Sources: Libya's Sharara oilfield shut by pipeline blockade - RTRS

Dhwani Mehta FXStreet

Reuters quoted the industry sources and an engineer on Monday, citing that Libya's largest oilfield - Sharara, has been shut down since Saturday because of a pipeline blockade.

According to a document seen by Reuters, Libya’s state-owned National Oil Corporation (NOC) declared force majeure on loadings of Sharara crude from the Zawiya oil terminal on Sunday.

Sharara's production is key to a revival in Libya's oil output, which surged above 1 million bpd in late June, about four times higher than its level last summer.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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