Crude oil production from Libya’s largest oilfield, El Sharara, has been suspended after the Hamada valve was closed by an unknown person or persons. More than a quarter of Libya’s total crude output is produced at the Sharara oil field. Crude oil production from Libya’s largest oilfield, El Sharara, has been suspended after the Hamada valve was closed by an unknown person or persons, according to various media reports, citing two oil engineers. The El Sharara oilfield is responsible for the production of some 300,000 barrels of oil per day at full capacity—or more than a quarter of Libya’s total crude oil output. The news—which Libya’s NOC or oil ministry has yet to confirm–comes just hours after Libya’s NOC said that it had closed six oil ports due to bad weather. The affected terminals include Brega, Zueitina, Ras Lanuf, Sidra, Zawiya, and Melita. While the NOC said that the […]