- The shutdown is a direct consequence of armed groups
- Continued disruptions to crude flow would negatively impact state oil revenue
LONDON: Libya’s National Oil Corporation said on Saturday it has shut down one of the refining units at the Zawiya refinery due to the continued forced closure of the Sharara crude pipeline valve by armed groups belonging to the Petroleum Facilities Guard.
The corporation warned that ongoing disruptions to the flow of crude could directly impact state oil revenue, increase fuel import costs and harm the national economy.
The closure has reduced cumulative production at the Sharara field by 942,376 barrels over five days through Friday, causing direct financial losses of about $95 million, the NOC said.
Lost output on Friday alone totalled 222,014 barrels, according to NOC.
