Libya announces partial production cuts at Sharara oil field
(MENAFN) The Libyan National Oil Corporation (NOC) announced on Tuesday the commencement of a partial reduction in production from the Sharara oil field due to force majeure conditions brought about by sit-ins organized by the Fezzan Movement. The NOC's statement highlighted the impact of these protests on the field's operations, which has necessitated a decrease in output. The corporation called on all concerned parties to prioritize national interests and support efforts to stabilize and increase oil production in the country. The reduction in production from Sharara, one of Libya's largest oil fields with a capacity of about 300,000 barrels per day, underscores the ongoing challenges faced by the nation's oil sector amidst political and social unrest.
Libya's internationally recognized government condemned the attempts to shut down the Sharara oil field, labeling these actions as "political blackmail." The government's response on Sunday emphasized the detrimental impact of these shutdowns on the nation's economy and the overall stability of the oil industry. The Sharara field has frequently been targeted by protesters for various political reasons, reflecting the broader instability and factionalism within the country. The government's denunciation of the shutdown attempts highlights the ongoing struggle to maintain consistent and stable oil production in the face of persistent disruptions.
The Sharara oil field, due to its significant production capacity, plays a crucial role in Libya's oil output and economic stability. The frequent targeting of this field by protesters underscores the vulnerabilities faced by the nation's oil sector. The NOC's call for support from all parties to stabilize and enhance production efforts is a critical step towards mitigating the impact of these disruptions. Ensuring the continuous and stable operation of the Sharara field is essential for Libya's economic health, particularly as the country navigates through its complex political landscape and strives to maintain its position in the global oil market.
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