ENERGY

Libya declares force majeure for two biggest oil ports

Force majeure is a legal waiver for contractual obligations. (File Photo: Reuters)

Libya has declared force majeure for the country’s two biggest oil exports ports, Es Sider and Ras Lanuf, the Tripoli-based state National Oil Corp (NOC) said on Sunday.

Oil production flowing to the two eastern ports would be gradually shut down, NOC said in a statement, blaming clashes nearby between armed factions allied to Libya’s two rival governments. Only a minimum oil staff would stay on site.

Force majeure is a legal waiver for contractual obligations.
 

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Last Update: Sunday, 14 December 2014 KSA 21:24 - GMT 18:24
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Libya declares force majeure for two biggest oil ports
Oil production flowing to Es Sider and Ras Lanuf will be gradually shut down
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