NOC Plans to Load Oil at Ras Lanuf and Lift Force Majeure
The Wall Street Journal reports that the NOC plans to load an oil tanker from the long-closed Ras Lanuf port, and lift force majeure on all oil crescent ports. However it remains to be seen whether the Presidential Council will release funds to the NOC to make the necessary repairs given Haftar’s Libyan National Army (LNA) now controls the ports.
Libya’s National Oil Co. is planning to load a tanker full of 600,000 barrels of crude from the port, Ras Lanuf, said oil officials, whose account was supported by ship-tracking websites. The company has yet to decide if the oil will be exported or refined domestically at another port, the officials said….
Libyan oil officials said Wednesday that force majeure—a legal clause than bans shipments from oil ports—was being lifted from these four ports and exports would restart imminently from Zueitina and Brega.
The country could raise production to 600,000 barrels a day within weeks from around 290,000 barrels a day currently if the necessary funds were made available by the central government, said National Oil Co. Chairman Mustafa Sanallah, who visited Zueitina on Wednesday.
The oil officials’ plans to quickly begin loading oil at Ras Lanuf are politically sensitive in Libya.
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