Libya National Oil Corporation Board Chairman Mustafa Sanalla said that “losses from the closure to date have exceeded 16 billion Libyan dinars (about $3.59 billion) and production has declined and sharply declined. with daily exports from 365 to 409 thousand barrels,With a decline of 865,000 bbl/d from normal production rates, in addition to losses of 90 million cubic feet per day of gas from the Farg field and about 130 million cubic feet per day of natural gas from the Abu At-Til field.

In a statement, he stressed: “Our patience has run out after we have repeatedly tried to avoid declaring a force majeure state, but the fulfillment of our obligations has become impossible, and we are forced to declare a state of force majeure on the ports of Sidra and Ras Lanuf, in addition to the Elephant field, in while force majeure continues Cairo in the ports of Brega and Zweitin.

Sanalla explained that “according to this announcement, it has become impossible, among other things, to supply the Zueitina, North Benghazi and Sarir power plants with their natural gas needs, since crude oil production is associated with gas from the Waha and Mellitah fields, which led us to a pipeline failure. supplying the coast with natural gas.

He stressed: “Today, more than ever, we are facing enormous challenges in our inability to fuel the needs of the country’s vital facilities, and in the fact that at stake is the exchange of crude oil from existing production for liquid fuels, since in as a result of a sharp drop in production. In addition, accounting for fuel in hard currency was violated due to the refusal of the Central Bank and the Ministry of Finance to eliminate deductions in US dollars.

On Monday, the corporation warned that it would declare “force majeure” within 72 hours if oil production in the Gulf of Sirte in the east of the country does not resume.

A force majeure declaration is a temporary suspension of operations and protection provided by law for an institution in the face of legal liability as a result of its failure to fulfill foreign oil contracts.