Libya has restarted production at its largest field, Sharara, as peace talks began between eastern and western forces. The national Oil Corporation announced it had lifted the force majeure on Sharara after reaching an agreement with the Petroleum Facilities Guard to “end the entire obstacles that face Al Sharara Field in a way that guarantees there will be no security breaches and in a way that enables the National Oil Corporation to lift the force majeure status and resume production in Al Sharara Oil Field.” Libya is currently producing about 300,000 bpd and Sharara could add up to 200,000 bpd more after the lifting of an oil port blockade by the eastern-affiliated Libyan National Army. From below 100,000 bpd, oil output reached close to 300,000 bpd in a matter of two weeks. And plans are to continue ramping up: the governor of Libya’s central bank has called on the […]