Libya’s National Oil Company has confirmed that is has lost virtually all of its oil production, at 1.2 million barrels per day of oil production, and $77 million in daily financial loss, according to the Libya Herald. The US Embassy in Libya today announced that the NOC should be allowed to immediately resume oil operations that have been offline since this weekend, after groups loyal to General Khalifa Haftar blocked all major oil ports. The NOC responded favorably to the US calls for resuming oil production, but said that “operations can only resume when illegal blockades are lifted. All responsible parties should lift blockades and respect rule of law.”Libya’s oil production, according to secondary sources provided in OPEC’s Monthly Oil Market Report for January, was 1.139 million bpd as of December. Supplies to the Ubari power plant in the south has also been disrupted, and when existing supplies run out, this power plant will shut down as well.

Source: Libya Today January 21, 2020 22:07 UTC