Libyan oil production nearing collapse – NOC

epaselect epa07010576 Libyan firefighters and security personnel stand in front of the National Oil Corporation (NOC) after gunmen attack on the building, in Tripoli, Libya, 10 September 2018. According to reports, at least four people were killed, including two gunmen, after unknown militant stormed the headquarters of the of the National Oil Corporation (NOC) in Tripoli. Libyan factions on 05 September signed a ceasefire agreement aimed at ending 10 days of fighting that has left at least 60 people dead. EPA-EFE/STR

Reading Time: < 1 minute

There is a risk in Libya that within a few days oil production will plummet to the lowest level since the fall of Muammar Ghaddafi in 2011. The warning came from the head of the Libya National Oil Company (NOC), Mustafa Sanalla, in an interview with the Financial Times.

Due to a blockade on the terminals in eastern Libya as ordered by Khalifa Haftar, oil production may drop to 72,000 barrels per day, he said. Sanalla added that the situation is getting worse every day and that the blockades are ”illegal” and should be lifted.

“Every day the situation is getting worse,” Mr Sanalla said from his offices in Tripoli, where the NOC has had to rehouse staff in hotels because of fighting on the edge of the capital. “These blockades are illegal, criminal actions. It needs to be resolved quickly as the longer we stay offline the more difficult it is to restore production at older fields.”

Gen Haftar, whose forces control much of the east and south of the country, including the majority of its key oil terminals, shut down crude exports last week in an effort to maximise pressure on his rivals in the UN-backed Government of National Accord in Tripoli. Gen Haftar launched an offensive to take Tripoli in April last year but that advance had stalled on the outskirts of the city.

Via ANSA / Financial Times 

%d bloggers like this: