The Libyan National Oil Corporation (NOC) announced that recent shutdowns have resulted in the loss of approximately 63% of the country’s total oil production, posing a significant challenge to the national economy and directly affecting the lives of Libyan citizens.
The NOC emphasized that the reasons behind the oil shutdowns are unrelated to the corporation itself, noting that the oil sector serves as the safety valve for Libya. The sector unites workers from all parts of the country—east, west, and south—and embodies Libya’s unity, representing the backbone of its economy and the future of its coming generations.
The statement continued, saying that the current NOC board of directors took on the responsibility of being a unifying force. They are fully aware of the unfortunate state of division and are working with wisdom, patience, and foresight to deal with the imposed reality.
The statement further stressed that repeated shutdowns result in the loss of a significant portion of oil production, cause the deterioration of the sector’s infrastructure, and undermine efforts to achieve production increase plans. Moreover, restarting the halted fields will require substantial costs and doubled technical efforts, adding further burdens on the corporation and the national economy.
The statement mentioned that NOC teams are currently working to minimize the damage as much as possible and to alleviate the impact on citizens, while also assessing the losses caused by the shutdowns.
It added that the NOC is doing everything possible to maintain the flow of oil and gas to keep vital facilities running, ensure the supply of fuel to the local market, and guarantee the delivery of gasoline to fuel stations. The corporation is also striving to keep gas fields operational to supply power plants with electricity. Meeting the needs of citizens is a top priority for the NOC board of directors.
The NOC reassured everyone that it is in continuous and intensive communication with all parties involved and expects a resolution to the crisis soon. It called on all parties to act with reason, prioritize the nation and its citizens, and take serious and responsible steps to resolve this urgent crisis
