Libya’s NOC Lifts Force Majeure on Hariga Port

Libya’s NOC Lifts Force Majeure on Hariga Port

A view of pipelines and a loading berth of the Marsa al Hariga oil port in the city of Tobruk, east of Tripoli, Libya. (Reuters)

Libya's National Oil Corporation (NOC) has lifted force majeure on Hariga port after settling a dispute over its budget with the new Government of National Unity (GNU), it said on Monday.

NOC's Arabian Gulf Oil Company (AGOCO) unit, which runs Hariga, said this month it was suspending output because it had not received any state financing since September.

NOC said the GNU would allocate 1 billion dinars ($225 million) as part of an agreement they had reached to end the force majeure it had declared on exports through Hariga.