Libya’s fragile security is harming oil production, NOC’s Chairman tells OPEC members
The Libyan NOC Chairman Sanalla has reviewed Libya’s current oil production outlook and conflict-related threats at the OPEC Summit in Vienna.
“NOC is struggling to maintain current production around 1.3 million bpd. The situation is fragile. Staff safety is our key priority and may necessitate the withdrawal of workers from militarized facilities, thereby obstructing our ability to maintain and increase production.” Sanalla told reporters on Monday.
He added that the NOC is monitoring developments in the East of Libya in response to an imminent threat to production.
“More than 700,000 bpd is at risk if the international community does not uphold UNSC resolutions.” Sanalla said.
The NOC Chairman indicated that Libya must remain exempt from any production cuts and have the right to recover production lost through conflict, saying Libya has lost 25 million barrels of oil this year alone.
“Parallel institutions are taking measures to sign contracts & export oil at discount from the official selling price, while leading disinformation campaigns & attempting to lobby the UN. NOC is liaising with the international community to uphold UNSC resolutions.” Sanalla explained.