FILE PHOTO: Pipes at the El Sharara oilfield © Reuters / Ismail Zitouny
OilPrice.com: Libya Restarts Oil Production At Its Largest Oilfield
Libya has restarted production at its largest field, Sharara, as peace talks began between eastern and western forces.
The national Oil Corporation announced it had lifted the force majeure on Sharara after reaching an agreement with the Petroleum Facilities Guard to “end the entire obstacles that face Al Sharara Field in a way that guarantees there will be no security breaches and in a way that enables the National Oil Corporation to lift the force majeure status and resume production in Al Sharara Oil Field.”
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Update #1: Libya to resume oil production at largest field amid talks (AP)
Update #2: Oil prices fall 3% as U.S., Libyan, Norwegian supplies resume (CNBC/Reuters)
WNU Editor: The war has not ended. This re-opening of oil production and its impact on oil markets will be moot.
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