Libya's losses from the suspension of oil and gas production exceeded 120 million dollars
The damage caused by the decision of the Libyan House of Representatives to suspend the operation of oil and gas wells exceeded 120.3 million dollars in three days, Anadolu reported, citing the Libyan National Oil Corporation (NOC).

On Monday, August 26, the government of Libya, authorized by the House of Representatives (Parliament), declared a state of force majeure in all eastern fields, ports, oil organizations and enterprises, and suspended oil production and export until further notice.

The decision to halt production comes amid disagreements with the internationally recognized government of Libya, located in the west of the country. Controversy surrounds the leadership of the Central Bank of Libya.

Earlier, the information technology manager of the Central Bank of Libya, Musab Muslim, announced that he had stopped all his activities due to the kidnapping on August 18.

On the same day, the Presidential Council of Libya announced that it had made a unanimous decision to elect a new head of the country's Central Bank and form a new board of the regulator.

The President's Council noted that the decision was adopted in order to ensure financial and economic stability in the country, the Central Bank to perform its tasks efficiently and fully, as well as to ensure the continuity of financial services.

On August 19, the House of Representatives of Libya announced that it does not agree with the decision of the Presidential Council.

For information, the Central Bank of Libya has been headed by Siddiq al-Kabir since 2011.

Related to the topic

  • Libyan leaders have agreed to form a new coalition government

    The three main leaders of Libya, which has not been able to achieve peace since the unrest in 2011, met in the Egyptian capital at the invitation of the Arab League secretary general. In a joint statement, they agreed to establish a technical committee "to consider controversial issues" and form a joint new coalition government.

    Read more...

  • In Libya, armed groups and the government have agreed to secure Tripoli

    The situation in Libya has worsened in the last two months. Armed clashes took place near the capital Tripoli, and armed individuals who demanded the resignation of Siddique Al-Kabir, who has been in charge of the Central Bank for 12 years, attacked the Central Bank headquarters. Under the pressure of the international community, the parties agreed to ensure the security of important government offices in Tripoli. The country is currently divided between the UN-recognized government of Abdulhamid Dbeiba and military leader Khalifa Haftar, who controls the east.

    Read more...

Most read

Recommended
All