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  • 12-02-20

    Suspension of Libya's oil exports leaves economy with USD 1.3 bln losses

    (MENAFN)The current closing of oilfields and harbors in Libya caused the oil exports to be postponed which in turn affected the country's economy with more than USD 1.3 billion losses, according to a statement issued by the state-owned Libya's National Oil Corporation (NOC) on Tuesday.

    The statement added that "NOC confirms a drop in (crude oil) production to the current level of 183,265 barrels per day, as of Tuesday February 11, 2020, with losses of 1.325 billion dollars."

    In a move to avenge the UN-backed government's exploitation of oil profits for the purpose of funding the armed groups against the east-based army, tribal leaders in eastern Libya have recently closed oilfields and ports.

    General Khalifa Haftar, leading the east-based army, has been attempting since April last year to take over Tripoli from the grip of the UN-backed Government of National Accord of Fayez al-Sarraj.

    MENAFN1202202000450000ID1099691866

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