• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 1 hour OPEC will consider all options. What options do they have ?
  • 6 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents, building nukes * Too late now
  • 12 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 3 hours What to tell my students
  • 3 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 3 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 16 hours With Global Warming Greenland is Prime Real Estate
  • 7 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 4 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 2 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 1 day Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 23 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 8 hours Flaring is at Record Highs in Texas
Alt Text

U.S. Is Now Largest Oil… And Gas Producer In The World

Petroleum and natural gas production…

Alt Text

The U.S. Plans To Send Nuclear Reactors To Space

Despite the nuclear industry stumbling…

Alt Text

Shale Bankruptcies Are On The Rise

The number of shale bankruptcies…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Oil Prices Fall Despite Shutdowns Of Major Libyan Oil Fields

A blockade of pipelines at the hands of armed militants has shut down production at three Libyan oil fields, including the biggest one, Sharara.

Sharara stopped pumping oil a week ago, after a militant group seized control of the pipeline that feeds crude from it to the Zawiya export terminal, and is still idle, a person familiar with the situation told Bloomberg.

In addition to 270,000-bpd Sharara, El Feel—which pumped over 26,000 bpd in April—has also stopped production, a source from the Petroleum Facilities Guard that controls security at the field told Bloomberg. The National Oil Corporation has declared force majeure for the field, and for another one as well, the Hamada, said a spokesman for Arabia Gulf Oil Co, due to a blockade on the pipelines carrying oil from the two fields.

The output suspension is the latest in a string of earlier ones, most focused on Sharara, which supplied around a quarter of Libya’s total—1.02 million bpd as of July—before production started gradually being reduced after two vehicle thefts that led to a tightening of security measures at the field including limiting access of personnel to some parts of the field.

Earlier this year, in April, Sharara and El Feel both stopped pumping after an armed group blocked the pipeline from Sharara—the bigger field supplies electricity to El Feel. Since then, Sharara has been the target of several additional attacks that have led to output suspensions.

 Related: Blockchain Tech As A Hedge Against Low Oil Prices

The field has a capacity of 330,000 bpd, while El Feel could produce 90,000 bpd if it operates at capacity. Hamada is the smallest of the three, yielding 10,000 bpd as of three years ago.

Despite the disruptions, crude oil is down, with Brent trading at US$51.85 a barrel at 10:00 CST, down 1.07 percent, and WTI at US$46.72, down 2.4 percent.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage


Leave a comment
  • Citizen Oil on August 29 2017 said:
    Big draws, oil down. Gulf of Mexico hurricane, oil down. OPEC cuts for 18 months, oil down. This indicates traders and stock investors do not trust these guys anymore. If they are not careful and try to fool the market again oil is going to be shunned like the plague and may put the nail in the coffin a lot sooner than the 2030 or 2040 estimates.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play