NOC calls for oil blockade to be ended, updates production and revenue losses
By Sami Zaptia.
London, 26 January 2020:
Libya’s state National Oil Corporation (NOC) called yesterday for the blockade on Libya’s oil production and export to be ended immediately in order to restore the country’s vital supplies and revenues.
It revealed that the illegal shutdown of its facilities has resulted in losses of US$ 256 million up to 23 January.
It further confirmed that production has fallen from over 1.2 million barrels per day (mbpd) to 320,000 b/d for the same period. This has led to cumulative production losses of 3.9 million bpd over the six days since it declared force majeure.
Locally, the NOC assured Libyan consumers that despite the blockade, fuel is still available in most Libya.
It will be recalled that, ostensibly, tribal supporters of Khalifa Hafter in the eastern Libyan oil crescent blockaded oil ports preventing Libya from exporting its production on 18 January – the eve of the Berlin conference on Libya. Other fields in other areas were also shut down. The internationally recognized government in Tripoli blames the blockade directly on Khalifa Hafter.