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Libya’s oil company lifts supremacy at terminals, groups end blockade

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Libya’s new oil chief lifted force at all of the country’s oil fields and export terminals on Friday as groups besieging various facilities ended their blockade.

“The National Oil Corporation announces the abolition of force majeure on all fields and terminals from July 15,” said NOC chief Farhat Bengdara in the eastern city of Benghazi.

Force majeure is a legal measure that enables companies to release themselves from contractual obligations in the light of circumstances beyond their control.

Bengdara spoke at an event attended by representatives of groups that had blocked six oil fields and export terminals since mid-April over demands for a more “equitable distribution” of the country’s oil revenues.

At that time, oil production fell by 400,000 barrels crude per day, down from one million bpd in March.

But on Friday, the groups said they would lift the blockades after the new NOC chief “promised to meet all our requirements, calling for a fair distribution of oil revenues”.

“We have decided to reopen oil fields and oil terminals, to reopen production and exports,” she said in a statement.

In a decree released on Wednesday, the unity government of Prime Minister Abdulhamid Dbeibah replaced veteran NOC chief Mustafa Sanalla, appointing Bengdara as head of the oil corporation.

A former central banker, Bengdara took to the NOC headquarters in Tripoli on Thursday, told a news conference: “The oil sector has fallen prey to political strife, but we will work to prevent political interference in the sector.”

Dbeibah’s move against Sanalla follows months of escalating tensions in Libya after parliament in the east of the country appointed a rival government, led by former Interior Minister Fathi Bashagha and seen as backed by military strongman Khalifa Haftar.

Libya’s oil company lifts supremacy at terminals, groups end blockade

Source link Libya’s oil company lifts supremacy at terminals, groups end blockade

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