Continued clashes between the Libyan National Army and rival groups has cut the storage capacity at Ras Lanuf oil export terminal by 400,000 barrels, after a second tank was set on fire, Reuters reports , citing the National Oil Corporation. The company also said the fire could spread to three other storage tanks, which would shut down storage at Ras Lanuf completely and lead to a suspension of exports. This would have a devastating effect on the Libyan oil industry, which had been recovering nicely, pushing 1.1 million bpd before attacks on fields and infrastructure became increasingly frequent. The production expansion became possible after the LNA took control over the Oil Crescent with its four oil export terminals from the Petroleum Facilities Guard in September 2016. The army then passed this control into the hands of the NOC. Now, it is being challenged by the Benghazi Defense Brigades—a group […]