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FinancialNews
04-04-20
Shutdown of oil exports in Libya's eastern regions causes losses
(MENAFN) The closure of oil exports in Libya's eastern regions has made losses of almost USD3.9 billion, according to Libya's National Oil Corporation (NOC).
As said by the state oil company, "the forced and illegal restriction of production has resulted in financial losses exceeding 3,893,213,466 USD since January 17, 2020. This means the Libyan economy and financial reserves are getting weaker every day due to the blockade. Total oil production inside Libya is down to 92,731 barrels a day, as of April 1, 2020".
Libya's oil production was projected at 1.3 million barrels per day before the closure.
MENAFN0404202000450000ID1099966887
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