Libya lifts force majeure on oil exports

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TRIPOLI, July 10 (Xinhua) -- Libya's state-owned National Oil Corporation (NOC) on Friday said it lifted force majeure on all oil exports from Libya after a suspension of nearly six months.

"National Oil Corporation (NOC) has lifted force majeure on all oil exports from Libya. The first vessel to load is the Kriti Bastion from Es Sider oil port. The increase in production will take a long time due to the significant damage to reservoirs and infrastructure caused by the illegal blockade imposed on January 17," NOC said in a statement.

"For NOC, the work has just started. Our infrastructure has suffered lasting damage, and our focus now must be on maintenance and securing a budget for the work to be done. We also must take steps to ensure Libya's oil production is never again held to ransom," said NOC Chairman, Mustafa Sanalla.

According to Libya's UN-backed government, foreign mercenaries allied with the rival eastern-based army occupied oilfields and ports and shut down oil exports.

NOC said that the country has lost more than 6.5 billion U.S. dollars as a result of the oil blockade.

Libya has been suffering escalating violence and political instability ever since the fall of the late leader Gaddafi's regime in 2011. Enditem

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