CAIRO (AP) — Libya’s national oil company said Sunday that an armed group has shut down two crucial oil fields, causing the country’s daily production of oil to drop by 330,000 ba…
CAIRO — Libya’s national oil company said Sunday that an armed group has shut down two crucial oil fields, causing the country’s daily production of oil to drop by 330,000 barrels.
Company head Mustafa Sanallah announced a force majeure, a legal maneuver that lets a company get out of its contracts because of extraordinary circumstances.Sanallah said the NOC has urged public prosecutors “to take deterrent measures” and reveal “the planners, executors and the beneficiaries” of the shutdown. The same militia disrupted oil production at both fields in 2014 and 2016, he added.