Oil Spikes On Reports Libya Shuts Down Nearly All Its Oil Fields | ZeroHedge

https://www.zerohedge.com/energy/libya-loses-11-million-bpd-it-shuts-down-nearly-all-its-oil-fields

https://www.aljazeera.com/economy/2022/3/3/libyas-biggest-oil-field-halts-producing-as-crisis-deepens#amp_tf=From%20%251%24s&aoh=16551656469912&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.aljazeera.com%2Feconomy%2F2022%2F3%2F3%2Flibyas-biggest-oil-field-halts-producing-as-crisis-deepens

Production was halted at Libya’s biggest oil field and protesters threatened to keep a key export terminal closed, as the OPEC nation plunged deeper into political crisis.

The Sharara field, which produces 290,000 barrels a day, was closed Thursday after an unknown group shut down one of its main valves, according to people familiar with the situation. They asked not to be identified as they weren’t authorized to speak to the media.

Libya is losing oil production at the rate of 1.1 million barrels daily, the country’s oil minister Mohammed Aoun has said, adding that almost all of the country’s oil fields were shut down.

Libya’s largest field, El Sharara, was shut down last month along with El Feel, with reports saying that it was groups affiliated with the eastern parliament that shut down oil production, among them the Libyan National Army of Halifa Khaftar.

According to Aoun, however, “it appears that the closure instructions were issued by an official body, the Petroleum Facilities Guard in the closure areas.”

Libya is currently in the throes of yet another flare-up of violence as two politicians vie for the post of Prime Minister: interim PM Abdul Hamid Dbeibah and eastern-affiliated Fathi Bashaga. According to reports, the groups shutting down fields and export terminals are affiliated with the Bashaga camp.

Bashaga has been sworn in as the new prime minister of the country, but Dbeibah has refused to step down.

According to the oil minister, the only functioning fields right now in Libya are Hamada and the Mellitah complex, with the Wafa field producing from time to time.


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