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According to foreign news on April 19, the National Oil Company of Libya (NOC) announced on Monday that the export business of Hariga Port has encountered force majeure.
Affected by the country's central bank budget dispute, other oil facilities may also announce force majeure
.
NOC stated in a statement that the lost revenue may exceed 118 million dinars (US$26 million)
.
The Arabian Gulf Oil Company (AGOCO), the NOC subsidiary that operates the Hariga Port, said on Sunday that it had suspended production because it had not received budgetary fees since September
.
The manager of Hariga Port and a petroleum engineer said that production has been reduced
.
NOC said that the central bank’s refusal to provide funding to the oil industry has been going on for several months, and this dilemma may spread to other companies
.
The blockade of the oil terminal by militants in eastern Libya had caused the country's oil production to be interrupted for most of last year, forcing the NOC to declare force majeure for all exports
.
Affected by the country's central bank budget dispute, other oil facilities may also announce force majeure
.
NOC stated in a statement that the lost revenue may exceed 118 million dinars (US$26 million)
.
The Arabian Gulf Oil Company (AGOCO), the NOC subsidiary that operates the Hariga Port, said on Sunday that it had suspended production because it had not received budgetary fees since September
.
The manager of Hariga Port and a petroleum engineer said that production has been reduced
.
NOC said that the central bank’s refusal to provide funding to the oil industry has been going on for several months, and this dilemma may spread to other companies
.
The blockade of the oil terminal by militants in eastern Libya had caused the country's oil production to be interrupted for most of last year, forcing the NOC to declare force majeure for all exports
.
