December 14, 2018 / 9:50 AM / 10 months ago

Libya's National Oil against paying "ransom" to reopen El Sharara field

DUBAI, Dec 14 (Reuters) - Libya’s state-owned National Oil Corp said it was against paying a ransom to an armed group that halted crude production at El Sharara, the North African country’s largest oilfield.

“Any attempt to pay a ransom to the armed militia which shut down El Sharara would set a dangerous precedent that would threaten the recovery of the Libyan economy,” NOC Chairman Mustafa Sanalla said in a statement on the company’s website.

NOC on Monday declared force majeure on exports from the 315,000-barrels-per-day oilfield located in the south of the country. The field was seized at the weekend by a local militia group.

Reporting by Maher Chmaytelli; Editing by Dale Hudson

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