NOC: Losses due to closure of oil facilities nearing $5 billion

Alwasat - Cairo Fri 29 May 2020, 01:41 AM
alwasat radio

Libya's National Oil Corporation (NOC) announced that the cumulative losses as a result of the closures of oil facilities since January 19 is about $4.9 billion.
The NOC said in a statement posted on its Facebook page that this amount is "impossible to compensate from the reserve and considered very harmful to the economic future of the country", pointing out that this amount could have covered part of the state’s expenses such as salaries, fuel subsidies or confronting a pandemic.

The NOC appealed to "all the benevolent sons of the nation to use the language of reason in the supreme interest of the homeland" and allow the NOC to carry out work for the benefit of all Libyans, in order to support the national economy and "protect it from the consequences of bankruptcy and debts to external banks."

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