NOC reports Libya oil blockade losses now stand at nearly $9.5bn

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In Libya, oil production has fallen by three quarters since early 2020, causing losses of around $ 9.5 billion for public funds. Faced with the blockade imposed by Khalifa Haftar, the company can only count on the pressure of its main Western supporters.

Libyan state-owned petroleum company (NOC) said shutting down oil operations resulted in a loss of nearly $ 9.5 billion. This situation is due to the blockage of the main oil terminals, set up by Marshal Khalifa Haftar since the beginning of the year.

Besides his numerous appeals for appeasement, Mustafa Sanalla (photo), president of the NOC, is consulting with Western leaders to put pressure on the Eastern government, which is primarily responsible for the current situation. A few days ago, he met with Italian Foreign Minister Luigi Di Maio in Tripoli to find alternatives concerning the continued shutdown of the country’s oil facilities.

Mr. Di Maio subsequently reaffirmed his full support for the initiative proposed by the company to resume oil production and export.


Source: Agence Ecofin

The post NOC reports Libya oil blockade losses now stand at nearly $9.5bn appeared first on Energy News | Oil and Gas News.

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