Armed Group Cuts Libya's Sharara Oil Field Output in Half

The Sharara oil field in Libya has seen a sharp drop in crude oil production due to an armed military group shutting down a pipeline valve.

The National Oil Corporation (NOC) reported that Valve No. 7 on the pipeline was closed, causing pressure buildup and resulting in a significant reduction in output at Sharara.

Before the incident, Sharara was producing approximately 340,000 barrels per day of crude oil.

The NOC warned that if the shutdown continues, it may be forced to declare force majeure on Sharara output and exports, which would negatively impact the national economy and expose the oil transport system to technical risks.