• 1 day The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 10 hours European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 3 days Demonising fossil fuels has caused major grid problem in Australia
  • 8 days "And this is perhaps the most dangerous kind of government there can be."
  • 2 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 5 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 329 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 7 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others
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 Pull Higher On Outage In Libya’s Biggest Oil Field

Production from Sharara, Libya’s biggest oil field, has stopped again, unnamed sources told Bloomberg. The sources said the pipeline that carries crude from Sharara to the Zawiya export terminal stopped operating on Sunday, without giving any further details.

The field produces 200,000 barrels of crude daily, contributing a large part of the country’s overall output, which stood at 700,000 bpd before last week. The first suspension of production at Sharara, as well as at a neighboring field, Wafa, occurred two weeks ago, when unnamed armed factions blocked the pipeline carrying oil to the coast, cutting the country’s total output by 252,000 bpd.

Last week, however, the National Oil Corporation said that after intervention from its chairman Mustafa Sanalla, the militia men agreed to release the pipeline, so the oil flow could be resumed.

The Sharara field was just restarted in December 2016, and NOC said that it planned to increase output from it to the 330,000 bpd it pumped before the civil war, aiming for a national total of 900,000 bpd in the next few months and 1.1 million bpd at the end of 2017.

Last month, clashes between the Libyan National Army, which controls the four biggest oil export terminals in the Oil Crescent in eastern Libya, and the Benghazi Defense Brigades caused the shutdown of two terminals, Ras Lanuf and Es Sider.

The situation was resolved relatively quickly, with the LNA regaining control of the ports. However, the situation remains fragile as evidenced by the emergence of a new group in eastern Libya that has threatened to block the flow of oil from the two biggest fields in that part of the country, which together yield 170,000 bpd of crude – over 25 percent of Libya’s total daily output.

All these events have given oil prices a wild ride on the seesaw, and this latest production stoppage is bound to have the same effect on benchmarks.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News