Libya Restarts Sharara Oilfield

Libya has restarted the El Sharara oilfield after protesters called off the four-month strike that had disrupted operations.

The government also took over the Ras Lanuf and Es Sider oil ports last week, ending an almost year-long occupation that reduced Libya’s output to less than a quarter of the 1.4-million barrels a day it used to pump before protests started last summer.

"Libya will start to produce more and we can expect half a million more (barrels a day of crude) to come out of the state," Ayers Alliance Securities chief investment officer Jonathan Barratt said in Sydney.

(Source: Reuters)

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