Libya restarts production, exports from country’s largest oil field(Bloomberg) – Libya is restarting oil exports and production from its largest oil field after it had been shuttered for about three weeks. Production at Sharara, which previously pumped about 270,000 bpd, will resume and force majeure, a clause in contracts allowing deliveries to be suspended, will be lifted, the OPEC country’s state-run National Oil Corp. said in a statement. The restart came after the government in Tripoli agreed to implement most of the demands from protesters, Deputy Prime Minister Ramadan Boujannah told Libya’s Al-Ahrar TV earlier Sunday. Sharara’s closure cut Libya’s oil production to below 1 MMbpd for the first time in months. The North African nation managed to keep production stable at around 1.2 MMbpd for most of the last year.

Source: Libya Today January 23, 2024 03:23 UTC