Libya declares 11 oil fields closed after ISIS attacks

The Associated Press: Libya’s state-run oil corporation has declared 11 oil fields in the country non-operational after attacks by suspected Islamic State militants, opting for a force majeure clause that exempts the state from contractual obligations.

The National Oil Corporation blamed Islamist-backed authorities in the capital Tripoli for failing to protect the oil fields. The statement, issued late Wednesday, said “theft, looting, sabotage and destruction” of the oil fields have been on the rise despite pleas for the authorities to ensure the safety of Libya’s oil installations.

“If security deteriorates, the corporation will be forced to close all fields and ports, which will result in a total deficit in state revenues and directly impact people’s live, including with power outage,” the statement said. It urged the country’s feuding political factions to “put state interest above all and stand together against destruction.”

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