The National Oil Corporation (NOC) has confirmed that production and export operations are continuing normally at all oil fields and ports, explaining that it had engaged with protesters who organized a demonstration on Tuesday morning at Es Sider and Ras Lanuf ports.
The NOC reassured Libyans and its local and international partners that production operations were still proceeding according to the strategic plan, just like export operations through all oil ports without exception.
Meanwhile, Reuters reported that oil prices declined on Wednesday due to several factors, including easing concerns over Libyan supply and an increase in US crude inventories.
The chief analyst at Japan’s Sunward Trading, Chiyuki Chen, told Reuters that the resolution of supply concerns in Libya added pressure to the market. Reuters also confirmed that concerns eased after the NOC announced on Tuesday that export activities were proceeding normally following negotiations with protesters who had disrupted tanker shipments at two key ports.
On Tuesday morning, protesters from the “Oil Crescent Movement” announced their control of Es Sider and Ras Lanuf ports. This came days after they had issued a video statement giving the NOC a two-week ultimatum to meet their demands, which included relocating the headquarters of major oil companies to their region and promoting its development. They also hinted at resorting to shutting down oil fields and ports in the Oil Crescent region.
