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World Libya: the state of force majeure lifted on a terminal, the oil exports resume

21:30  26 april  2021
21:30  26 april  2021 Source:   lepoint.fr

Libya: The UN ceasefire monitoring mission is gradually putting

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Libye : l'état de force majeure levée sur un terminal, les exportations de pétrole reprennent © Pixabay Libya: the state of force majeure lifted on a terminal, the exports of oil resume the National Libyan oil company ( NOC) announced Monday the lifting of the state of force majeure on the oil terminal of Al-Hariga after a week of interruption.

The state of force majeure is lifted, indicated Monday, April 26 the Libyan oil company (NOC). For a week, it concerned the Al-Hariga (EST) terminal for lack of budget. The NOC will give "its instructions to the operators to restart production and exports," said Tripoli-based public enterprise in a statement. The boss of the NOC, Mustafa Sanalla, welcomed the "rapid response of the government of national unity that unlocked one billion dinars", or about $ 200 million, taken from part of the budget allocations of the NOC .

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A week ago, the company had decreed the state of force majeure, interrupting the production and exports of this important terminal due to the non-transfer of its budget by the central bank. The state of force majeure allows an exemption from the responsibility of the NOC in case of non-compliance with the delivery contracts. According to the company, this measure was the "consequence of the refusal, for many months of the central bank to unlock the budget of the oil sector", vital for the country's knee economy.

>> To read also - Libya stops its oil exports from a large terminal, "force majeure"

political tensions

tensions persist between the governor of the central bank and the boss of the NOC. The company regularly accuses the institution of "politicians" the oil sector "by illegally controlling the state funds". "The funds received to date represent less than 2% of the needs of the NOC and its branches (...) for 2021," had regretted the NOC. Libya, which has the most abundant reserves in Africa, is trying to extract from a decade of chaos since the fall in 2011 from the regime of Muammar Gaddafi, with the recent installation of a unified government to lead the transition to 'in elections in December.

after the signing of a ceasefire in October and the lifting, by the NOC, of ​​the state of force majeure on all the oil installations of the country, the production has rebounded, to reach in December 1.2 million Barrels a day, ten times more than the previous quarter. Since then, it has stabilized but remains below pre-war levels (1.6 million barrels per day).

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