The Libyan National Oil Corporation (NOC) has announced force majeure on oil production at Sharara and El Feel oilfields after the closure of Rayayna Valve by “unidentified persons”, saying the OPEC member will now lose 330.000 barrels per day (bpd) equaling over 160 million dinars a day off the state’s revenue.
The NOC added in a statement on Sunday that its Chairman indicated that the ones behind the closure of Rayana Valve are a “group of dubious gangs led by Mohammed Al-Basheer Al-Gurj”, saying that the closure led to the cessation of pumping crude and thus would not allow Libya to honor its commitment in the global market.
This inexplicable scenario has come just less than a week from the closure of oil ports and the halt of exports by the NOC, claiming some bad weather conditions got in the way, when the barrel of oil in global markets reached over 120 dollars as the prices are increasing rapidly amid the Russia-Ukraine war.
