Libya's National Oil Corporation Suspends Operations at Three Oil Fields, Warns of Potential Force Majeure

Libya's National Oil Corporation (NOC) announced on the 15th (local time) that operations at three oil fields have been suspended after members of the Petroleum Facilities Guard (PFG), tasked with protecting oil facilities, shut the valves of the crude oil export pipeline connecting Hamada and Zawiya.

Reuters reported that the NOC stated it could declare force majeure if the valves remain closed or if similar forced shutdowns occur at other oil fields.

A declaration of force majeure is a notification sent to the other party to be exempted from legal liability when contractual obligations cannot be fulfilled due to unavoidable circumstances such as war or natural disasters.

Libya's oil production has been repeatedly halted due to political and technical reasons since Muammar Gaddafi was ousted in 2011.

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