Damage from militant attacks on a crude oil terminal on the Libyan coast was described by a national oil company Monday as catastrophic. Libya’s National Oil Corp. said Monday it lost two of the five storage tanks at the Ras Lanuf port after militants stormed the facility last week. As a result, the NOC said its storage capacity was lowered from 950,000 barrels to 550,000 barrels. The fire from one of the damage storage tanks is in danger of spreading to three others spared so far. “This incident will result in the loss of hundreds of millions of dollars in construction costs, and billions in lost sales opportunities,” the NOC stated. “Rebuilding the tanks may take years, especially in current security […]