Libya's National Oil Corp: Hundreds of millions in damage, tens of billions in lost sales due to Jadhran attack on oil ports

Alwasat - Cairo Mon 18 Jun 2018, 12:05 PM
alwasat radio

Libya's National Oil Corporation (NOC) has warned of heavy losses from the attacks on the Oil Crescent, estimated to be "hundreds of millions of dollars for reconstruction and tens of billions in lost sales opportunities."

The NOC confirmed in a statement issued earlier today, "the loss of reservoirs No. 2 and No. 12 at Ras Lanuf port after the armed attack carried out by Ibrahim al-Jadhran and allied gangs in the Oil Crescent on Thursday," pointing out that the attack "led to the reduction of storage capacities from 950,000 barrels to 550,000 barrels of crude oil."

The National Oil Corporation announced the status of force majeure and stopped shipments of crude oil from the ports of Ras Lanuf and Sidra, as of last Thursday after the attacks.

The NOC predicted that the reconstruction of the reservoirs will take many years, warning of "an environmental and economic disaster, completely disrupting the port infrastructure even if security conditions improve in the coming period."

The statement called on "the militias of Ibrahim al-Jadhran and his allied gangs to withdraw immediately and unconditionally and immediately stop the military operations in the region." Also urging citizens "to provide support and assistance to the firefighters to reach the reservoirs and to save what can be saved."

Related Topics