After a relatively stable spell, Libya’s oil production has see-sawed again because of a standoff at eastern export terminals and the abduction of two workers at the giant Sharara oilfield. Military clashes followed by a political power struggle forced the National Oil Corporation (NOC) to halt exports at Ras Lanuf, Es Sider, Zueitina and Hariga terminals in late June and early July, threatening to keep offline as much as 850,000 barrels per day (bpd). The ports were reopened on July 11 and eastern fields gradually resumed operations. A lengthy shutdown at El Feel oilfield in the southwest also ended, but two days later output at the nearby 300,000 bpd Sharara was slashed after two staff were kidnapped. National production had been hovering around 1 million bpd for more than […]