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FINANCIAL NEWS
Libyan oil revenues drop 80 percent since July
28 Nov 2013
(MENAFN) Revenues of Libyan oil saw a significant fall of 80 percent as a result of blocking oil terminals beginning from July, according to the Peninsula Qatar.
Prime Minister Ali Zeidan said: “We are now facing an economic crisis” that could force the government to “take out loans and not be able to honour its obligations on payment of salaries.”
Oil production is expected to fall to 250,000 barrels per day compared to 1.5 million barrels per day previously, said the National Oil Co.
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