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FinancialNews


  • 17-03-20

    Libya's daily oil production to drop

    (MENAFN) As said by the state-owned National Oil Corporation (NOC), over the shutting of oil ports and fields by tribal leaders in eastern Libya in demonstration against the UN-backed government, Libya's daily oil production has decreased from over 1.2 million barrels to less than 100,000 barrels.


    According to the NOC, "oil and gas production in Libya have been consistently down. The current levels of production are 91,108 barrels a day, as of Sunday March 15, 2020. Forced restriction of production has resulted in financial losses exceeding 3,276,183,429 USD since January 17, 2020".


    NOC also informed that, "we call on those responsible for the closure to immediately lift the imposed blockade and spare oil sector workers and citizens from more suffering. We call on the rest of the state's bodies to maintain the remaining financial reserves and reduce their expenses as well".

    MENAFN1703202000450000ID1099866106

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