Libya Oil Valve Closure Threatens Supply

The Libyan National Oil Corporation has reported that the closure of a main valve on a pipeline transporting oil from the Hamada and Tahara fields has led to a decrease in their production. This poses a threat to Libya's oil revenues, which the country heavily relies on, with Libya's oil production reaching approximately 1.4 million barrels per day and oil revenues accounting for about 90% of its total income. The corporation indicated that continued closure could result in additional production losses, amid recurring security disruptions in the oil sector since 2011. It condemned an attempt by unauthorized individuals to access the oil reception station and close the valve without prior coordination, calling for immediate intervention to reopen it and emphasizing the urgent need to protect oil facilities from interference that hampers operations.

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