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Libya's state oil company lifts force majeure on Hariga port

Libya's state oil company lifts force majeure on Hariga port
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Libya's NOC lifts force majeure on Hariga port

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Libya's NOC lifts force majeure on Hariga oil port

By Reuters Staff
2 Min Read
FILE PHOTO: A view shows Sharara oil field near Ubari, Libya, July 6, 2017. REUTERS/Aidan Lewis
(Reuters) -Libya’s NOC has lifted force majeure on oil loadings from the eastern port of Hariga after settling a financing dispute with the new Government of National Unity (GNU), it said on Monday, paving the way for higher output.
National Oil Corporation (NOC) subsidiary Arabian Gulf Oil Company (AGOCO), which runs Hariga, this month said it was suspending output because it had not received any state financing since September.
Force majeure was declared by NOC on April 19.
NOC said the government would allocate 1 billion dinars ($225 million) as part of an agreement reached to end the force majeure declared on exports through Hariga. ....

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