The Libyan National Oil Corporation (NOC) said Saturday financial losses of the oil blockade had reached over 8.36 billion dollars from January up until August 15, 2020.

The NOC said the oil blockade had contributed to power outages in Libya, in addition to financial losses. It said the oil ports should be reopened to resume oil production and exports.

The NOC said earlier this week that the closure of oil ports in the Gulf of Sirte is the main reason for the power outages in eastern Libya.

"By closing the ports in the Gulf of Sirte, the condensate reservoirs at the export ports will be filled within days, so production of gas associated with the condensate, which feeds Zueitina power stations and north of Benghazi, will cease." It added.

Eastern Libya has been hit by a wave of increased hours of power outages in the last few weeks amid the increased summer heat in Libya.