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  • 26-02-20

    Libyan oil exports suspension results in USD2 billion declines

    (MENAFN)

    The National Oil Corporation (NOC) of Libya said on Tuesday that the oil exports suspension due to the oil fields and ports shut down has resulted in over USD2 billion declines so far.

    A statement released by NOC said that "The NOC confirms that there has been a drop in production as a result of the blockade of ports and pipelines".

    Adding that "Forced restriction of production has resulted in a financial loss of over 2 billion dollars since Jan. 24".

    Tribal leaders in the eastern part of Libya have shut down oil ports and fields on the 18th of January as they accused the government of using revenues from oil to support armed groups against the eastern-based army.

    MENAFN2602202000450000ID1099760377

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