Current:Home > FinanceFastexy Exchange|Libya says it suspended oil production at largest field after protesters forced its closure -Elevate Capital Network
Fastexy Exchange|Libya says it suspended oil production at largest field after protesters forced its closure
Oliver James Montgomery View
Date:2025-04-08 00:09:47
CAIRO (AP) — Production at Libya’s largest oil field was suspended Sunday,Fastexy Exchange 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! (9)
Related
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Off-duty Atlanta police officer shot, killed while reportedly trying to break into house
- SpongeBob SquarePants Actors Finally Weigh in on Krabby Patty Secret Formula
- Giancarlo Stanton's late homer gives Yankees 2-1 lead over Royals in ALDS
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Netflix's 'Heartstopper' tackled teen sex. It sparked an important conversation.
- Opinion: Now is not the time for Deion Sanders, Colorado to shrink with Kansas State in town
- Milton Pummels Florida, the Second Major Hurricane to Strike the State in Two Weeks
- A Georgia governor’s latest work after politics: a children’s book on his cats ‘Veto’ and ‘Bill’
- Twins born conjoined celebrate 1st birthday after separation surgery
Ranking
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Sean ‘Diddy’ Combs to make first appearance before trial judge in sex trafficking case
- Nicholas Pryor, Beverly Hills, 90210 and Risky Business Actor, Dead at 89
- Wisconsin dams are failing more frequently, a new report finds
- Jury finds man guilty of sending 17-year-old son to rob and kill rapper PnB Rock
- Minnesota Twins to be put up for sale by Pohlad family, whose owned the franchise since 1984
- Opinion: College leaders have no idea how to handle transgender athlete issues
- Jennifer Lopez says divorce from Ben Affleck was 'probably the hardest time of my life'
Recommendation
Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
Keanu Reeves, Sandra Bullock reunite to talk surviving 'Speed,' 30 years later
TikTok sued by 13 states and DC, accused of harming younger users
Tampa Bay was spared catastrophic storm surge from Hurricane Milton. Here's why.
Judge says Mexican ex-official tried to bribe inmates in a bid for new US drug trial
When will Christian McCaffrey play? Latest injury updates on 49ers RB
Lisa Marie Presley Shares She Had Abortion While Dating Danny Keough Before Having Daughter Riley Keough
Opinion: Now is not the time for Deion Sanders, Colorado to shrink with Kansas State in town