The British S&P Global Platts reported in its article today, Monday, that protesters from the Ubari region in the south of the country have taken to the streets in recent days amid anger over rising fuel prices and a shortage of economic opportunities. El-FeelField, with a capacity of 70,000 barrels per day, has also been closed.
A source, who requested anonymity, told S&P Global Platts that the Sharara field, managed by a joint project between the National Oil Corporation, Equinor, OMV, Repsol, and TotalEnergies, will be forced to stop pumping.
The agency pointed out that the coercive force may have an impact on crude oil prices in the Mediterranean, where the Azerbaijan and Algeria blend is likely to see an increase in production.
The agency continued, stating that Libyan oil is highly popular among refineries in the Mediterranean and northwest Europe. Libya’s oil production is still much lower than the 1.6 million barrels per day it produced before the 2011 uprising in the country. In November, production reached 1.12 million barrels per day, according to the latest monthly survey conducted by the British Blats company for OPEC.