Libya’s National Oil Corporation (NOC) lifted force majeure on the Hariga export terminal on 26 April and ordered its Agoco and Sirte Oil subsidiaries to ramp up production after resolving a budgetary dispute with the Tripoli administration.
NOC’s debt-ridden Agoco subsidiary had been forced to shut-in about 280,000 b/d of its 310,000 b/d production capacity due to an inability to “fulfill its financial and technical obligations.” (MEES, 23 April). Fellow eastern-based subsidiary Sirte Oil was also on the brink of further outages, having already reduced its production by 20,000 b/d to about 82,000 b/d. (CONTINUED - 222 WORDS)
