Libya closes four oil ports as NOC declares state of alert before hurricane - S&P Global

Libya closes four oil ports as NOC declares state of alert before hurricane | S&P Global Commodity Insights

Libya has shut four oil ports as a precautionary measure while state-owned National Oil Corp. declared a state of maximum alert on Sept. 10, before a possible hurricane headed for the country.

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Ras Lanuf, Zueitina, Brega and Es Sidra ports will be shut for at least three days, a source familiar with the matter said. A senior NOC official confirmed the port closings.

All companies affiliated with NOC must reduce movement outside oil sites, restrict movement and stop flights between fields, the NOC said on X, the platform formerly called Twitter.

Ports and shipment movements should also be monitored, and steps taken if necessary to protect industrial units, production lines, storage units and facilities from floods, NOC said. Steps may include removing workers and equipment from sites.

Hurricane Daniel that had hit Greece and Turkey in the past few days was downgraded to a subtropical storm by Sept. 9 and was expected to bring "severe effects" to Libya, according to a report by Middle East meteorological service Arab Weather.

A storm with subtropical features in July/September in the Mediterranean is considered rare, and could bring heavy rain, strong winds and turbulent waves. High-speed winds of 80-120 km/h and rain of as much as 50-250 mm carry risks of torrents and floods in some cities, it said.

The NOC had only a day earlier report that Libyan crude oil production had reached 1.208 million b/d with condensate output at 48,000 b/d. The divided country's oil sector has been extremely volatile in recent years, due to factions vying for political and military control of its economy.

Libya, which produces mostly light, sweet crude, exports the vast majority of its production, with some 85% going to Europe, as several of its domestic refineries are offline or at severely reduced capacity due to damage from fighting. Libya also exports about 7 million cu m/d of gas to Europe.