Friday, June 27, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Bashagha Blames Dbaiba for Halting Oil Production

July 4, 2022
Share on FacebookShare on Twitter

Libya’s Prime Minister-designate, Fathi Bashagha blamed incumbent PM, Abdel-Hamid Dbaiba for halting oil production.

Bashagha said, “the outgoing Prime Minister and those who are acting in their own self-interest are why the National Oil Corporation (NOC) decided to halt oil output.”

“I stand firmly with the NOC and call for the funding of my approved budget without delay, so we can move Libya forward,” he tweeted on Friday.

On Thursday, the NOC declared a state of force majeure at the Es Sidr, Ras Lanuf ports, and the El Feel Oilfield.

NOC’s Chairman, Mustafa Sanalla said that the decision comes after the 72 hour-deadline had ended. As well as the loss of more than LYD 16 billion due to blockaded production, and shipping operations at local oil ports. He added that the force majeure is still in force at the Brega and Zueitina ports.

“As my Roadmap To Recovery initiative makes clear, stabilization of oil production is critical for Libyans to have the quality of life they deserve and need. It will also be critical in planning the elections, since financial stability is an important part of the ability to hold elections,” Bashagha added.

He noted that his proposed budget, which was approved by the Parliament provided the funding necessary to stabilize the NOC and oil production. “As well as put in place the checks and balances to ensure the funds are spent transparently, thus reducing corruption,” he explained.

The NOC currently has active force majeure measures at the Marsa El-Brega and Zueitina ports. This includes the 70,000 bpd-producing El Feel and Libya’s largest field, 300,000 bpd El Sharara — although the latter is understood to be operating at minimal capacity, rather than fully shut down.

The closures are a result of protests that have demanded the transfer of power from Dbaiba Bashagha, the fair and transparent distribution of oil revenues, and the dismissal of Sanalla.

  • West Urges Libya to Preserve Independence of NOC
  • Libya Loses $80 Million due to Oil Fields Shutdown
  • Sirte Commercial Port Project Contract with Royal Haskoning Cancelled
  • Wheat Shipments Arrive in Libya
  • Libya’s NOC Reopens All Oil Fields
Tags: Abdulhamid DbaibaFathi BashaghalibyaLibyan GovernmentOil Production
Next Post

20 People Found Dead Along Chad-Libya Border

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Libyan Security Forces Arrest 77 Drug Dealers

Greece Accuses Libya & Turkey of Breaching International Law

Libya Sends Troops to Italy for Special Operations Training

UK Denies Embassy Convoy Was Targeted in Armed Attack in Libya

Libya Becomes Turkey’s Third Largest Trade Partner in Africa

Libya’s NOC Signs Offshore Exploration Deal with Turkey’s TPAO

EDITOR PICKS

Libya Signs 98 Cooperation Deals with Italian Companies in Benghazi

Libya & Russia Launch Economic Forum to Expand Strategic Cooperation

UK Denies Embassy Convoy Was Targeted in Armed Attack in Libya

Libyan Security Forces Arrest 77 Drug Dealers

European Council Warns Against Unilateral Maritime Agreements in Libya

Greece Accuses Libya & Turkey of Breaching International Law

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR