Libya to Cut Oil Production Due to Protests
We are talking about fishing at the Al–Sharara field, about 300 thousand barrels are produced per day.
The Libyan National Oil Corporation (NOC) has announced the beginning of a reduction in oil production at one of the country‘s largest fields, Al–Sharara, due to the actions of protesters.
“The National Oil Corporation announces the beginning of a partial reduction in oil production at the Al–Sharara field due to force majeure circumstances resulting from a sit-in,“ the NOC said in a statement posted on its Facebook page (banned in Russia; owned by Meta Corporation, recognized as extremist in the Russian Federation). The corporation announced that the protests were organized by residents of the Fezzan region in the south–west of the country, and promised to make the necessary efforts “to stabilize the situation with oil production.“
The Al–Sharara field is located in the south–west of Libya and is one of the largest in the country: its proven reserves amount to at least 3 billion barrels, and about 300 thousand barrels are produced per day. In early January 2024, it was forced to suspend its work due to the actions of protesting residents of Fezzan, who explained their actions by disagreement with the state of affairs in the country and their region.
On January 21, Al–Sharara resumed work. At that time, the Libya al–Ahrar TV channel claimed that residents of the Fezzan region met with the head of the NOC, Farhat Bengdar, and he agreed to satisfy the demands made by the protesters in return for them to leave the field. Information on the reason for the strike in Al–Sharar has not yet been provided.
