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Libya's National Oil declares force majeure amid export blockade

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Libya's National Oil declares force majeure amid export blockade

Libya's National Oil Corp. has declared force majeure after Libyan National Army Commander Khalifa Haftar's forces froze oil shipments from certain ports in the central and eastern regions of the country.

Petroleum Facilities Guard Commander Nagi al-Moghrabi, an appointee of the LNA, and Colonel Ali al-Jilani of the LNA's Greater Sirte Operations Room, ordered companies involved with the Brega, Ras Lanuf, Hariga, Zueitina and Sidra ports to freeze deliveries, National Oil Corp. said.

The company added that the move could reduce crude oil production by 800,000 barrels a day and result in daily financial losses of $55 million.

The move comes as Haftar is due to attend an international conference in Berlin where he is expected to face pressure to end a civil war in Libya, Bloomberg News reported the same day.