Sharara Oilfield Faces Disruption as Libya's NOC Declares Force MajeureOn a consequential Sunday, Libya's National Oil Corporation (NOC) made the critical decision to declare force majeure at the Sharara oilfield, a major production hub with a capacity of up to 300,000 barrels per day. This latest disruption is emblematic of a longstanding trend, with the Sharara field often becoming a focal point for local and broader political protests. Negotiations are currently underway with the aim of swiftly resuming production at the Sharara oilfield. However, the NOC did not provide a specific timeline for the resolution of the issues leading to the force majeure declaration. This recent force majeure declaration at the Sharara oilfield echoes a similar event in July when tribal protesters halted production at not only Sharara but also Elfeel and 108 fields.

Source: Libya Today January 08, 2024 09:29 UTC