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FinancialNews
27-01-20
Libya: crude oil production drops from over 1.2 million barrels
(MENAFN) Libya's daily crude oil making has decreased from over 1.2 million barrels to below 300,000 because of closure of oil fields and ports, as said by Libya's state-owned National Oil Corporation (NOC).
The country's state-owned National Oil Corporation confirms that, "oil production continues to fall as a result of illegal blockades. Production fell to 284,153 barrels per day, and irreversible losses to the Libyan economy amounted to 318 million U.S. dollars, as of January 24, 2020".
NOC said that, "NOC renews its call for blockades to be lifted to allow the corporation to resume production immediately, to insure continuing supply of fuel products to all regions and to restore vital revenues to the Libyan economy".
Tribal leaders in eastern Libya closed oil ports a few days ago, accusing the UN-backed government of using oil income to help armed groups against the eastern-based army.
MENAFN2701202000450000ID1099607181
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