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News X

Libya’s Sharara field closed

Oil

Libya's Sharara Oil Field, the nation's biggest, declared force majeure due to an attack by an armed group, shutting off production of more than 230,000 b/d, newswires report. NOC Chairman Mustafa Sanalla stated that the armed group, Brigade 30, were demanding the release of group members who had been detained. Sharara has been hit by repeated shutdowns throughout the year, due to blockades imposed by armed groups and other protests. The oil field is crucial to Libyan oil production recovery. In June, when Sharara averaged around 280,000 b/d, Libyan production rose above 1M b/d, more than four times the level in mid-2016.