Calls to Shutdown Oil Production Risk Escalating National Crisis

Source: www.gulfoilandgas.com 6/22/2019, Location: Africa

National Oil Corporation (NOC) is concerned by recent calls for the shutdown of national oil production. This crucial source of income to the state, vital to all Libyans, must remain de-politicised and uninterrupted to ensure that basic fundamental services are financed and continue to be provided to citizens across the country.

Any deliberate disruption of oil sector operations will severely impact national revenue streams, potentially render NOC in contravention of contractual obligations, and create further division in the country. Admissions of attempts to export oil illegally, in contravention of international law and United Nations Security Council resolutions, should be called out and condemned. These attempts deter further investment in the oil sector and jeopardize our future. NOC continues to call for economic transparency - including the equitable distribution of oil revenues nationally - to be embraced by all parties as an integral element of Libya’s future stability, and any lasting political settlement.

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