On Tuesday, the Austrian oil and gas company OMV announced an expected financial impact exceeding €200 million ($220 million) for the third quarter due to disruptions in Libyan oil production.
The announcement follows a resolution of a dispute concerning the governor of the Central Bank, which led to the reopening of all oil fields and export ports.
This resolution was jointly declared last Thursday by the eastern-based Libyan government and the National Oil Corporation (NOC) headquartered in Tripoli.
The NOC had previously declared force majeure on August 7th at the Sharara oil field, one of the country‘s largest production areas with a capacity of about 300,000 barrels per day.
A similar declaration was made on September 2nd at the El Feel oil field, further complicating production dynamics in the region.
These disruptions have significantly impacted international companies like OMV, which are heavily invested in Libyan oil production.
The NOC denied the presence of foreign forces protecting various Libyan oil fields and facilities. In a statement on its Facebook page, the Corporation emphasized that “national security and military institutions have not failed to secure these facilities, which are an important part of the people’s assets.”
The Corporation condemned what it described as false claims and news, urging both domestic and international media outlets to adhere to accuracy, credibility, and journalistic professionalism. It also called for verification of information before publication to avoid misleading the public and stirring unrest.
Last Thursday, the Oil Corporation announced the lifting of force majeure at all crude oil fields and ports, following a crisis involving the head of the Central Bank which led to the closure of oil facilities and significant financial losses.
Oil production has recently resumed in full after a nearly two-month halt due to a political crisis, which involved disputes over the governance of the central bank responsible for distributing oil revenues. The resumption includes the Sharara and El-Feel oil fields and exports from Es Sider, the country’s largest port.
