Libya's Oil Production Hangs in Balance as Field Shutdown Looms

The National Oil Corporation (NOC) in Libya is considering declaring force majeure due to the shutdown of oil production at the Hamada and Tahara fields.

According to NOC, representatives of the Petroleum Facilities Guard closed a valve on the main Hamada, Zawiya oil pipeline, forcing the pumping station to shut down.

The corporation warned that it could invoke force majeure if the closed valve is not reopened or similar shutdowns affect other oil fields.

The Petroleum Facilities Guard has announced plans to partially reduce production at several more fields within one week, including Wafa, Al-Hamisi and El-Feel, unless its demands are met.