Libya’s National Oil Corporation (NOC) announced a drop in its oil production, declining to 123,537 barrel per day (bbl/d) as of February 18, with losses exceeding $1.7 billion, according to a statement by the company.
The company said the drop in production is a result of the blockade of ports and pipelines. According to the statement, the surrounding areas in Libya’s southern regions, are facing supply shortages due to the country’s instability. Moreover, fuel vessels have evacuated from Tripoli port after the liquefied petroleum gas (LPG) tanker near the port was hit.
NOC is calling for all blockades to be lifted to allow the corporation to resume its production.
However, the corporation still able to supply hydrocarbons to the central and eastern regions in sufficient quantities that meet the domestic needs.