Ahmad 
The National Oil Corporation in Libya announced yesterday, Wednesday, a state of force majeure in the Sharara oil field, effective from August 7.
The corporation explained in a statement that the current conditions in the field, which is one of the largest oil fields in the country with a production capacity of up to 300 thousand barrels per day, hinder the loading of crude oil, which prompted it to take this decision.
The corporation indicated that these conditions will lead to the suspension of oil operations in the field, in addition to their impact on oil export operations from the port of Zawiya.
It is noteworthy that the corporation had begun gradually reducing the field’s production since last Tuesday due to what it described as “force majeure conditions resulting from the sit-in of the Fezzan Movement.”
The Sharara field, located in southwestern Libya, has been subjected to protests and sit-ins by local residents on several occasions. The field is operated by a joint venture between the National Oil Corporation and several international companies, including the Spanish “Repsol”, the French “Total Energies”, the Austrian “OMV”, and the Norwegian “Equinor”.
This event comes amid the turbulent security and political situation in Libya, which directly affects oil production, the vital source of the country’s economy.
The suspension of operations at the Sharara field is expected to have a negative impact on Libyan oil exports, increasing the economic challenges facing the country.
A Bitcoin mining network was seized in Benghazi