In Libya, losses from the shutdown of major oil fields and terminals had surpassed $2bn, the National Oil Corporation of the war-torn nation said. Production has dropped from 1.2 million barrels a day before January to about 120,000 this week, the corporation said in a statement. Rival Libyan politicians met last week for UN-sponsored political talks in Geneva aimed at ending the latest round of fighting over the capital, Tripoli, but no tangible progress was scored. The resumption of political negotiations, one of three ongoing UN-mediated diplomatic tracks, followed an agreement between military officials to formalize a shaky ceasefire around Tripoli. Last month, militants and activists loyal to the Libyan warlord Haftar blocked oil exports from the country’s key ports, despite a temporary truce between Haftar’s forces and the rival GNA.

Source: The North Africa Journal March 02, 2020 12:11 UTC