Six days of oil blockade have cost Libya $255 million, NOC says

A view of Sharara oilfield in Libya. [Photo: Social Media]
The closure of Libya’s major oil fields and production facilities has resulted in losses of more than $255 million in the six-day period ending January 23, the country’s National Oil Corporation said on Saturday.

The NOC added that its assessment showed that the illegal shut down of its facilities has resulted in losses of nearly 256.5 million USD until January 23.

It said oil production had fallen from over 1.2 million barrels a day to 320,154 barrels a day.

“Until January 23, 2020, the cumulative production losses in barrels reached 3,907, 318 barrels in six days,” NOC said.

The NOC said fuel was still available in most regions and that it had sufficient storage in Central and Eastern regions.

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