Oil exports suspended from Libya oil terminal

Libya's National Oil Corp announced on Thursday it had imposed a state of "force majeure" on one of the country's main oil terminals after exports from it had been suspended. 

PHOTO: REUTERS

NOV 6, 20157:14 AM

[TRIPOLI] Libya's National Oil Corp announced on Thursday it had imposed a state of "force majeure" on one of the country's main oil terminals after exports from it had been suspended.

The measure clears the NOC of liability for failure to honour contracts.

The Tripoli-based company said on its website the decision was taken because oil facility guards at Zueitina had halted exports and that force majeure was in effect since Tuesday.

The guards took the action to prevent exports on behalf of the NOC based in the capital, according to the Lana news agency loyal to Libya's internationally recognised government.

Since July 2014, the country has had two rival adminstrations - the recognised government based in the eastern city of Tobruk, and its rival in Tripoli.

At the same time, there are rival NOCs, which compete for contracts with foreign clients.

AFP