Atwasat

Libya's National Oil Corporation warns of falling oil production




Alwasat - Cairo Fri 04 Oct 2019, 04:15 PM
alwasat radio

Libya's state-owned National Oil Corporation (NOC) on Wednesday warned of a severe drop in oil production in the next nine months "if the government continues to withhold already approved budgets."

"If the corporation's allocations are not released without delay, Libyan oil production will be hundreds of thousands of barrels per day lower than it should be. That will have an extremely negative effect on national income," said NOC Chairman Mustafa Sanalla in a statement.

The oil sector, the country's main source of income, has suffered tremendously due to armed attacks on its oil fields and ports.

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