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Author: LS

Audit Bureau estimates current war losses

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The head of the Audit Bureau, Khaled Shakshak, claimed that preliminary estimates for the ongoing war on Tripoli indicate that losses exceed 60 billion dinars.

In a press statement, Shakshak said that closing oil ports is “a blackmail and a repetition of a scenario that costed the state 150 billion dinars in the past years.”

“Those who started this war under the pretext of fighting corruption are committing a great betrayal for receiving money from foreign countries,” he added.

Libya: Total losses after 10 days of oil blockade

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After 10 days of shutting Libya’s major oil fields and production facilities, the National Oil Corporation claimed that the losses continued to increase and surpassed $560 million.

Yesterday, the NOC posted on its Facebook page an appeal to “end the illegal closures and allow the corporation to resume production immediately.”

Eni: Oil disruption in Libya cuts off oxygen

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During a press meeting, the executive chairman of Italy’s Eni ,Claudio Descalzi, called on European diplomacy to focus on Libyan crisis, adding that the situation in Libya became more complicated.

He added that the illegal blockade of fields and ports decreased oil as well as gas production in the country after declaring force majeure on January 17.


NOC suffers to obtain sufficient budget

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Chairman of National Oil Corporation, Mustafa Sanalla, confirmed that oil is available in all Libyan areas. Yet, the company has been suffering to obtain the oil budget since 2014.

He added that the budget allocated to the corporation is insufficient. For instance, technical problems may suddenly occur in local refineries, stating that Brega refinery has been suspended for the past 5 days, adding that Zawia refinery was shut several times due to technical problems and to the lack of electricity.

Morover, he explained the technical and environmental effects of the blockades, stressing that sudden stoppages of oil production are a disaster, and considered that crude oil left in pipelines is highly corrosion.

Sanalla stressed that ,in the last five years, 817 leaks in pipelines damaged by the years of blockades instigated by Ibrahim Jadhran.

 

Oil prices keep on decreasing

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Oil prices fell today as warnings spread over the economic impact of the Wuhan virus in China, while a bigger than expected increase in U.S. crude stocks added to the negative tone.

Brent LCOc1 was down 95 cents, or 1.6%, at $58.86 a barrel by 07:38 GMT.

However, U.S crude CLc1 was down 84 cents, or 1.6%, at $52.49 a barrel, after dropping 0.3% in the previous session.

Libya: Denouncement of Turkey’s armed support

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Today, the Supreme Council of Oil, Gas and Water denounced Turkey’s support for the GNA with heavy and light weapons through a barge that entered the Port of Tripoli “in full view of the international community”.

The Council also clarified that the barge was allocated for citizens’ needs. Morover, it called on UN mission to assume the responsibility and make an action via stopping such violations.

Enrolling Sudanese for military drill in Libya

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Dozens of Sudanese citizens, who returned from the UAE yesterday, claimed that they were forced to go into the military training by a security company to send them to war-torn North African country of Libya.

Talking to Anadolu Agency, Akahsa Ahmed, who was part of the group announced that many young men hired by the UAE-based security agency were sent to Libya after military training.

He further claimed that they were hired to work as guards by the Sudanese Agency called Amanda, which handed them over to the UAE agency Black Shields.

“We were paid 80.000 Sudanese pounds ($950). But when we arrived at Sharjah airport, they took us to a military camp for training. We understood that they are intending to send us to Libya” he said.

The rule of law: a key to resolve conflict in Libya

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During his speech at Chatham House on Monday, National Oil Corporation chairman Mustafa Sanalla emphasised the importance of the rule of law in Libya as a solution to the protracted conflict.

“The international community must understand that if it rewards or even tolerates those who break the law in Libya, then it will be complicit in the end of the rule of law in our country.  And that means more corruption, more crime, more injustice and more poverty,” he claimed. 

He also spoke about the recent port blockades and its devastating long-term effects, stressing that oil revenues are the backbone of the Libyan economy. They pay salaries for 1.3 million Libyans, support education, health and other crucial services. 

NOC: total losses since the blockade

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Today, the National Oil Corporation announced that total losses from the closure of Libya’s major oil fields and production facilities accelerated, reaching more than 502 million dollars over a 10-day period.

It also added that “The total value of losses reached $502,289,339,” the average daily loss at $50.2 million.

The corporation clarified that oil production dropped from over 1.2 million barrels a day before the seizures to 271,204 barrels on Monday.

Seeking to reassure Libyans, the corporation claimed that fuel levels in the country’s central and eastern regions “remain sufficient.”

However, the western and southern regions faced “some supply shortage due to the deteriorating security situation”.