Libya’s political divisions mean NOC is not receiving its share of current, limited, oil revenues. With no cash to fund upstream operations, output is falling further.

The failure of Libya’s internationally recognized government to make funds available to the state oil company is costing the country more than $10mn a day in lost oil revenue, according to the country’s hydrocarbons chief. Oil exports have fallen to little more than 200,000 b/d.

In a statement on the...