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OIL: Libya Declares Force Majeure on El-Feel Field

OIL
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Libya’s NOC declared a force majeure on key oil field El-Feel amid a widening shutdown of production, Bloomberg said.

  • The El-Feel field in the southwest was pumping around 70k b/d.
  • Force majeure is a legal clause that allows the firm to halt exports. This follows the Eastern government’s announcement of a complete stop to all output and exports in a dispute over governance of the central bank.
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Libya’s NOC declared a force majeure on key oil field El-Feel amid a widening shutdown of production, Bloomberg said.

  • The El-Feel field in the southwest was pumping around 70k b/d.
  • Force majeure is a legal clause that allows the firm to halt exports. This follows the Eastern government’s announcement of a complete stop to all output and exports in a dispute over governance of the central bank.