The National Oil Corporation (NOC) declared force majeure on the oil port of Brega because it is impossible to implement its commitments towards the oil market.
NOC added that at a time when oil prices are recovering significantly due to increased global demand, which is being exploited by all producing countries to increase their oil revenues, the Libyan crude is being subjected to a wave of illegal closures that will have serious damage to wells, reservoirs and surface equipment for the oil sector, as well as the loss of state treasury opportunities at prices that may not be repeated for decades to come.
NOC warned that the shutdown of production at Sirte oil and gas production and manufacturing company will have implications for the stability of the public electricity network, especially the eastern region, as most power plants feed on gas produced from the company’s fields.
