Libya Says Sharara Pipeline Shutdown Causes $75 Million in Losses
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8 Articles
According to the National Petroleum Corporation of Libya, its direct losses as a result of the closure of the crude transport line from Al-Shara ' a to the corner exceeded $75 million until Thursday, while the lost production was estimated at more than 720,000 barrels since the closure.
How Is The Sharara Pipeline Closure Affecting Libya’s Oil Sector?
The continued closure of the Sharara-Al Zawiya crude pipeline has cost Libya more than $75 million in just four days, while raising the risk of disruptions at the Al Zawiya refinery and to petroleum product supplies. Libya’s National Oil Corporation (NOC) said the closure of Valve No. 7 on the main pipeline operated by Akakus […]
Today, Friday, the National Petroleum Organization of Libya stated that the continued forced closure of the No. 7 valves on the main crude transport line (Sharra-Akkara) of Akakos Oil Operations had sharply exacerbated the cumulative decline in the production of the spark field, and a significant increase in the loss of raw material intended to feed the corner refinery for oil refining.
The National Petroleum Corporation declared that the continued closure of valve 7 on the line of sparking the corner caused the loss of approximately 720 thousand barrels of crude in four days, with financial losses of more than $75 million until September 24. It warned against high losses in the event of continued closure, noting that a decline in the supply of raw materials could lead to a halt.
In Libya, protesters shutting down a valve on the Sharara oil pipeline caused the country losses exceeding $75 million in just four days. NOC announced that production fell by 720,362 barrels between September 21-24, and that losses would increase if the shutdowns continued.
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