Former Libyan Finance Minister, Faraj Boumtari hailing from the Zway tribe, was released after days of detention in Tripoli, according to Senussi Al-Haliq, the Head of the Supreme Council of the Zway Tribes. The event ignited a crisis leading to the closure of oil fields in Libya.
The release of Boumtari was reportedly requested by the Attorney General, as conveyed by media sources. Al-Haliq previously indicated that oil production had been halted at the El-Feel, Sharara, and 108 fields, as a protest against Boumtari’s abduction during his visit to Tripoli.
The tribe stated that Boumtari, being a potential candidate for the Governor of the Central Bank, was at risk and susceptible to “kidnapping.” The Council of Elders and Notables of the southeast in Libya had announced the closure of oil fields and sources of the man-made river in Tazirbu and Al-Sarir until Boumtari’s release. They held the government responsible for his safety.
Boumtari was kidnapped upon his arrival at Mitiga International Airport last Tuesday. His tribe accuses Sadiq Al-Kabir, the Governor of the Central Bank of Libya (CBL), of masterminding this operation to prevent Boumtari from competing for the position.
In response to the situation, Oil Minister, Mohamed Aoun stated on Saturday that the continuous closure of several oil fields has resulted in a loss of 340,000 barrels for the country. Prior to the closure, Libya was producing about 1.2 million barrels daily.
The Ministry of Oil announced in an early Saturday statement that the closure of the oil fields could lead to a declaration of a state of force majeure. The ministry added that “the loss of confidence in the permanence of the supply of Libyan oil to the global market could result in Libyan oil remaining unsold, or demand declining.”
The statement further noted that the closure of the oil fields could lead to the “permanent loss of Libyan oil importers” due to fears of unstable supplies. The Sharara oil field, one of the largest oil-producing fields in Libya with a capacity of 300,000 barrels per day, has often been a target of protesters amidst political disputes.
