RIYADH: Libya shut down its largest oil field on Monday and warned of further disruptions, as a wave of demonstrations against the prime minister engulfs the OPEC member’s energy industry, Bloomberg reported.
Libya's natural production of about 1.2 million barrels per day could be cut by more than half, according to Bloomberg’s estimates.
The Sharara field in the west of the country was closed after protesters gathered at the site demanding Abdul Hamid Dbeibah’s ouster, according to people familiar with the matter.
The state-owned National Oil Company also officially stopped shipments from the eastern port of Zueitina on Monday.
The National Oil Corporation, Known as NOC, has also announced force majeure — a clause in contracts allowing exports to be stopped — from Mellitah, a western port fed by Sharara and El Feel.
The employees of the Zueitina, Mellitah, Sarir and AGOCO companies were forced to stop production completely and gradually, the NOC said.
Sharara capacity is about 300,000 barrels per day, while El Feel can pump 65,000 barrels daily, according to Bloomberg.
Production may stop across the country if protesters follow through on threats to the ports of Es Sider and Ras Lanuf.
“The NOC has always stressed the importance of neutralizing the oil sector and avoiding the political conflicts in the country,” it said in a statement.
