The Libyan National Oil Corporation has announced that an armed group has closed a pipeline used to transport crude oil from the Sharara field, one of the country's largest oil fields. The closure has resulted in a partial reduction in production at the field. According to the corporation, continued closure of the pipeline will lead to a halt in production at the Sharara field and disruptions to transportation and export operations.
The Libyan National Oil Corporation has warned that continued closure of the pipeline could lead to a halt in production at the Sharara field and disruptions to transportation and export operations. This would negatively impact the country's overall revenue and expose the oil transportation system and its facilities to technical and operational risks. The corporation has called on the group to immediately reopen the pipeline.
The Sharara field, located in southwestern Libya, has a production capacity of approximately 300,000 barrels per day. However, production has been reduced to between 100,000 and 105,000 barrels per day due to the pipeline closure. The field has experienced repeated shutdowns and disruptions in recent years due to protests, political disputes, and technical issues.
The Libyan National Oil Corporation has also warned that continued closure of the pipeline could lead to a halt in operations at the Zawiya refinery, which would increase the country's import bill for fuel. The corporation has called on the relevant authorities to take responsibility for securing and protecting oil facilities and keeping them away from protests and similar incidents.
The corporation has emphasized that oil and its facilities are "the property of the Libyan people" and that protecting these resources and ensuring continued production is a shared national responsibility. The corporation has stated that it may be forced to declare a force majeure if the pipeline remains closed.
The incident is the latest in a series of disruptions to Libya's oil facilities and transportation lines in recent weeks. Last week, a valve on a major crude oil transportation line was closed, leading to a halt in production at other fields. The Libyan National Oil Corporation has urged calm and emphasized the need for a peaceful resolution to the situation.
The situation in Libya's oil sector remains uncertain, with the corporation working to resolve the issue and restore production at the Sharara field. The country's oil production has been impacted by repeated disruptions in recent years, with the sector being a key source of revenue for the country.
Key points
- The Libyan National Oil Corporation has warned of consequences after an armed group closed a pipeline used to transport crude oil from the Sharara field.
- The closure has resulted in a partial reduction in production at the field, with production reduced to between 100,000 and 105,000 barrels per day.
- The corporation has called on the group to immediately reopen the pipeline, warning of negative impacts on the country's revenue and oil transportation system.
