Libya’s National Oil Corp says output stopped at major oil ports, fields

Libya’s National Oil Corp says output stopped at major oil ports, fields

Libya’s National Oil Corp warned on Monday of a “painful wave of closures” and declared force majeure on some output and exports as forces in the east expanded their blockade of the sector over a political standoff. The company said it could no longer implement contractual obligations for oil deliveries from Zueitina terminal or from its biggest oil field, Sharara, after saying on Sunday it had halted production at another field, El Feel.

For the latest headlines, follow our Google News channel online or via the app. With global energy markets already restricted due to the Ukraine crisis, more losses from Libya’s recent 1.2 million barrels-per-day average output will put further pressure on prices. NOC said the closures were caused by “a group of individuals” entering facilities. Groups in eastern Libya protesting at oil plants want the Tripoli-based prime minister to quit in favour of a recently appointed rival.