Libya restores operation of all oil fields and ports

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The Libyan National Oil Corporation (NOC) has announced that all oil fields and ports in the country have been restored after the force majeure in the El Fil field was lifted, Report informs, citing a statement posted on the company’s Facebook.

According to the announcement, the corporation instructed to resume production at the El Fil field with the prospect of gradually restoring normal manufacture levels in the next few days.

On Friday, the NOC declared the lifting of the force majeure regime in the ports of Ras Lanuf and Es-Sider and was preparing to resume exports. Earlier, in October, the force majeure regime was abolished from the country’s largest oil field, El Sharara.

On Friday, the company announced that it plans to increase oil production to 800,000 barrels per day in the next two weeks and 1 million barrels in four weeks.

Most of the country’s oil fields and ports were closed in January amid military operations in Libya. At that time, oil transportation from the country’s five main export ports – Ras Lanufa, Es-Sider, Marsa el Brega, Al Hariq, and Al Zuweitina – was suspended.

Earlier, the head of the Libyan Central Bank, Sadiq al-Kabir, said that from 2013 to 2020, the budget suffered more than $ 180 billion in losses due to the suspension of oil production and exports from the state.