Libya's NOC warns that calls for shutting down oil output would escalate national crisis

Libya's NOC warns that calls for shutting down oil output would escalate national crisis

June 23, 2019 - 18:45
Posted in:
Written By: AbdulkaderAssad

The Libyan National Oil Corporation (NOC) has voiced concerns about the recent calls for the shutdown of national oil production.

NOC said on Saturday in a statement that this crucial source of income to the state, vital to all Libyans, (oil) must remain de-politicized 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." The statement reads.

It added that 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." It added.

NOC said it 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.

The Speaker of the House of Representatives (HoR) in Tobruk, Aquilah Saleh, threatened in a TV interview to shut down oil production, saying Libyan oil revenues end up at the Tripoli-based Central Bank which uses it to buy weapons.

 

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