Libya Oil Production Losses Reach $120M Following Central Bank Dispute

Libya loses US$ 120 million, and counting, because of recent oil closures: NOC

Sami Zaptia Libya Herald Chief Editor

Libya’s state National Oil Corporation (NOC) released yesterday breakdown figures of company-by company oil production reductions totalling US$ 120.3 million. These losses were for three days from 26 to 28 August. Production was down from around 1.2 million bpd to 591,000 bpd on 28 August.

The forced closures, imposed by the eastern based Hafter regime, are a tit-for-tat reaction to the western based Tripoli regime’s (the Presidency Council) forcefully ejecting the Central Bank of Libya Governor Saddek El-Kaber.

El-Kaber was replaced by a new Board, he had been operating without a board for a decade, and a new interim Governor.

Newly installed CBL administration claims it has gained control of all its banking systems (libyaherald.com)

Presidency Council welcomes yesterday’s UN Security Council statement – will participate in national dialogue within broader framework (libyaherald.com)

UN Security Council calls for a consensus-based solution to the current Central Bank crisis (libyaherald.com)

New interim CBL Governor Abdel Fattah Abdel Ghaffar holds first press conference in CBL (libyaherald.com)

UNSMIL deeply concerned over the deteriorating situation in Libya resulting from unilateral decisions (libyaherald.com)

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Several banking operations suspended due to CBL crisis (libyaherald.com)

CBL Governor El-Kaber reports attempted storming to Attorney General – holds Interior Minister responsible for its security

HoR condemns attempted storming of CBL (libyaherald.com)

No intention to storm Central Bank by force and administrative crisis has nothing to do with security authorities: Acting Interior Minister Trabelsi (libyaherald.com)

Presidency Council to elect new board and Governor of CBL (libyaherald.com)