Tag Archives: Libya

Haftar had claimed that oil money was being used to support terrorists.

Production has plummeted by about 850.000 barrels per day (bpd) from little more than one million bpd.

Libya’s National Oil Corporation (NOC) declared force majeure on loadings from Zueitina and Hariga ports on Monday.

Five conditions are needed to solve the crisis to get it over with the terrorist groups.

The NOC had warned of daily losses of $67.4 million and extensive disruption to oil. gas and power operations.

All of Libya’s natural resources and facilities should be returned to the recognized Libyan authorities as soon as possible.

Clashes had already forced the NOC to suspend operations at the two other ports. slashing output by 450.000 bpd.

The European Union said it is going to oppose any attempt to sell or purchase Libyan oil outside the official channels managed by NOC.

The move would cause an output loss of 350.000 barrels per day.

Traders said prices were mostly driven up by uncertainty around oil exports by Libya.