Current:Home > InvestLibya says it suspended oil production at largest field after protesters forced its closure -FutureWise Finance
Libya says it suspended oil production at largest field after protesters forced its closure
View
Date:2025-04-17 05:30:39
CAIRO (AP) — Production at Libya’s largest oil field was suspended Sunday, 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.
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.
veryGood! (1365)
Related
- Don't let hackers fool you with a 'scam
- Alaska ombudsman says Adult Protective Services’ negligent handling of vulnerable adult led to death
- Democratic lawmakers in New Mexico take aim at gun violence, panhandling, retail crime and hazing
- Michigan to pay $1.75 million to innocent man after 35 years in prison
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Ford vehicles topped list of companies affected by federal recalls last year, feds say
- Mass shooting at Buffalo supermarket now Justice Department’s first death penalty case under Garland
- Federal jury finds Puerto Rico ex-legislator Charbonier guilty on corruption charges
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- Former Connecticut mayoral candidate pleads guilty to Jan. 6 Capitol breach charge
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Michael J. Fox explains why 'Parkinson's has been a gift' at National Board of Review gala
- Spain forward Jenni Hermoso says former coach Jorge Vilda made players feel uncomfortable
- More than 30 Palestinians were reported killed in Israeli airstrikes in the Gaza Strip
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- The Supreme Court will decide whether local anti-homeless laws are ‘cruel and unusual’
- Sushi restaurants are thriving in Ukraine, bringing jobs and a 'slice of normal life'
- Virginia county admits election tally in 2020 shorted Joe Biden
Recommendation
Trump's 'stop
Stop, Drop, and Shop Free People’s Sale on Sale, With an Extra 25% Off Their Boho Basics & More
Tearful Russian billionaire who spent $2 billion on art tells jurors Sotheby’s cheated him
What’s at stake in Taiwan’s elections? China says it could be a choice between peace and war
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Ford vehicles topped list of companies affected by federal recalls last year, feds say
Ohio, more states push for social media laws to limit kids’ access: Where they stand
'Ran into my house screaming': Woman wins $1 million lottery prize from $10 scratch-off