Libya’s oil blockade losses at US$ 1.4 bn: NOC

By Sami Zaptia.

(Logo: NOC).

London, 13 February 2020:

In its latest information bulletin on the oil blockade of ports and pipelines released yesterday, Libya’s state National Oil Corporation (NOC) confirmed a drop in production to the current level of 191,475 b/d, as of Wednesday February 12, 2020, with losses at US$ 1,380,468,480.

The NOC renewed its call for all blockades to be lifted to allow it ‘‘to resume production immediately, for the sake of Libya and its people’’.

It reported that it continues to supply hydrocarbons to the Central and Eastern regions in sufficient quantities to meet the transport and domestic needs of citizens. A gasoline tanker was unloading yesterday at Benghazi port. The city of Tobruk and the rest of the Eastern region is being supplied directly from Benghazi.

Storage facilities in Tripoli and some surrounding areas, as well as in Southern regions, are still facing supply shortages due to the security situation, it added.

The NOC said that it was very concerned about supply to the power stations in the area (North Benghazi and Zueitina). Crude oil storage at Zueitina port is full, resulting in the shutdown of the Faregh oil field resulting in the loss or 100 million cubic feet of gas per day, it explained.

The NOC warned about disinformation regarding the current fuel situation, published by non-NOC sources.

The NOC also welcomed the adoption by the UN Security Council of Resolution 2509 authorizing measures against the illicit export of crude oil and other petroleum products from Libya, continuing to allow member states to inspect designated vessels on the high seas.

It also condemned attempts by the eastern based ‘‘Libyan Government’’ to take control of its General Administration of Inspection and Measurement. It stressed that this body plays a crucial role in the oil export process and answers to the NOC in Tripoli. Attempting to interfere with its work is illegal under Libyan law. Successive resolutions by the UN Security Council have condemned attempts by parallel institutions to export Libyan oil and warned of UN sanctions against those individuals responsible, it concluded.

It will be recalled that the NOC had declared a state of force majeure at all its major oilfields and ports on 18 January blaming the move on ‘‘blockades on oil exports’’ imposed by the Khalifa Hafter-led Libyan National Army (LNA).


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