Tag Archives | Blockade

Libya's Oil Blockade Losses exceed $3.5bn

By John Lee. Libya's National Oil Corporation (NOC) has said the financial losses resulting from the ongoing blockade of its oil facilities now exceed $3.5 billion, as oil production falls to just 95,837 barrels per day (bpd). In a statement late on Monday, the company said: "The NOC continues to work hard to serve all […]

Austerity Measures due to Blockade of NOC Facilities

By John Lee. The National Oil Corporation (NOC) has said that it has implemented austerity measures due to what it described as the "continued illegal shut down of facilities". The corporation said it is yet to receive its 2020 budget  after more than 70 days of the new year which will force it and its […]

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 […]

EU "Deeply Concerned" at Blockade of Libyan Oil Facilities

The Delegation of the European Union, in agreement with EU Member States embassies accredited to Libya, is deeply concerned that the National Oil Corporation (NOC) has been compelled to suspend operations at critical oil facilities across Libya and calls for the immediate resumption of NOC operations. The distribution of Libya's wealth and resources, including oil […]