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Libya’s National Oil Company Resumes Production

Refining towers and fuel storage tanks are seen at the Zawiya oil refinery near Tripoli, Libya, on Monday, Aug. 29, 2011. Crude exports from Libya are likely to remain limited regardless of how quickly the country’s civil conflict ends, curbing declines in the price of Brent oil. Photographer: Shawn Baldwin/Bloomberg via Getty Images

Libya is set to restart the last of its major oil fields following a ceasefire in its civil war.

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The state energy firm lifted force majeure on exports from El Feel on Monday.

The OPEC member has mostly been offline since January.

Libya has been in chaos since a 2011 uprising that toppled and killed longtime dictator Moamer Kadhafi.

Libya, which sits atop Africa’s largest proven crude oil reserves, has been torn between the rival powers of the UN-recognised Government of National Accord (GNA) in Tripoli and strongman Khalifa Haftar who backs a rival administration in the east.

The two warring factions Friday signed a “permanent ceasefire” after five days of talks at the United Nations in Geneva.

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Written by PH

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