Oil Revenue Losses approach $2bn

By John Lee.

This official notice summarises the situation across Libya for the oil and gas sector. Please beware of disinformation regarding the current fuel situation published by non-NOC sources. Please treat this report as the only source of accurate and updated information.

Libya's National Oil Corporation (NOC) has said the production, transportation and supply of oil and gas continues to be severely reduced due to the ongoing security situation across Libya.

National Oil Corporation (NOC) confirms a drop in production as a result of the blockade of ports and pipelines. The current level of production is 122,424 b/d, as of Thursday February 20, 2020. Forced restriction of production has resulted in financial losses approaching 1 billion USD at 1,857,677,138 USD.

The gasoline tanker Anwar Libya was given permission to re-enter the port of Tripoli yesterday, following its emergency departure on Tuesday February 18, 2020, due to mortar strikes on the port. NOC renews its call for all illegal and irresponsible blockades to be lifted to allow the Corporation to resume production immediately, for the sake of Libya's economy and people's livelihoods.

NOC continues to supply hydrocarbons to the Central and Eastern regions in sufficient quantities to meet the transport and domestic needs of citizens. An LPG tanker is preparing to discharge at Benghazi port, while another diesel tanker arrived at the port this morning and will start discharging later. The city of Tobruk and the rest of the Eastern region is being supplied directly from Benghazi.

NOC strongly condemns the sale of fuel at more than ten times the regular price by distribution companies in the Southern regions. NOC calls on these companies to respect the agreed price.

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: NOC)

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