Closure of Libya’s largest oil field deepens east-west divisions - News Summed Up

Closure of Libya’s largest oil field deepens east-west divisions


Libya’s infighting and east west divisions are adding to the oil supply disruptions in the country after the shutdown of the country’s largest oil field. The Internationally recognized Libyan National Oil Corporation NOC warned last December that the closure of its biggest El Sharara oil field by tribesmen claiming higher wages has reduced the country’s production capacity to 953,000 bpd compared to 1.6 million bpd before the civil war. The eagerly awaited oil production increase from Libya, which could supposedly mitigate the effects of falling production from Iran and Venezuela, now seems unlikely to happen as the El Sharara oil field has been closed since mid-December. The possibility to take control over Sharara could not only give the eastern forces control over Libya’s biggest oil field, but could also put nearly all of Libya’s oil industry in the hands of the eastern general. Haftar’s opponents could also fiercely oppose the eastern general taking control over Sharara, which could further undermine the security situation in Libya and around its key oil field.


Source: The North Africa Journal January 22, 2019 18:07 UTC



Loading...
Loading...
  

Loading...

                           
/* -------------------------- overlay advertisemnt -------------------------- */