Libya’s Oilfields Face Shutdown Amid Rising Tensions

Eastern Libya's major oilfields are set to close, ceasing production and exports, amidst tensions over the leadership of the country's central bank. The eastern administration announced the halt, while the internationally recognized Tripoli government has not confirmed the closure. Eastern factions are in control of most oil resources.

Eastern Libya's crucial oilfields are poised for closure, halting production and exports, the region's administration declared on Monday. This decision follows heightened tensions over control of the central bank. There's no confirmation from the internationally recognized Tripoli government or the National Oil Corporation (NOC).

Waha Oil Company, a subsidiary of NOC, indicated a planned reduction in output and cautioned of a potential complete production halt due to unspecified protests and pressures. Similarly, Sirte Oil Company announced cuts, urging authorities to act to sustain production levels.

Libya's oil landscape, majorly dominated by eastern fields under Khalifa Haftar's Libyan National Army (LNA), faces instability. If halted, southwestern El Feel would be the sole active oilfield with a capacity of 130,000 bpd. The Benghazi government has not provided timelines for the shutdown.

(With inputs from agencies.)