Libya Restarts Oil Production at Biggest Field
- Date: 11-Oct-2020
- Source: The Wall Street Journal
- Sector:Oil & Gas
- Country:Middle East
Libya Restarts Oil Production at Biggest Field
Production at Libya's largest oil field restarted Sunday afternoon, Libyan officials said, a move that could quickly increase the country's overall output after an extended shutdown and add to a glut of oil on world markets that has kept prices low.
Libya's central government and rebel commander Khalifa Haftar agreed last month to lift a nine-month oil blockade after the two sides resolved a dispute over oil revenue distribution. The country's oil output has already increased to 300,000 barrels a day from about 100,000 barrels a day in the past two weeks.
Sharara can contribute an additional 300,000 barrels a day, the officials said. Its