Economy

Libya’s NOC declares force majeure on El-Feel oil exports

Company says oil production halted at El-Feel oilfield in country's southwest

Walid Abdullah   | 17.04.2022
Libya’s NOC declares force majeure on El-Feel oil exports

TRIPOLI, Libya

Libya’s National Oil Corporation (NOC) on Sunday declared force majeure on oil exports from the El-Feel oilfield in the country’s southwest.

In a statement, the state-owned company said oil production was halted until further notice after a group of people entered the facility and prevented employees from working. It did not, however, identify this group of people.

Declaring force majeure allows the company to exonerate itself from legal responsibility regarding its commitments to clients.

Tribal leaders in southern Libya earlier announced they were halting production from the oilfield until Prime Minister Abdul Hamid Dbeibeh hands over power to the newly appointed government of Fathi Bashagha.

They also called for the sacking of Mustafa Sanalla, head of the NOC, and for the appointment of a new board for the company.

The El-Feel field has the capacity to produce 90,000 barrels per day but typically produces closer to 70,000.

Libya has the ninth-largest known oil reserves in the world and the biggest oil reserves in Africa.

Tension has mounted in Libya since parliament last month gave confidence to a new government headed by Bashagha, a former interior minister, while Dbeibeh insists on remaining at his post.

*Writing by Ahmed Asmar


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