Port Blockage Costs Libya $1bn in Lost Oil Revenues

By John Lee.

The National Oil Corporation (NOC) has announced a drop in production as a result of the blockade of ports and pipelines to the current level of 135,745 b/d, as of Monday February 17, 2020, with losses exceeding 1 billion USD at 1,616,886,132 USD.

The NOC renews its call for all blockades to be lifted to allow the corporation to resume production immediately, for the sake of Libya and its people.

NOC continues to supply hydrocarbons to the Central and Eastern regions in sufficient quantities to meet the transport and domestic needs of citizens. A gasoline tanker is expected to arrive at Benghazi port tomorrow. The city of Tobruk and the rest of the Eastern region is being supplied directly from Benghazi.

Storage facilities in Tripoli and some surrounding areas, as well as in Southern regions, are still facing supply shortages due to the security situation.

As part of its commitment to transparency, NOC will continue to publish data on fuel stocks in the Central, Eastern and Southern regions as well as details of shipments, to inform citizens of fuel availability in their area.

(Source: National Oil Corporation)

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