Major Libyan Oil Field Fully Halted as Tensions Resurface
- Sharara began shutting late Thursday and closed overnight
- Production at the smaller El Feel project also closed earlier
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A major oil field in Libya was fully halted as political tensions resurfaced in the nation that sits atop Africa’s biggest reserves.
The Sharara deposit in the southwest of the country began halting late Thursday. It has now fully stopped, the nation’s oil and gas minister Mohamed Oun confirmed the stoppage by text message. Oil prices jumped when news of the disruption, which also affected the nearby El Feel field, first emerged.