After a week’s blockade by a militant group, Libya’s largest oil field, Sharara, has been shuttered by a force majeure declaration by the National Oil Corporation. Reuters cited a statement issued by NOC, saying that production from the field will resume when “alternative security arrangements are put in place.” This force majeure follows another one from last week that covered exports from the blocked field, which pumps more than 300,000 bpd, contributing almost a third of Libya’s national total. The latest problems for the field, which has already become the target of several production interruptions this year, began a week ago. Initial reports said the blockaders comprised local tribesmen and members of the Petroleum Facilities Guard—the group that until two years ago held control of Libya’s four export terminals in the Oil Crescent, demanding payment from the government to allow crude to be exported, severely affecting production. Later during […]