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.