Libyan Oil Company Signals Force Majeure

The National Oil Corporation of Libya announced the suspension of production and operations at three oil fields following an illegal shutdown of the main oil pipeline valve by a group of Petroleum Facilities Guards. This action has led to the halt of the fields and has been warned that such a closure could lead to a declaration of force majeure and significant damage to the national economy. This occurs amid ongoing political and security disturbances that have resulted in field closures, negatively impacting oil exports and government revenues. The authorities have called on the guards to cease closures and to resort to legal means.

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