Current:Home > InvestEchoSense:Libya says production has resumed at its largest oilfield after more than 2-week hiatus -Nova Finance Academy
EchoSense:Libya says production has resumed at its largest oilfield after more than 2-week hiatus
Surpassing Quant Think Tank Center View
Date:2025-04-08 16:19:39
CAIRO (AP) — Libya’s state-owned oil company resumed production at the country’s largest oilfield Sunday,EchoSense ending a more than two-week hiatus after protesters blocked the facility over fuel shortages.
The National Oil Corp. said in a terse statement that it lifted the force majeure at the Sharara oil field in the country’s south and resumed full production. It didn’t provide further details. Force majeure is a legal maneuver that releases a company from its contractual obligations because of extraordinary circumstances.
The company had activated the maneuver on Jan. 7 after protesters from the desert town of Ubari, about 950 kilometers (590 miles) south of the capital, Tripoli, shut down the field to protest fuel shortages.
Over the past two weeks the company’s chief, Farhat Bengdara, and military officials from eastern Libya have been negotiating with the protest leaders, Fezzan Group.
Barzingi al-Zarrouk, the protesters’ spokesman, announced that they have suspended their protest after they reached agreement with the company.
He said the agreement was brokered by the self-styled Libyan National Army, which is commanded by powerful military general Khalifa Hifter. Hifter’s forces control Libya’s east and much of the south.
The protesters have reportedly called for rehabilitating infrastructure and repairing roads in the southwestern region of Fezzan, one of the historic three provinces of Libya. They previously closed the field for two days in July.
Libya’s light crude has long featured in the country’s yearslong civil conflict, with rival militias and foreign powers jostling for control of Africa’s largest oil reserves.
Libya has been in turmoil since a NATO-backed uprising toppled and killed longtime dictator Moammar Gadhafi in 2011. The North African nation has for most of the past decade been split between rival administrations in the east and the west, each backed by militias and foreign governments.
veryGood! (7)
Related
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Mike Batayeh, Breaking Bad actor and comedian, dies at age 52
- ‘This Was Preventable’: Football Heat Deaths and the Rising Temperature
- Exxon’s Climate Fraud Trial Nears Its End: What Does the State Have to Prove to Win?
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Jennifer Lopez Reveals How Her Latest Role Helped Her Become a Better Mom
- Don't Let These 60% Off Good American Deals Sell Out Before You Can Add Them to Your Cart
- Canadian Court Reverses Approval of Enbridge’s Major Western Pipeline
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Médicos y defensores denuncian un aumento de la desinformación sobre el aborto
Ranking
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Today’s Climate: September 3, 2010
- Jennifer Lopez Reveals How Her Latest Role Helped Her Become a Better Mom
- WHO renames monkeypox as mpox, citing racist stigma
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- How Abortion Bans—Even With Medical Emergency Exemptions—Impact Healthcare
- Destructive Flood Risk in U.S. West Could Triple if Climate Change Left Unchecked
- Summer Nights Are Getting Hotter. Here’s Why That’s a Health and Wildfire Risk.
Recommendation
Pressure on a veteran and senator shows what’s next for those who oppose Trump
Today’s Climate: August 20, 2010
In the hunt for a male contraceptive, scientists look to stop sperm in their tracks
5 strategies to help you cope with a nagging feeling of dread
In ‘Nickel Boys,’ striving for a new way to see
Today’s Climate: August 27, 2010
Hurricane Lane Brings Hawaii a Warning About Future Storm Risk
Judge’s Ruling to Halt Fracking Regs Could Pose a Broader Threat to Federal Oversight