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FINANCIAL NEWS
Libya loses USD7b in oil revenue due to turmoil
11 Dec 2013
(MENAFN) The Libyan Oil Minister said that the country lost over USD7 billion as a result of strikes at oilfields and ports which significantly cut exports, The Peninsula reported.
Also, Libya now faces fierce competition from Algeria and Nigeria in the Mediterranean oil market, and Libya is now searching for new markets in Asia.
Oil output in the North African nation dropped from 1.4 million barrels per day (bpd) in July to 250,000 bpd, causing the country to lose nearly USD7.29 billion in oil revenue.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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