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Home Oil & Gas

Sirte, Hariga Blockade Costing Libya $67m/day

11th July 2018
in Oil & Gas
Meeting addresses Property Disputes in Libya
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National Oil Corporation (NOC) chairman Mustafa Sanalla has met with the new US Charge d’Affaires to Libya, Mr Joshua Harris.

Mr Harris took up the post succeeding Ms Stephanie Williams, who was appointed by the United Nations Secretary-General Antonio Guterres as Deputy Special Representative for Political Affairs in Libya.

The two parties discussed recent events in the Gulf of Sirte, which have led to the declaration of force majeure at Ras Lanuf, Es Sider, Zuetina and Hariga ports respectively.  Mr Harris expressed the support of the United States government to find a solution to the current crisis, and recognition of NOC as the sole legitimate Libyan entity responsible for the exploration, production and export of crude oil and petroleum products.

Mr Sanalla advocated NOC’s preference for greater transparency in the distribution of national revenues and the need for wholesale reform of the budgetary process.

The NOC Chairman outlined activities undertaken since the start of the crisis by the authorities in the East and by the chairman of the parallel institution ‘NOC East’, including a current attempt to reconstitute the board of NOC subsidiary companies, illegal under Libyan law.

The blockade at the Gulf of Sirte and Hariga ports is costing the Libyan public purse $67 million a day in lost production; a total of $725 million to date.

Mr Sanalla explained the extent of additional issues faced by NOC, including widespread attempts at smuggling and fuel theft. The two parties also discussed the 48 named individuals and entities that NOC has requested be sanctioned by the UN Libyan Sanctions Committee for attempts to steal and illegally export Libyan natural resources.

(Source: National Oil Corporation)

Tags: featuredNational Oil Corporation (NOC)oil productionoil revenuesUnited States

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