Libyan oil has been affected by a conflict that extends for almost a decade between the Libyan National Army led by General Khalifa Haftar and the National Accord Government, but Haftar has confirmed that the National Oil Corporation (NOC) has the “exclusive” right to export Libya’s crude oil, according to his response to questions from Bloomberg News.
Haftar issued statements in an interview with Bloomberg that assure oil market observers and investors about the future of production stability in the country.
Haftar stressed that any potential “sabotage” is not allowed and that the Libyan National Army (LNA) was able to be “extremely careful” in battles against militia groups to ensure the security of oil installations.
The Libyan leader highlighted the military role in the protection of oil reserves, which is a vital sector for the country’s economy amid the conflict as the army seeks to ensure that the industry is “devoid of any appearance of corruption.” Haftar described the country’s aspirations to convince OPEC and the United Nations as “not a matter of army.”
Mustafa Sanalla, the chairman of the NOC in the Libyan capital, says that Libya produces about 1.3 million barrels of oil a day, but he warned of a potential collapse in output due to the conflict. According to Bloomberg, Libya, as an OPEC member, saw its oil production plunge by 800,000 barrels a day within a matter of days last June.