Economics and Business

NOC: Zawiya refinery shutdown will cause further financial losses

Libyan Cloud News Agency – Tripoli

The National Oil Corporation (NOC) said that it was forced to shut down the Zawiya refinery on Saturday, February 8, as a result of a valve closure in the Hamada region, on the main pipeline between Sharara field and Zawiya refinery.

The shutdown halted production at the field.

NOC confirmed that the shutdown will exacerbate the problem of managing, importing and distributing fuel and will lead to very significant costs to the treasury to import additional fuel to replace the refinery’s production.

NOC chairman, Mustafa Sanalla, indicated that the illegal oil blockade is creating an unprecedented challenge for NOC to continue the supply of fuel to the Libyan people and the country’s vital facilities, such as power stations.

He added that he political interference in the Libyan oil and gas sector will have devastating short- and long-term effects on the Libyan economy and the Libyan people.

“This is developing into a true national crisis. Immediate action is needed to end this irresponsible blockade,” Sanalla concluded.

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