Libya’s national oil corporation has in a statement, announced that production will resume at the country’s largest oil field, after three weeks outage.
Earlier this month, protesters had shut down the field and said that they will not allow the NOC to reopen until their demand for job creation, and more infrastructure in the local communities were met. This made the NOC to declare force majeure on El Sharara, days later.
“The loss of confidence in the continuity of supplying the global market with Libyan oil will result in Libyan oil remaining unmarked,” the Libyan oil ministry said in a statement at the time.
El Sharara is Libya’s largest total crude oil output contributor, with a 300,000-bpd production capacity. Before the outage, it was producing around 270,000 bpd. With the field shutdown, its total output slipped below 1 million barrels daily for the first time in months.
Oil fields in Libya, remain protesters main target to send a message. El Sharara is their top target due to their knowledge of its importance to the Libyan economy.
