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Conflict escalates in Libya near Tunisia border - Video
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Libyan and Tunisian officials said, fighting between armed factions allied to Libya #39;s competing governments broke out on Sunday near the country #39;s main border crossing to Tunisia. The OPEC...
By: WochitGeneralNews
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Fighting Near Libya's Main Border Crossing to Tunisia - Video
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By: WochitGeneralNews
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Anthony Bourdain Parts Unknown Seasoun 1 Episode 06 Libya
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Anthony Bourdain Parts Unknown & Seasoun 1 Episode 06 & Libya - Video
Libya, the holder of Africas largest crude reserves, halted exports from two of its biggest oil ports as rival forces battled to control the nations main revenue source.
National Oil Corp, the state-run oil company, declared force majeure at Es Sider and Ras Lanuf, Libyas largest and third-largest oil ports, with a combined capacity of 560,000 barrels a day. Force majeure is a legal status that protects a company from liability when it cant fulfill a contract for reasons beyond its control.
National Oil spokesman Mohamed Elharari said the ports werent damaged and that the fighting occured at some distance from both facilities. The nations output dropped signicantly, he said, without giving an estimate.
Two officials with knowledge of production operations said Libya was producing about 350,000 barrels a day over the past 24 hours, compared with 800,000 barrels a day before the fighting broke out on Dec. 13. The officials asked not to be identified because they arent authorized to speak to the media.
Libya is divided after its internationally recognized government, led by Abdullah al-Thinni, sought refuge in the countrys eastern region after Islamist militias took over Tripoli about four months ago. Omar al-Hassi set up a rival government in the capital with the backing of the militants.
Thinni announced plans last week to assert his governments control of oil payments made by foreign companies, prompting the Islamist forces backing his rival to try to seize the eastern oil terminals protected by the Petroleum Facilities Guard.
Its an important decline, but I cant say how much, Elharari, speaking by phone from Tripoli, said of the drop in production. The terminals were closed as a precaution to preserve the lives of the workers; the shutdown of the ports was done in an orderly, professional way to preserve the equipment.
Brent crude, a pricing benchmark for more than half of the worlds oil, added 84 cents to $62.69 a barrel on the ICE Futures Europe exchange in London at 12:34 p.m. local time. The contract closed on Dec. 12 at the lowest level since July 2009.
National Oil, or NOC, is determined to protect the oil resources of the country in a way that protects the rights of the country and the partners in line with terms of the partnership agreements, according to a Dec. 13 statement posted on the companys website declaring the force majeure.
A spokesman for the Petroleum Facilities Guard, a force loyal to Thinnis government, said Islamist militias attempted to invade the terminal over the weekend and were repulsed. They suffered heavy losses, the spokesman, Ali Al-Hasy, said by phone from Es Sider, reporting no casualties on the PFG side. It is relatively quiet now.
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Libya Imposes Force Majeure on 2 Oil Ports After Clashes