Libya’s losses close to $2.6bn after Haftar’s oil blockade 

Economic fallout continues from the retired Major General Khalifa Haftar’s blockade of Libya’s vital oil fields and ports, with losses close to $2.6 billion, the National Oil Corporation (NOC) announced yesterday, intensifying the pressure on the UN-supported government in the capital, AP reported.

As of Monday, loses from 18 January amounted to close to $2.6 billion, the corporation said.

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Libya’s oil and gas production have consistently fallen since oil facilities were shut down, with daily production dropping to 123,240 barrels a day, the NOC added.

Libya’s oil production hit its lowest point since the 2011 uprising against former leader Muammar Gaddafi, after Haftar’s forces placed a blockade on the country’s ports on 18 January.

Libya has the ninth largest known oil reserves in the world and the biggest oil reserves in Africa.

READ: Tripoli said to be set for offensive on Haftar’s forces

The closure of the oil facilities was seen as part of Haftar’s efforts to capture Tripoli and punish adversaries there for sealing security and East Mediterranean maritime agreements with Turkey, opening doors for military support from Ankara.

On Monday, the UN envoy for Libya, Ghassan Salame, resigned from his position of three years, throwing UN-led efforts to end the conflict into further chaos.

Salame, 69, said: “ I tried to re-unite Libyans and restrain foreign interference […] but for health reasons I can no longer continue with this level of stress.”

Haftar has been barking up the wrong tree