Libya's Oil Sector Turmoil: Potential Force Majeure Looms
Libya's eastern government threatens a force majeure on oil fields due to alleged assaults on the National Oil Corporation. Contemplating moving NOC's headquarters to Eastern-controlled cities, the NOC refutes claims of disruption and insists on regular operations, chalking recent commotion to a minor dispute.
In a recent development, Libya's eastern government has raised the possibility of declaring a force majeure on oil fields and ports. This significant move comes amid accusations of ongoing assaults on the National Oil Corporation (NOC).
The government further suggested it might temporarily relocate the NOC's headquarters to safer cities under its control, like Ras Lanuf and Brega. Currently based in Tripoli, the NOC is under the internationally-recognized Government of National Unity's jurisdiction.
NOC firmly countered these claims, stating their headquarters was not stormed and operations continue as usual. Acting head, Hussain Safar, described recent disturbances as a minor personal dispute with no impact on the operation's safety or workflow.
(With inputs from agencies.)
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