Libyan state oil firm says output down 75% due to blockade

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Plunge has caused an estimated loss of US$256 mil.

TRIPOLI: Libya’s oil production has plunged by around three-quarters since forces loyal to military strongman Khalifa Haftar launched a blockade a week ago, the National Oil Corporation announced Saturday.

Pro-Haftar forces blockaded the main oil terminals in eastern Libya the day before a summit in Berlin on Jan 19 that called for the end of foreign interference in the conflict and a resumption of the peace process. Exports were suspended at the ports of Brega, Ras Lanouf, Al-Sidra, Al-Hariga and Zweitina in the country’s “oil crescent”, the conduit for the majority of Libya’s crude exports.

 

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