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Libya“s oil production fell to its lowest levels in five months after the stoppage by force majeure of operations at the Sharara field. the country“s largest. Bloomberg agency reported Friday.
The state-owned National Oil Corp (NOC) announced that the field. which produces about 290.000 barrels a day. suspended its work on Tuesday night after the closure of a valve in the pipeline that connects it with the Zawiya crude oil terminal.
In a statement. NOC specified that it tried to `reopen the valve but a local armed group prevented it.`
The halt in production at Libya`s largest field severely disrupts the country`s energy supply and affects the financing of basic services. stated Mustafa Sanalla. president of the firm.
Before the accident. the North African country produced 1.3 million barrels a day. the highest figure in six years.
However. this is still less than the 1.6 million barrels per day extracted before the military intervention of several Western powers in 2011. which led to the overthrow of Muammar Gaddafi and triggered a civil war that is still ongoing.
Almost 95 percent of the nation`s income comes from the export of crude oil.
