Libya’s National Oil Company (NOC) has warned that the militarization of oil facilities, the presence of mercenaries and military escalation increase the risks that hydrocarbons and chemicals stored at oil ports pose to workers and the local population.
“This may lead to a disaster that is more severe than Beirut’s port and a massive destruction that will cause Libya to be out of the oil market for so many years,” a statement posted on NOC’s website on August 8 read.
“This will also result in the loss of sales opportunities estimated at hundreds of billions of dollars that other oil producing countries will benefit from. Furthermore, tens of billions will be needed for reconstruction at a time when budgets available are limited,” the NOC statement added.
In a statement posted on the company’s website on July 29, NOC said it was deeply concerned about the continuing militarization of its oil facilities and the heavy presence of foreign mercenaries at various oil fields and ports in the east and south of the country. NOC also reiterated its calls for withdrawal of mercenaries and the demilitarization of oil facilities in the statement posted last month.
A blast occurred in Beirut’s port on August 4. The BBC reported on Monday that the explosion has left more than 200 people dead and over 200,000 people homeless or living in homes with no windows or doors.
Libya’s NOC was established on November 12, 1970 and replaced the general Libyan Petroleum Corporation. The company reported crude oil, gas and condensate export revenues of $45.5 million for June, its latest financial release, which it highlighted was the lowest level recorded this year. NOC noted in the release that no revenues were earned from oil products sales for the sixth month in a row.
To contact the author, email andreas.exarheas@rigzone.com
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