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Libya’s Eastern Govt Says It Will Stop All Oil Production & Exports

OIL
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Libya’s Eastern-based government announced a “force majeure” at all fields, terminals and oil facilities, Bloomberg said.

  • The move is in response to the rival Tripoli-based government’s attempt to take control of the Libyan central bank.
  • Libya's Tripoli-based Presidential Council issued an order on 18 August to replace central bank governor Sadiq al-Kabir.
  • Libya is politically fragmented with two rival administrations in the east and west.
  • Eastern-based general Khalifa Haftar's Libyan National Army has imposed several politically driven oil blockades in recent years, disrupting Libya’s 1.2m b/d of crude output.
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Libya’s Eastern-based government announced a “force majeure” at all fields, terminals and oil facilities, Bloomberg said.

  • The move is in response to the rival Tripoli-based government’s attempt to take control of the Libyan central bank.
  • Libya's Tripoli-based Presidential Council issued an order on 18 August to replace central bank governor Sadiq al-Kabir.
  • Libya is politically fragmented with two rival administrations in the east and west.
  • Eastern-based general Khalifa Haftar's Libyan National Army has imposed several politically driven oil blockades in recent years, disrupting Libya’s 1.2m b/d of crude output.