Libya Oil Field's Halt Disrupts Crude Exports From Key Port
- El-Feel protests disrupt output for first time in two months
- Oil field has output capacity of about 90,000 barrels a day
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Libya’s oil exports from the Mellitah terminal will be “modified” after protests disrupted production at the key El-Feel deposit for the first time in two months, putting the OPEC nation’s crude production at risk of a decline again.
Crude loadings at Mellitah, the export terminal for El-Feel, will be “modified” after force majeure was declared on deliveries from the deposit on Feb. 23, the state-run National Oil Corp. said in a document obtained by Bloomberg. NOC said Saturday guards at the field were protesting over pay and other benefits. Force majeure is a legal clause protecting a party from liability if it can’t fulfill a contract for reasons beyond its control.