Libya’s largest oilfields could see a resumption of production after what the Libyan National Oil Company (NOC) called the “illicit” closure of crude pumping valves late last week, with engineers telling Reuters on Monday that work was underway to restart operations. The NOC confirmed on 6 March that production was suspended at the Sharara and El Feel oilfields, taking 330,000 barrels per day offline after a pipeline valve was closed. “We have been informed that a group of suspicious gangs led by Mohammed Al-Bashir Al-Garj shut down the pumping valves of crude thus making it impossible to fulfill our commitments regarding refined products in the oil market. As such, we are obliged to declare the state of force majeure in line with standard practice in the oil industry,” the NOC stated. As two rival governments once again take shape in Libya, setting the stage for renewed conflict, the country’s […]