Libya’s government energy company has announced that it cannot fulfill its contracts because protests have stopped oil production at the Al-Sharara oilfield.
Force majeure is a law that lets people off the hook for their responsibilities in a contract if something really bad happens that they couldn’t control, like a war or a big natural disaster.
The field stopped making oil a few days ago because of protests in the area, according to the National Oil Corporation. It used to make up to 300,000 barrels a day.
The shutdown has stopped the flow of crude oil from the field to Zawiya terminal, the oil company reported.
The NOC did not give details about what the protesters want, but they said they are talking to try to start making things again.
Libya has had trouble producing oil because of protests since the revolt against its former leader Muammar Gaddafi in 2011.
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Libya declares oilfield force majeure in the midst of demonstrations
