Libya’s NOC chief says instability could lead to 95% oil production loss

Mustafa Sanalla, the chairman of state oil firm NOC, attends Benghazi International forum and Exhibition of Oil and Gas. (Reuters)

Libya’s National Oil Corporation (NOC) chief said on Saturday continued instability in Libya could make it lose 95% of its oil production.

“Unfortunately if the situation will continue like this I’m afraid that maybe 95% of production will be lost,” Mustafa Sanalla told reporters in Jeddah ahead of a ministerial panel gathering on Sunday of top OPEC and non-OPEC producers.

Sanalla said an attack had happened near Zella oilfield earlier on Saturday.

Last Update: Wednesday, 20 May 2020 KSA 09:59 - GMT 06:59