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Libya’s eastern-based forces move to halt oil exports

Libya’s eastern-based forces move to halt oil exports
Saturday 18
22:4 2020

Libya’s critical oil industry is dominated by the National Oil Corporation, which declared that the suspension of exports would prevent the company from fulfilling contracts with international oil companies. AD AD It warned the closure of eastern port terminals under Hifter’s control would cut crude oil production by 800,000 barrels a day and estimated the country would lose $55 million in daily revenues. Hifter’s self-styled Libyan Arab Armed Forces and oil field guards have ordered five subsidiaries of the national oil company to halt exports from over50 key oil fields and multiple port terminals surrounding the coastal city of Sirte. ...

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Read more from Washington Post : Libya’s eastern-based forces move to halt oil exports
Washington Post : Libya’s eastern-based forces move to halt oil exports

Summary: The National Oil Corporation in Libya says a decision by east-based forces to choke off oil exports from its territory has threatened to throttle much of the country’s oil production

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