DUBAI: The ongoing closure of several oilfields in Libya has cost the North African country the production of 340,000 oil barrels, oil minister Mohamed Aoun told Dubai-based Asharq TV.
Production at the El Feel, Sharara and 108 oilfields was shut on Thursday in a protest by the Al-Zawi tribe against the abduction of former finance minister Faraj Bumatari, according to a tribal leader.
Before the closures, Libya was producing about 1,2 million barrels per day (bpd).
In a statement released early on Saturday, the oil ministry said the closure of the three Libyan oil fields could lead to the declaration of force majeure.
“The loss of confidence in the continuity of Libyan oil supply to the global market will result in a loss of market share for Libyan oil and decreased demand for it,” the ministry said.
It added that the oilfield closures could lead to an “irreversible loss of importers” due to concerns about supply instability.
The Sharara field is one of Libya’s largest production areas, with a capacity of 300,000 bpd. It has been a frequent target of political strife.
Zawi tribe leader Al-Senussi Al-Ahlaiq told Reuters that the closure of El Feel was aimed at pressuring authorities in Tripoli to release Bumatari, who was kidnapped after arriving at Mitiga airport on Tuesday.
Bumatari is a candidate for central bank governor, which “makes him vulnerable to danger and kidnapping,” the tribe said in a statement.
Libya’s oil minister says closure of oilfields cost 340,000 barrels
https://arab.news/whtur
Libya’s oil minister says closure of oilfields cost 340,000 barrels
- Production at the El Feel, Sharara and 108 oilfields was shut on Thursday in a protest by the Al-Zawi tribe
- Before the closures, Libya was producing about 1,2 million barrels per day
Saudi Arabia boosts global 3D printing presence amid 20% annual growth
RIYADH: Saudi Arabia aims to become the world’s fifth-largest 3D printing market by 2030, placing it at the center of global competition, Faisal Adnan, founder and CEO of Namthajah, told Al-Eqtisadiah.
Founded in 2015, Namthajah is a Saudi company specializing in 3D printing, with investments in the sector totaling around SR30 million ($8 million).
Adnan said the industry is experiencing rapid global growth, with the market valued at roughly $20 billion and an annual growth rate of 20 percent, adding that the sector is expected to expand to $100 billion over the next five years.
The CEO emphasized that this trend represents a strategic opportunity to expand Saudi industrial leadership and enhance the global competitiveness of its products, noting that the Ministry of Industry and Mineral Resources is working to build advanced industries with added value based on knowledge and intellectual property.
Adnan added that Fourth Industrial Revolution technologies have become central to global industrial transformation, as highlighted at the current industrial exhibition focused on these advancements.
Modular production lines
Namthajah announced it has received a grant from the Innovative Factories Promotion Initiative to develop a modular production line for manufacturing 3D-printed structures, making it one of the first specialized production lines of this scale globally.
The company aims to expand to 200 advanced manufacturing centers worldwide over the coming years, up from 11 centers currently in Saudi Arabia, with its first international expansion to be announced before year-end.
Strategic partnerships
Namthajah signed a partnership agreement with the Ministry of Industry to serve as an innovation partner with the Advanced Manufacturing Center, providing consulting services and support programs to promote 3D printing adoption across the local industrial sector.
The company is also preparing to announce a new agreement with China’s Enigma, one of the world’s largest 3D printing technology firms, to establish a center of excellence for developing metal part manufacturing applications for the energy sector.
This collaboration is expected to transfer advanced knowledge and develop high-quality industrial solutions, strengthening the Kingdom’s position as a regional hub for advanced tech industries.
Promising sector
These rapid initiatives highlight Saudi Arabia’s ambition to build a sophisticated 3D printing sector capable of enhancing the national economy and creating new industrial opportunities.
With international strategic partnerships and the development of innovative production lines, the Kingdom is paving the way for a new era of leadership in advanced manufacturing technologies regionally and globally.
