Libya says oil shutdown losses reach over $500 million

Total losses from closure of Libya’s major oil fields and production facilities has accelerated, reaching more than $502 million over a 10-day period, country’s national oil company said Tuesday.  anuncement came as an artillery shell exploded close to a school south of capital, Tripoli, killing at least three children, health authorities said.

oil closures came when powerful tribal groups loyal to military commander Khalifa Hifter earlier this month seized several large export terminals along Libya's eastern coast as well as sourn oil fields. Hifter controls eastern Libya and much of sourn part of country.

moves were meant to challenge Hifter’s versaries in internationally backed but weak rival government that controls Tripoli and western areas.  National Oil Corporation, which dominates Libya’s critical oil industry, said, “ total value of losses since beginning of blockes has reached $502,289,339 as of Monday, January 27, 2020.” It put aver daily loss at $50.2 million.

corporation said oil production h fallen from over 1.2 million barrels a day before seizures to 271,204 barrels on Monday. Seeking to reassure Libyans, corporation said fuel levels in country’s central and eastern regions “remain sufficient.” It ded, however, that western and sourn regions have faced “some supply short due to deteriorating security situation” because of fighting between Hifter's forces and Tripoli-allied militias.

oil shutdown was seen as part of Hifter’s efforts to take control of Tripoli and punish his versaries re for sealing security and maritime agreements with Turkey, opening doors for unlimited military support from Turks. Oil, lifeline of Libya’s ecomy, has long been a key factor in civil war, with rival authorities jostling for control of oil fields and state revenue. Libya has ninth-largest kwn oil reserves in world and biggest oil reserves in Africa.

closure came just two days before world powers with interests in Libya’s long-running conflict pledged at a conference in Berlin to respect a much-violated arms embargo and push opposing factions to reach a cease-fire. Hifter’s self-styled Libyan Arab Armed Forces began offensive against capital last April, and fighting with an array of militias loosely allied with Tripoli-based government have killed over 3,000 people and displaced 200,000 in city.

Tripoli health authorities said three children were killed Tuesday when a shell hit close to a school in sourn town of al-Haba al-Bri. Ar child was critically wounded.  Tripoli fighting has threatened to plunge Libya into chaos rivalling 2011 conflict that ousted long-time dictator Moammar Ghafi, who was later slain. Hifter is supported by Egypt, Russia and United Arab Emirates, while embattled U.N.-backed government is aided by Turkey and Qatar.