Libya Threatens Force Majeure as Oil Guards Shut Fields

AI Summary

Libya's National Oil Corporation threatens to declare force majeure after security forces shut key oil pipelines and halted production at multiple fields, including Hamada and Tahara. The shutdown, led by the Petroleum Facilities Guard, risks spreading further disruptions to the country’s oil output.

Libya’s National Oil Corporation is threatening to declare force majeure after members of the security force assigned to protect the country’s oil infrastructure shut a pipeline valve and halted production at two fields. Production has stopped completely at the Hamada and Tahara oilfields and at a pumping station after members of the Petroleum Facilities Guard closed a valve on the main Hamada-Zawiya crude pipeline, NOC said Tuesday. The shutdown could spread. The Petroleum Facilities Guard said it would impose partial production cuts…