Tag Archives | Blockade

Libya loses $4bn from National Economy

By John Lee. The forced closure of many NOC facilities has resulted in the country losing revenue of over $4 billion. NOC chairman Eng. Mustafa Sanalla commented on the loss saying: "Libya is today $4 billion poorer than it would have been without the blockade. That is public funds that could have been invested into […]

Libyan Oil Production Falls Below 90k Barrels per Day

Statement from the National Oil Corporation (NOC): The NOC has recently supplied medical equipment to help local authorities across Libya deal with the coronavirus pandemic, click here for more details. The forced and illegal restriction of oil and gas production has resulted in financial losses exceeding 3,957,326,455 USD since January 17, 2020. This means the […]

Libyan Oil Revenues Collapse

The National Oil Corporation (NOC) has reported February 2020 revenues of approximately USD 555 million ($555,533,750.97), a decrease of around $1.21 billion USD (68.6%) on January 2020 revenues. The February figure is also a decrease of around $708 million (56%) compared with February last year. NOC's revenues come from sales of natural gas, crude oil […]

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 […]