Libya Central Bank: $6 billion lost due to oil facility closures in first 5 months of 2020

Alwasat - Cairo Mon 08 Jun 2020, 05:35 PM
alwasat radio

Libya's Central Bank announced on Monday, that the losses due to oil facility and ports closures during the first five months of this year amounted to 6 billion dollars.

The Central Bank, in a statement of revenue and spending during the period from January 1 to May 31, said that the total oil revenues amounted to 4.97 billion dinars. Declining each month, leading to 124 million dinars for May.

The National Oil Corporation announced on Sunday the return of production to Sharara oilfield, after long negotiations to open the Hamada valve, which was shut in January. The field is scheduled to return to production with a capacity of 30,000 barrels per day in the first stage and is expected to reach its full potential of 300,000 barrels within 90 days.

Related Topics