Suspension of Libya's oil exports causes over $1 billion lossChristian Fernsby ▼ | February 8, 2020
The state owned Libyan National Oil Corporation (NOC) said that the suspension of oil exports due to closure of oil fields and ports has caused a loss of more than 1 billion U.S. dollars so far.
Energy in Libya Libyan National Oil Corporation
Topics: Libya oil export loss
"National Oil Corporation (NOC) renews its call for all blockades to be lifted to allow the corporation to resume production immediately, for the sake of Libya and its people," the NOC said.
Tribal leaders in eastern Libya recently closed oil ports, accusing the UN-backed government of using oil revenues to support armed groups against the eastern-based army.
The NOC called for the lift twice in January as the oil exports loss announced had mounted from nearly 256.6 million dollars as of Jan. 23 to 562.3 million dollars as of Jan. 28.
The eastern-based army had been leading a military campaign since early April 2019, attempting to take over Tripoli from the UN-backed government. ■