Libya’s state-owned National Oil Corporation (NOC) declared, on April 19, the state of force majeure in the port of Hariga.
ccordig to NOC, force majeure was declared due to the Central Bank of Libya’s refusal to liquidate the oil budget for months.
As Xinhua informs, in 2020 the former UN-backed government of Libya decided to allocate 1,048 million dinars (230 million U.S. dollars) to the NOC.
Now, suspension of oil exports at Hariga port could lead to daily loses of over 26 million dollars. Additionally, the lack of budget causes debts to some the NOC’s companies, causing a fall in the daily oil production of around 280,000 barrels per day.
Finally, the NOC asked the Office of the Attorney General to “hold accountable all those obstructing NOC’s operations, directly or indirectly, and to take the necessary legal actions against those who attempt to jeopardize the capabilities of the country and damage Libya’s only source of income.”