The National Oil Corporation has cautioned that it could resort to declaring a state of force majeure unless production and shipping were resumed at the oil ports in the Gulf of Sirte.
In a statement on the NOC's Facebook account, the corporation's head, Mustafa Sanalla said they are considering taking the step within the next 72 hours, in the event the oil ports in the Gulf of Sirte remained closed.
"We call on all parties to be wise, give priority to the interest of the country, allow oil to flow and not to be dragged behind calls for escalation, and we urge adherence to Libya's sovereignty."
Sanalla welcomed the joint statement issued by the US, Italy, France, Germany, and the UK in which they underscored that Libya's resources must be managed in a transparent manner and for the public expenditure package for 2022 to reflect the priorities in tunnels on the worn-out oil sector, saying this would help them carry out their tasks without any obstacle.
He vowed that he will not stand idly by while some try to demonize the oil sector in the capital Tripoli, vowing to address these issues per the laws in force.
The NOC top official highlighted that the functioning of power plants, drinking water desalination, and strategic factories are conditionally linked to the continuation of oil production.
"Part of which is exchanged for fuel destined for vital facilities with the approval of the government because the Central Bank of Libya and the Ministry of Finance stopped feeding the hydrocarbon account six months ago," Sanalla added.
He also noted that the rates of oil exports have decreased in a way that would affect fuel supplies in the coming weeks, which in turn will lead to more power cuts due to the lack of funding to secure liquid fuel.
