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Central Bank Dispute

Central Bank Dispute latest

oil station in some oil fields in Libya
August 30th, 2024 - 09:33 GMT
Osama Ali

Osama Ali

Libya halts oil and gas production, resulting in over $120 million in losses

ALBAWABA - Following the stoppage of oil and gas production, the National Oil Corporation of Libya has recorded significant financial losses of more than $120.3 million in only three days. The House of Representatives (HoR) in eastern Libya issued an order to shut down all ports, oil fields, and associated institutions, which caused this interruption. On August 26, the HoR-appointed administration issued a "force majeure" order, therefore stopping export and ...
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