Background

The Libyan Oil Ministry said late on Friday that the closure of three Libyan oil fields could lead to a force majeure declaration the day after the fields were closed in protest of the kidnapping of the former finance minister.

In a statement, the ministry called on all parties to prevent their differences from affecting energy production and exports.

The ministry added that field closures could severely impact Libya’s vital oil sector, including marketing and demand, and undermine efforts to stabilize oil production.

Reasons for Closure

A Zwai tribal leader said production at the El Fil, Sharara and 108 oil fields was halted on Thursday to protest the kidnapping of Faraj Bumtari, finance minister in the previous government.

The Sharara field is one of the largest oil producing fields in Libya with a capacity of 300,000 barrels per day. He has been a constant target of local protesters for various political reasons and claims.

Al Senussi Al Khaliq, leader of the Al Zwai tribe, told Reuters that the closure of the El Fil field is intended to put pressure on Tripoli authorities to release Bumtari, who was abducted after arriving at Mitiga airport on Tuesday.

The tribe said in a written statement that Bumtari is a candidate for the position of Central Bank Governor, adding that this leaves him vulnerable to danger and “kidnapping.”