Oil production has fallen by three quarters since early 2020, causing losses of around $ 9.5 billion to public coffers. Faced with the blockade imposed by Khalifa Haftar, the company can only count on the pressure of its main Western supporters.
Libyan state-owned petroleum company (NOC) said shutting down oil operations resulted in a loss of nearly $ 9.5 billion. This situation is due to the blockade of the main oil terminals, put in place by Marshal Khalifa Haftar since the beginning of the year.
In addition to his numerous appeals for appeasement, Mustafa Sanalla, president of the NOC, is consulting with Western leaders to put pressure on the Eastern government, which is primarily responsible for the current situation. A few days ago, he met Italian Foreign Minister Luigi Di Maio in Tripoli to find alternatives regarding the continued shutdown of the country’s oil facilities.
Luigi Di Maio subsequently reaffirmed his full support for the company’s proposed initiative to resume oil production and export.
Source Ecofin Agency