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Title: Libya declares force majeure on oil fields in central region Post by: freedomno1 on March 05, 2015, 04:39:33 AM World oil demand is dropping at present but it looks like some supplies are at risk for more shutdowns
Full Article: Libya on Wednesday declared a force majeure related to 11 oil fields in the center of country, after a string of attacks against the facilities by the radical group calling itself Islamic State. In a statement posted on its website, state-owned National Oil Co. said it was no longer able to ensure security in the 11 fields and declared force majeure on them, a move guaranteeing legal protections from claims against any future disruptions. In recent weeks, the North African country’s oil industry--once the lifeblood of its economy--has been in the cross hairs of an armed conflict. The country is pumping about 500,000 barrels of crude oil a day, three times less than its peak output. The Dahra oil field, about 500 kilometers (310 miles) southeast of Tripoli, was attacked late on Tuesday, hours after two other oil facilities were targeted by the militants. Col. Hakim Maazab, a commander of the oil guards in the area said his men had regained control of the field late on Wednesday. Mabruk and Bahi, two of the oil fields in central Libya that had been attacked last month, were stormed again by unknown gunmen on Monday and Tuesday. http://www.marketwatch.com/story/libya-declares-force-majeure-on-oil-fields-in-central-region-2015-03-04 http://www.reuters.com/article/2015/03/05/libya-security-oil-idUSL5N0W65KB20150305 Title: Re: Libya declares force majeure on oil fields in central region Post by: Chef Ramsay on March 05, 2015, 05:00:51 AM Thanks to that buttkissing-broadside-deviant-corrupt and criminal underworld boss Hillary Clinton that started this situation to unfold and go to hell like it has been. The end result is these dirty fakeass rebels known as ISIS running the show in that part of Libya. It's no secret that I hope she is forced to retire over the recent stuff and that that retirement is very unpleasant at best for that bunch. Furthermore, I don't wish the best for Chelsea on any of her plans. If there's any witches out there, do the right thing and look out for the average person and spite the elitist factions of the Clintons and Bushes and get the out of our hair for good, thx.
Title: Re: Libya declares force majeure on oil fields in central region Post by: pattu1 on March 05, 2015, 02:55:49 PM I thought force majeure is usually applicable due to an act of god/nature.
I didn't realize terrorism would get included too. ;D |