Libya's 300,000 b/d Sharara Oil Field Shuts Down Amidst NOC's Production Increase Plans

Aug 3, 2024, 07:51 PM

Libya's Sharara oil field, which produces 300,000 barrels per day, is being shut down. The partial closure was carried out by a group affiliated with the General Command of the Libyan Army in the East, with protestors now inside the field. This development comes shortly after Libya's National Oil Corporation (NOC) announced a plan to increase national oil production to 2 million barrels per day by 2027, having recently reported a production level of 1.5 million barrels per day. The Sharara field shutdown has raised concerns over Libya's ability to meet its oil production targets.