Libya lifts force majeure on exports from Zawia and Mellitah terminals

Oil

Libya’s National Oil Corporation (NOC) has lifted force majeure on crude oil exports from the western ports of Zawia and Mellitah, Argus reports. Shipments were previously halted on 20 December following the shut-in of production at the El Sharara, Hamada, El Feel and Wafa oilfields by the Petroleum Facilities Guard (PFG). These closures slashed Libya’s production, with output briefly falling by as much as a third to to below 800K b/d. Further risks to Libya’s crude supply still remain present however as eastern ports were forced to close yesterday amid weather-related restrictions, with the potential for further output cuts to be implemented if these export outlets remain closed due to limited oil storage capacity.