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Bloomberg: Libya's biggest oil field resumes production

Sep. 06, 2017 12:41 PM ETTotalEnergies SE (TTE) StockTTE, REPYY, OMVJF, REPYF, EQNRBy: Carl Surran, SA News Editor
  • Libya’s Sharara oil field - the country's largest - has resumed production following a halt of more than two weeks, after authorities reached a final agreement with a militia group that had closed access to the nearest refinery, Bloomberg reports.
  • Two other fields - El-Feel and Hamada - resumed production last week; Libya's crude output fell 35% after the forced closing of the three fields.
  • Sharara, with a production capacity of 330K bbl/day, is a joint venture between Libya's state-owned oil company, Total (NYSE:TOT), Statoil (STO), Repsol (OTCQX:REPYF, OTCQX:REPYY) and OMV (OTCPK:OMVJF).

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