Libya resumes production at major oilfieldTRIPOLILibya's state-owned energy firm has said production resumed at Al-Sharara oilfield, which provides a quarter of the country's daily oil output, two weeks after protests led to a shutdown. The National Oil Corporation (NOC) announced the "lifting of force majeure" and the resumption of "full production" at Al-Sharara, which normally produces up to 315,000 barrels per day. The NOC on Jan. 7 declared "force majeure" at the southwestern oilfield "due to the closure of the site by protesters." Repeated interruptions in crude production in the war-torn North African country have been caused by social and political protests amid clashes between rival factions. Libya sits on Africa's largest oil reserves but production has been frequently disrupted during over a decade of chaos since a NATO-backed uprising led to the ouster and killing of former dictator Moamer Kadhafi in 2011.


Source:   Libya Today
January 23, 2024 14:36 UTC