Blockade of oil sites has cost Libya nearly US$10 billion

15 Septembre 2020

Tripoli, Libya, September 15 (Infosplusgabon) - The blockade of oil ports and sites imposed since last January by forces loyal to Khalifa Haftar has cost Libya US$9.8 billion, the Libyan National Oil Company (NOC) said in a statement issued on Sunday.

Haftar-affiliated forces have imposed since 18 January a blockade on oil fields and ports in the regions they control, resulting in a loss of production of 800,000 barrels per day (bpd) against the production of more than 1.2 million bpd before.

On Saturday, the U.S. Embassy in Libya announced that Haftar's Libyan National Army (LNA) has transmitted to the U.S. government his personal commitment to allow the full reopening of the energy sector by 12 September.

The US Embassy added that this commitment was made in an exchange of letters between Ambassador Richard Norland and the LNA Commander Haftar, and in recent discussions with a wide range of Libyan leaders.

The ambassador stressed U.S. confidence in the NOC and support for a financial model that will provide a credible guarantee that oil and gas revenues will be managed transparently and safeguarded for the benefit of the Libyan people.

On 21 August, the President of the Presidential Council in Libya, Fayez al-Sarraj, and the Speaker of Parliament based in the east, Aguila Saleh, announced a ceasefire and called for the resumption of oil sector activities and the freezing of revenues in a bank account until an arrangement is reached among Libyans on a mechanism for transparent management and equitable distribution over Libyan cities and regions.

This oil management will be done with the guarantee of the United Nations, the United States and other countries of the international community.

FIN/ INFOSPLUSGABON/MMO/GABON2020

© Copyright  Infosplusgabon