Thread by @MahmudM27830556

The #Libyan National Oil Corporation announces force majeure at the #Harika oil port, attributing this to the Central Bank of Libya's refusal to disburse its operating budget

Source: National Oil Corporation•
#OOTT
#Libya

Sanallah: The daily losses may exceed 118 million dinars LYD due to the imposition of force majeure on the port of #Al_Harika

#Libya

The NOC said during its statement that the Central Bank of Libya, with such behavior, is seeking to politicize the oil sector through its illegal control of state funds according to the corporation,

the NOC , after obtaining the government's approval and the approval of the law administration, will resort and its companies to special arrangements in line with law is correct in light of the apparent deficit of CBL, whose motives in managing the current crisis are well aware.

According to NOC, this announcement came due to the Central Bank of Libya’s refusal to liquidate the oil sector’s budget for many months,

which exacerbated the indebtedness of some companies, led by the Arab Gulf Oil Company, which made it lose the ability to fulfill its financial and technical obligations and forced it to reduce the country's crude oil production by about 280 A thousand barrels per day.