Armed Group Shuts Libya Pipeline Valve at Key Oil Field

Email: online@newsofbahrain.com

Tripoli: An armed group blocked a valve on a major crude oil pipeline connecting Libya's Sharara oilfield, resulting in a considerable drop in output and raising concerns about further disruptions to the country's oil exports.

Libya's National Oil Corporation (NOC) stated that the group had blocked Valve No. 7 on the pipeline that transports petroleum from the Sharara field in southern Libya to the Zawiya area on the Mediterranean coast. The NOC reports that the closure has cut oil flows from the field by around 200,000 barrels per day.

Sharara is Libya's largest oilfield, with the capacity to produce approximately 300,000 barrels per day. The field is controlled by a consortium that includes Libya's state-owned NOC and multinational energy corporations.

The NOC cautioned that prolonged halt would result in extra production cuts, which would ultimately impact exports and operations at the Zawiya refinery. The company stated that if the disruption persists and keeps it from fulfilling its contractual responsibilities, it may declare force majeure.

Since the country's 2011 uprising, political disputes, protests, and armed group attacks have frequently impacted Libya's oil infrastructure. Libya's economy depends heavily on oil earnings, therefore big pipeline and field outages are especially important.

Libya's attempts to sustain steady oil production and exports are further complicated by the most recent event, given the nation's ongoing political and security tensions.

Photo: File Image