Libya is facing a major oil crisis as a group comprising local tribesmen and members of the field’s security guard seized the largest field in the country, Sharara. Reuters reported the field had already shut down on Sunday, quoting petroleum engineers working on the site. At the time, however, The National Oil Corporation said in a statement quoted by S&P Global Platts, “The oilfield at present remains open.” Today, however, Reuters carried a report citing a statement from NOC that said the company had declared force majeure on exports from the Sharara field. The danger of it shutting down, however, remains serious as NOC acknowledged in its statement. “A shutdown of the Sharara field would result in a production loss of 315,000 b/d, with a knock-on effect of 73,000 b/d at El Feel due to its dependence on Sharara electricity supply,” the company said, adding “Supply to the Zawiya […]