Libya’s oil exports down by 92 percent: NOC

By Sami Zaptia.

(Logo: NOC).

London, 28 April 2020:

Libya’s state National Oil Corporation (NOC) yesterday reported that oil exports were down by 92.3 percent since the country’s oil blockade. The blockade imposed since January is attributed to Khalifa Hafter forces and allies.

The NOC said that its revenues amounted to US$1.093 billion in March 2020, after collection of revenues from sales made in January.

It said that the drop in exports have caused huge losses to the national economy. It added that oil products also decreased to zero in March 2020 as a result of refineries being shut down due to the illegal blockade. Natural gas production had also decreased by 200 million cubic feet per day after the valve shutdown in the region of Sidi Sayeh.

NOC Chairman Mustafa Sanalla said that “The first quarter of 2020 was a huge decrease in revenues for Libya, as a direct result of the illegal blockade of numerous oil and gas facilities. This is only part of the picture, as the corrosion in pipes caused by still oil and salt water is resulting in physical damage that will cost millions to fix when the crisis is over’’.

“Libyan people across the whole country are the ones who will feel the cost of this illegal blockade. The low revenue will simply delay further any government investment in public services, the national economy, and the foundations of future prosperity for Libya”, he concluded.

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