LibyaPolitics

NOC: Losses of stopped oil exports from Libya reach $9.5 billion

The National Oil Corporation said in a statement on Monday that the losses of stopping production and exports rose to 9.5 billion by the sixth of September.

The NOC stated in its statement that the closure, which has been implemented by protesters in the Oil Crescent since January of this year, has reached 234 days.

The Chairman of the National Oil Corporation, Mustafa Sanallah, had demanded the protesters throughout the last period of the necessity of restoring production operations so that the corporation could fulfill its obligations.

It is noteworthy that the revenues of the oil sector constitute more than 95% of the volume of public treasury financing in Libya, which portends significant economic consequences for the closure process.

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