Three Major Oil Fields Reported to Be Paralyzed
10 Articles
10 Articles
Suspension comes after Petroleum Facilities Guards members shut valve on main Hamada-Zawiya export pipeline, according to Libya's National Oil Corporation
Libya's National Oil Company (NOC) announced that production at three oil fields has been suspended after a member of the Petroleum Facilities Guard blocked a valve on the main Hamada-Zawiya crude pipeline. We will be covering similar topics at our Portfolio Investment Day conference on October 21. One of the biggest investment events of the year is coming up, where professional experts will tell you what to invest in now. Register here.
According to Reuters, the future contracts of Brent's ore increased by 1.7%, while future contracts of American ore increased by 2.1%, following a statement by the National Petroleum Corporation of Libya that it might have to declare force majeure, following the closure of a group of protesters in oil fields.
Work has been halted at Libyan oil fields after security forces closed a pipeline valve. The NOC warns of a force majeure situation, while production has stopped at Hamada, Tahara and NC5.
In Libya, oil production in the region has completely stopped after a group of Oil Facilities Guards shut off the valve of the Hamada-Zawiya main oil pipeline.
The National Oil Corporation (NOC) warned of the possibility of declaring force majeure after a group of Petroleum Facilities Guards illegally closed a valve on the main oil pipeline in the Hamada-Zawiya region on Tuesday morning. The NOC stated that the valve closure led to a complete halt in production and operations at the Hamada (NC8), Tahara (NC4), and Station (NC5) fields, and warned of further action.
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