The state-owned National Oil Corporation (NOC) of Libya's UN-backed government on Monday said the country's daily oil production has dropped sharply from over 1.2 million barrels per day (bpd) to less than 115,000 bpd.
"Oil and gas production in Libya has been consistently down as a result of the illegal blockade of oil facilities," the NOC said in a statement.
"The current level of production is 114,331 bpd, as of March 8, 2020. Forced restriction of production has resulted in financial losses exceeding 2,932,005,883 U.S. dollars since Jan. 17, 2020," the statement said.
The NOC expressed concern regarding possible fuel shortage in the coming days due to forced reduction of production, local refinery shutdown, and lack of funding to import sufficient fuel for local consumption.
Tribal leaders in eastern Libya in January closed oil ports and fields, accusing the UN-backed government of using oil revenues to support the armed groups against the east-based army.
The east-based army has been leading a military campaign since April 2019 in and around the capital Tripoli, attempting to take over the city and topple the UN-backed government.
Editor:Cherie
