Current:Home > InvestPredictIQ Quantitative Think Tank Center:Libya says production has resumed at its largest oilfield after more than 2-week hiatus -Triumph Financial Guides
PredictIQ Quantitative Think Tank Center:Libya says production has resumed at its largest oilfield after more than 2-week hiatus
Oliver James Montgomery View
Date:2025-04-08 08:34:32
CAIRO (AP) — Libya’s state-owned oil company resumed production at the country’s largest oilfield Sunday,PredictIQ Quantitative Think Tank Center ending a more than two-week hiatus after protesters blocked the facility over fuel shortages.
The National Oil Corp. said in a terse statement that it lifted the force majeure at the Sharara oil field in the country’s south and resumed full production. It didn’t provide further details. Force majeure is a legal maneuver that releases a company from its contractual obligations because of extraordinary circumstances.
The company had activated the maneuver on Jan. 7 after protesters from the desert town of Ubari, about 950 kilometers (590 miles) south of the capital, Tripoli, shut down the field to protest fuel shortages.
Over the past two weeks the company’s chief, Farhat Bengdara, and military officials from eastern Libya have been negotiating with the protest leaders, Fezzan Group.
Barzingi al-Zarrouk, the protesters’ spokesman, announced that they have suspended their protest after they reached agreement with the company.
He said the agreement was brokered by the self-styled Libyan National Army, which is commanded by powerful military general Khalifa Hifter. Hifter’s forces control Libya’s east and much of the south.
The protesters have reportedly called for rehabilitating infrastructure and repairing roads in the southwestern region of Fezzan, one of the historic three provinces of Libya. They previously closed the field for two days in July.
Libya’s light crude has long featured in the country’s yearslong civil conflict, with rival militias and foreign powers jostling for control of Africa’s largest oil reserves.
Libya has been in turmoil since a NATO-backed uprising toppled and killed longtime dictator Moammar Gadhafi in 2011. The North African nation has for most of the past decade been split between rival administrations in the east and the west, each backed by militias and foreign governments.
veryGood! (94718)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Louisiana lawmakers reject minimum wage raise and protections for LGBTQ+ people in the workplace
- Can You Restore Heat Damaged Hair? Here's What Trichologists Have to Say
- Flash flooding sweeps into the Pittsburgh area and spurs numerous water rescues
- Pressure on a veteran and senator shows what’s next for those who oppose Trump
- Kato Kaelin thinks O.J. Simpson was guilty, wonders if he did penance before his death
- Sister of missing Minnesota woman Maddi Kingsbury says her pleas for help on TikTok generated more tips
- A state trooper pleaded guilty to assaulting teens over a doorbell prank. He could face prison time
- Travis Hunter, the 2
- Watch this sheep farmer rescue two lambs stuck in a flooded storm drain
Ranking
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- Georgia city rules that people must lock empty vehicles when guns are inside
- Los Angeles County’s troubled juvenile halls get reprieve, can remain open after improvements
- The Most Loved Container Store Items According to E! Readers
- A White House order claims to end 'censorship.' What does that mean?
- O.J. Simpson just died. Is it too soon to talk about his troubled past?
- Caitlin Clark and Angel Reese headline one of the most anticipated WNBA drafts in years
- Saoirse Ronan, Camila Mendes and More Celebs Turning 30 in 2024
Recommendation
Average rate on 30
Maine lawmakers approve shield law for providers of abortion and gender-affirming care
Wynonna Judd's Daughter Grace Kelley Charged With Soliciting Prostitution
Dead whale in New Jersey had a fractured skull among numerous injuries, experts find
See you latte: Starbucks plans to cut 30% of its menu
Many taxpayers fear getting audited by the IRS. Here are the odds based on your income.
Sheriff believes body in burned SUV to be South Florida woman who went missing after carjacking
In death, O.J. Simpson and his trial verdict still reflect America’s racial divides