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Libya Says It May Suspend Oil Exports From Key Terminals

(Bloomberg) -- Libya’s state oil company said it may suspend exports from the Gulf of Sirte, which contains many of the OPEC member’s main ports, in the next three days amid a worsening political crisis.

The National Oil Corp. said it could declare force majeure, a clause in contracts allowing shipments to be halted, within 72 hours, according to a statement on Monday.

The Gulf of Sirte includes the exports terminals of Es Sider, Ras Lanuf, Brega and Zueitina.

Libya’s production has slumped since mid-April from 1.2 million barrels a day, further tightening the global oil market. Prices have surged 45% this year to around $110 a barrel.

The move comes as Libya grapples with protests that are forcing many oil fields and ports to shut down.

Quote (babun1024 @ Jun 27 2022 09:17am)

Interesting turn of events:
https://www.autoevolution.com/news/oil-magnates-75-million-superyacht-axioma-will-sell-at-auction-probably-for-peanuts-192031.html#

Does sanctioning mean stealing as well? Because I can't find another word for this.

Quote (ofthevoid @ Jun 27 2022 04:06pm)

Moves like these really undermine western standards of justice tbh. I never really understood how under sanctions a country can just seize people's property, without trial or any charge. And no one in the west seems to really care which is not only hypocritical but dangerous and exposes the lack of integrity.

It's modern day legal piracy in some ways. Somalia, Yemen, Iran, fill in the blank, is not stealing but imposing "sanctions" on unfriendly countries when they take over cargo vessels or oil tankers. Logical consistency no?

Quote (Lvivz @ Jun 27 2022 08:38pm)

Just an hour ago russians bombed a shopping centre in Kremenchuk
so far 10 confirmed dead, 40 in critical condition

https://www.youtube.com/watch?v=QhClYWQEmZ8


More "not direct hit" "it wasn't the target" "shitty defense work" excuses I guess
Or those with brain just see it for what it truly is, russians are bombing civilian buildings non-stop everyday
truly savage, satanist country

Quote (Leeevee @ Jun 27 2022 09:42pm)

People do the weirdest shit when they're dependent one way or the other. Don't blame a country for it's shitty leader, I venture most of Russia doesn't even want this war. The economic backlash is humongous there.

Quote (Lvivz @ Jun 27 2022 08:50pm)

There is no doubt theres over 60% of those who support/are ok with Putin being in power and his politics.
Another 25% are taking neutral/passive position of "what can I do" and only 15% are actively against or somewhat against whats going on and that number is probably less as lots of normal people already left russia.

Quote (Leeevee @ Jun 27 2022 10:00pm)

Where do you get the 60% from?

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Majorities say they support Russia’s military operation

Even though only 29 percent of Russians say they are following the situation in Ukraine very closely and 35 percent are following somewhat closely, a majority of Russians say they support “the actions of Russia’s military in Ukraine.” Half strongly support (53 percent), and 28 percent somewhat support, the military action. Just 14 percent oppose it and 6 percent decline to respond. If people felt nervous about signaling disapproval, more might express reserved support or simply say they don’t know.

Quote (Leeevee @ 27 Jun 2022 22:00)

Where do you get the 60% from?