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Tuesday 15 June 2021
HomeNewsLibya loses US$ 9bn oil revenue due to disruptions

Libya loses US$ 9bn oil revenue due to disruptions

Libya has lost about US$9bn following the locking up of its oil fields and port terminals, thus causing lack of trust on the world market and considerable damage to its oil infrastructure.

PANA reports that the population in western Libya has been facing shortage of fuel for the past several weeks. Long queues of vehicles are seen at fuel service stations.  

Other Libyan towns are in the dark for several hours daily because of power cuts caused by the closure of the power station of Al-Rouissi that transmits electricity to most of the towns in the country.

This follows protests by the Amazigh, who are calling for their dialect and rights to be recognized by the new Constitution under preparation.

However, the Libyan Oil Minister, Abdel Bari al-Aroussi, has called on the population not to rush to buy fuel as enough supplies are available in the strategic reserves.

Meanwhile, gunmen and security guards, who keep watch at the oil sites, have blocked the ports of Al-Barika, Al-Zawaytina, Al-Sadra and Ras Lanouf, situated at 200 km east of Benghazi, since last July because they have not been paid.

They also challenge the oil sale agreements to foreign companies signed by the government who they accuse of corruption.

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