Libya: Losses from the closure of the Sharara field pipeline exceed $95 million

Tunis, Sept 26 (KUNA) -- Libya's National Oil Corporation (NOC) announced on Saturday that the continued closure of the Sharara oil field pipeline to the Zawiyah port has caused production losses to rise to 942,376 barrels during the period from September 21 to 25, resulting in losses of approximately $95 million.

The NOC stated in a statement that the ongoing closure of the pipeline by protesters from the Oil Facilities Guard in the country's southwest threatens to exacerbate losses, in addition to affecting crude oil supplies destined for the Zawiyah refinery. It warned of the potential gradual shutdown of refining units due to declining available crude oil inventories, which could lead to disruptions in petroleum product supplies and increased financial and technical burdens.

Earlier today, the NOC announced in a previous statement that it had been forced to shut down one of the refining units at the Zawiyah refinery due to the continued forced closure of the valve on the Sharara field pipeline.

The NOC reiterated its warning about the risks of continued obstruction of crude oil flow through the main pipeline, which would have a direct negative impact on the state's overall oil revenues, in addition to doubling the fuel import bill and harming the Libyan economy.

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