Libya Halts Sharara Oil Loadings as Biggest Field Shuts Down
- National Oil Corp. declares force majeure at Zawiya terminal
- Western Sharara oil field was producing 200,000 barrels a day
Libya Returns as Possible Risk to the Oil Markets
Libya’s biggest oil field stopped producing just one week after it reopened, forcing the OPEC member to declare force majeure at a key export terminal, the latest disruptions to the country’s output and shipments of crude.
The pipeline carrying crude from the Sharara field to the Zawiya refinery stopped operating on Sunday, according to two people familiar with the matter who asked not to be identified because they’re not authorized to speak to the media. It wasn’t clear why the pipeline was shut. The National Oil Corp. declared force majeure on loadings of Sharara crude from the Zawiya oil terminal, citing a halt in production at the field, according to a copy of the NOC’s decree obtained by Bloomberg.