Libya has declared a force majeure on oil exports, even as oil prices worldwide are crashing. Libya’s National Oil Company (NOC) has said that crude oil production has been shut in from four of Libya’s oilfields, including the prolific El Sharara. El Sharara, Libya’s largest oilfield, has a capacity of 300,000 bpd.
Other oilfields that are shut in include El Feel, Wafa, and Hamada. The oilfields were shut in by members of the Petroleum Facilities Guard (PFG), which is tasked with protecting the oilfields, according to the NOC.…Libya Declares Force Majeure On Crude Oil Exports
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