Libya's NOC Says Forced To Again Impose Force Majeure On Oil Exports Due To Blockade

Libya's NOC Says Forced to Again Impose Force Majeure on Oil Exports Due to Blockade

MOSCOW (UrduPoint News / Sputnik - 13th July, 2020) Libya's National Oil Corporation (NOC) has announced that it has been forced to again declare the force majeure regime on oil supplies due to the renewed lockdown, NOC said in a statement.

"Libya's National Oil Corporation (NOC) condemns unreservedly the renewed blockade on Libyan oil exports and calls for the states responsible to be held to account by the United Nations Security Council. NOC has been forced to declare force majeure on all oil exports from Libya to limit its contractual liabilities," the statement, published on Facebook, read.

NOC calls on all mercenaries to withdraw from Libyan oil facilities, according to the statement.

The company appreciates the efforts of the United Nations and the United States "to restart Libyan oil production and avert an escalation in the conflict," NOC head Mustafa Sanalla said.

On Friday, the oil giant corporation lifted the force majeure off all oil exports, and Kriti Bastion became the first vessel to load crude oil from Libya.

Since January, most of Libya's oil depots and ports have been closed due to a lock on oil facilities. According to NOC, the losses amount to around $5 billion.