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NOC: Oil shutdown losses exceed $2 billion

In an official notice, NOC expressed its deep concern about a potential fuel shortage in the coming weeks after the loss of local production, the Zawiya refinery shut down and the lack of sufficient import budgets.

Oil and gas production in Libya have been consistently down as a result of the illegal blockade of ports and pipelines.

NOC reported that the current levels of production are 120,568 barrels per day, as of Friday February 28, 2020.

Forced restriction of production has resulted in financial losses exceeding $2,347,200,138 USD since January 17, 2020.

The notice also mentioned that Tripoli storage depots and some of the surrounding areas and Southern regions are still suffering from a lack of supplies due to the deteriorating security conditions, pointing out that the city of Tripoli is supplied with hydrocarbons directly from the Tripoli port.

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