Majeure on Oil PortsForce Majeure on Oil Ports

Libya’s National Oil Corp. declared force majeure on the oil ports of Es Sider and Ras Lanuf, and is taking measures to halt output at some oil fields because of armed clashes in the politically-divided North African country. Es Sider and Ras Lanuf are Libya’s largest and third-largest oil ports with a combined capacity of 560,000 barrels a day, Bloomberg reported.

 

Financialtribune.com