I posted yesterday on the output halt at Libya's largest oilfield:
ING have commented on it today:
- Having only started to bring production back online at the Sharara oilfield in Libya over the weekend, production has reportedly already been shut down for the second time within 24 hours, with an armed group forcing the field to bring production to a stop once again.
- The Sharara oil field is Libya's largest, with a capacity of 300Mbbls/d. The National Oil Corporation had hoped that output at the field would have returned to normal within 90 days. However, latest developments clearly highlight that there will be no certainty over Libyan output in the coming months, which is likely to remain volatile - something that the market has got used to over the years.
Yep, it only came back on line Sunday!
If you missed the earlier headline to this post you missed my 'typo of the year' (so far)!