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FinancialNews
01-03-20
NOC: Libya's daily oil production to decrease
(MENAFN) Libya's daily oil production decreased from more than 1.2 million barrels for each day to about 120,000 barrels for each day, according to the state-owned National Oil Corporation (NOC) of Libya's UN-backed government.
As said in a statement by the state-owned National Oil Corporation, "oil and gas productions in Libya have been consistently down as a result of the illegal blockade of ports and pipelines. Today the current levels of production are 120,568 barrels per day".
NOC also said that, "forced restriction of production has resulted in financial losses exceeding 2 billion U.S. dollars since Jan. 17, 2020".
NOC also talked about its deep concern due to potential fuel lack in the next few weeks, as a result of loss of oil production, shutting of a local oil refinery, and lack of sufficient import budgets.
MENAFN0103202000450000ID1099779763
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