Libya's National Oil Corporation to resume exports

Libya's National Oil Corporation (NOC) said Thursday that it would resume exports from its eastern ports "as soon as possible," after taking control of the facilities for the first time in about two years.

NOC said in a statement that chairman Mustafa Sanalla had accepted the handover of the ports from forces loyal to eastern Libyan military strongman General Khalifa Haftar earlier on Wednesday.

A few days ago, forces loyal to Haftar captured Zueitina and three other oil ports in Libya's Oil Crescent region from a rival militia allied to the UN-backed government in the capital Tripoli.

Force majeure - a clause in a contract activated when operations have been affected by unforeseen circumstances - was applied to al-Sidr and Ras Lanuf ports in December 2014 and on Zueitina in November 2015, due to the conflict in Libya.

The force majeure clause would no longer be applied to NOC operations in the region, the firm said.

Meanwhile, the Arabian Gulf Oil Company started pumping 40,000 barrels of oil from Nafura oilfield to Zueitina oil terminal on Thursday, spokesman Omran Al-Zawi told dpa.

Zueitina has the capacity to store 4 million barrels of oil and can handle 20 per cent of Libya's total oil exports.

Around two years ago, the oil terminals were seized amid the anarchy that hit Libya after the overthrow of longtime dictator Moamer Gaddafi in a 2011 uprising.

Last update: Thu, 15/09/2016 - 18:03
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