Libya’s National Oil Corporation (NOC) on June 8 revoked force majeure at the Es Sider oil terminal imposed since January. However, NOC has not resumed crude exports due to a blockade by the Petroleum Facilities Guards which prevents tankers from entering the port. Tanker tracking data showed a Suezmax tanker chartered by Unipec arrived at the port on July 5.
Other ports such as Ras Lanuf, Brega, Zueitina, and Hariga remain under force majeure. Meanwhile, the shutdown of Sharara oilfield has halted exports from the Zawia oil terminal. The blockades wiped about $6.5 billion of Libya’s revenue. The country’s production also fell from 1.6 million bpd before the civil war to 100,000 bpd recently.
