NOC: Oil production losses exceeded seven billion dollars

July 20, 2020

The National Oil Corporation (NOC) announced in a statement on Sunday that the losses resulting from forced closure of oil ports and fields by Haftar militias since January 18, amounted to $7.104.931 billion.

The NOC lifted the force majeure on oil exports last Friday; however, Haftar militias forced it to shut-down once more two days later at the behest of the United Arab Emirates (UAE), who continue to support Haftar, according to NOC.

The NOC called on the international community to hold the countries responsible for the closure of oil exports accountable, however, they announced that return to ‘normal’ oil production may take some years to achieve.