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FinancialNews


  • 10-03-20

    Libya's daily oil production drops to less than 115,000 barrels per day

    (MENAFN) Libya's daily oil production has decreased sharply from more than 1.2 million barrels for each day to below 115,000 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 National Oil Corporation, "oil and gas production in Libya has been consistently down as a result of the illegal blockade of oil facilities".


    The statement also said that, "the current level of production is 114,331 bpd, as of March 8, 2020. Forced restriction of production has resulted in financial losses exceeding 2,932,005,883 U.S. dollars since Jan. 17, 2020".


    The NOC is worried about probable lack of fuel in the next days because of forced decrease of production, local refinery shutdown, and lack of funding to import sufficient fuel for local usage.

    MENAFN1003202000450000ID1099827298

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