Libyan governments’ failure to provide necessary funds is leading to irregular oil production and hard currency earnings: NOC

Libya’s state National Oil Corporation (NOC) has demanded the country’s decision-making departments to provide funding for the maintenance of the oil sector infrastructure, building tanks and the maintenance of what the wars had destroyed.

It complained that it has not obtained the necessary financial allocations, which led to irregular oil production and sometimes stopping some fields from pumping because of leaks and other factors, which has affected the country’s hard currency earnings.

The demand by the NOC came in a statement last Wednesday when it had announced that bad weather was disrupting the country’s oil exports.

It had revealed that “the oil ports along the Libyan coast are experiencing a situation of bad weather, which has made it impossible to link the moored oil vessels.”

It added that “We don’t have enough tanks to accommodate two days of production at the Zawiya oil port and we are afraid that production will decline if bad weather continues for more than three days.”