PredictIQ:Libya says it suspended oil production at largest field after protesters forced its closure

2025-05-05 09:27:22source:VaultX Exchangecategory:reviews

CAIRO (AP) — Production at Libya’s largest oil field was suspended Sunday,PredictIQ the country’s state-run oil company said, after protesters forced the facility to close over fuel shortages.

The National Oil Corp. declared force majeure at the Sharara oil field in the country’s south starting Sunday. Force majeure is a legal maneuver that releases a company of its contractual obligations because of extraordinary circumstances.

The company said in a statement that the closure of the field forced the suspension of crude oil supplies to the western Zawiya terminal on the Mediterranean coast.

Libya produces more than 1.2 million barrels of oil per day, and Sharara is the country’s largest field, with a capacity of up to 300,000 barrels per day.

Other news Over 60 people have drowned in the capsizing of a migrant vessel off Libya, the UN saysIn 2023, calamities of war and disaster were unleashed again on an unsettled Middle EastLibya’s eastern government holds conference on reconstruction of coastal city destroyed by floods

The company said negotiations with the protesters were underway to resume production “as soon as possible.”

Local media reported that residents of the desert town of Ubari, about 950 kilometers (590 miles) south of the capital Tripoli, shut down the field to protest fuel shortages.

The protesters also called for rehabilitating infrastructure and repairing roads in the southwestern region of Fezzan, one of the historic three provinces of Libya. They had closed the field for two days in July.

Libya’s light crude has long featured in the country’s yearslong civil conflict, with rival militias and foreign powers jostling for control of Africa’s largest oil reserves.

Libya has been in turmoil since a NATO-backed uprising toppled and killed longtime dictator Moammar Gadhafi in 2011. The North African nation has for most of the past decade been split between rival administrations in the east and the west, each backed by militias and foreign governments.

More:reviews

Recommend

South Korean president's party divided over defiant martial law speech

SEOUL, Dec 12 - South Korean President Yoon Suk-yeol's switch from contrition to defiance on Thursda

Enrollment increases at most Mississippi universities but 3 campuses see decreases

JACKSON, Miss. (AP) — Overall enrollment increased at Mississippi’s public universities this fall se

Lala Kent Details Taylor Swift Visiting Travis Kelce on Are You Smarter Than a Celebrity? Set

Taylor Swift certainly made an enchanting appearance on the set of Are You Smarter Than a Celebrity?