Sirte Oil Company said in a statement that the company’s financial situation is very critical, adding:” we have no capacity to continue operating production units and we will have to cut production and stop it permanently within 72 hours, we have no ability to fulfil our contractual obligations to contractors and accumulated debts.
The oil company added that it has a significant budget shortage that has not been covered by the Central Bank of Libya (CBL) for 7 months, which resulted in a severe shortfall in the provision of spare parts and materials to continue production
According to Sirte Oil Company, the amount of gas turbine operating oils and lift compressors in the fields of the company is almost completely exhausted, which threatens complete stoppage if it is not remedied urgently