Libya’s oil production hits new low at 80.000 bpd with over $4 billion lost since January

The Libyan National Oil Corporation (NOC) has announced that the country’s oil production is down to 80,510 barrels a day, as of Monday April 13, 2020, saying the forced restriction of oil and gas production has caused financial losses exceeding $4,087,913,653 since January 17, 2020.

“Many NOC facilities were illegally shut down on 17 January 2020. This resulted in the shutdown of Zawiya refinery, and since then, NOC has had to increase imports to meet people’s basic needs. Most oil and gas storage tanks are damaged and cannot be used.” The NOC said in a statement on Tuesday.

NOC called on all parties to lift the blockade and restart oil and gas production so that every Libyan can benefit from a more steady supply of fuels and a stronger economy.