Oil Firm Warns of Force Majeure over Hamada Valve Closure
Under the headline "Closure of the Main Shipping Line Valve Between Al-Hamra and Al-Zawiya," the National Oil Corporation warned about the implications of this action on Libya's oil production. The closure of the valve, carried out illegally by the Petroleum Facilities Guard, has resulted in the suspension of operations at the Hamada and Tohara fields, as well as their associated stations. This has led to a shortage of oil supplies and a negative impact on the national economy, especially at a time when Libya continues to heavily rely on oil revenues. The corporation called on the relevant authorities to exercise restraint and resort to legal means, warning that ongoing closure could force it to declare a force majeure and jeopardize Libya's reputation as an independent energy source, amid increasing economic and social risks.
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