Libya armed group shuts oil pipeline

An armed group in Libya shut down the crude oil pipeline at Valve No. 7, leading to a halt in oil flow from the Sharara field, one of the largest fields in the country, which contributes approximately 300,000 barrels per day. The National Oil Corporation confirmed that this shutdown threatens to halt the field's production entirely, which will impact the country's revenues and increase the cost of importing fuel, especially with rising global oil prices. It called on the relevant authorities to secure the oil sites and reopen the pipeline immediately, warning that if the shutdown continues, the crisis could escalate into a state of force majeure. This incident occurs amid a series of security disruptions that have engulfed the Libyan oil sector over recent months.

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