The Libyan National Oil Company (NOC) has suffered losses of over $3.5 billion because of the forced closure of major oil sites since mid-April. Management of the company announced on Thursday declaring a state of "force majeure" at some facilities. Libya suspends production at major oilfield https://t.co/T9yYkzD26K — africanews 😷 (@africanews) April 18, 2022According to the NOC, production has "fallen sharply" and exports have dropped to between "365,000 and 409,000 b/d, a loss of 865,000 b/d" compared to the average production before the crisis. In addition, 220 million cubic metres of gas are lost every day, although this is necessary to supply the electricity network. The drop in gas production is contributing to the chronic power cuts that Libya is currently experiencing, which last a dozen hours daily.
