petroleum revenue
oil money

Libya’s National Oil Corporation (NOC) on Tuesday said suspension of oil exports due to closure of oilfields and ports caused losses worth more than 1.3 billion U.S. dollars so far.

“NOC confirms a drop in (crude oil) production to the current level of 183,265 barrels per day, as of Tuesday February 11, 2020, with losses of 1.325 billion dollars,” the state-owned company said in a statement.

Tribal chiefs in eastern Libya recently closed oil ports, accusing the UN-backed government of using oil revenues to support armed groups against the east-based army.

The east-based army of General Khalifa Haftar has been leading a military campaign since early April 2019, attempting to take over Tripoli from the UN-backed Government of National Accord of Fayez al-Sarraj.

NOC had on Monday announced shutting down a local refinery in western Libya because of the closure of the southern Sharara oilfield. Enditem

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

Previous articleBook launched to highlight women in science for sustainable development at UN
Next articleUN Security Council to regularly review sanction measures on Darfur
Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.

LEAVE A REPLY

Please enter your comment!
Please enter your name here