Libya’s Oil Losses Reach $4.5 Billion


Libya’s National Oil Corporation (NOC) stated that the cumulative losses in oil production have amounted to 4.5 billion US Dollars due to the closure of ports and oil fields.

The vast majority of NOC facilities have been closed since January 17, 2020.

The blockade comes amid continued fighting between Field Marshal Khalifa Haftar’s Libyan National Army, loyal to the eastern-based Interim Government, and forces loyal to the Government of National Accord in Tripoli.

In a statement, the NOC called for the lifting of the blockade imposed on oil facilities and the resumption of production.

Regarding the availability of fuel in different cities across Libya, the statement explained that the process of transporting fuel to southern Libya was difficult due to the ongoing conflict.

The statement also added that that fuel storage levels in Misrata city were higher than in other cities.