Libya’s central bank calls for resumption of oil output, exports
by Bloomberg Oct 06, 2020
Libyan Central Bank Governor Sadiq Al-Kabir called for an immediate resumption of oil operations to shore up the economy amid an unprecedented decline in monetary reserves.
“We need to raise the production to 1.7 million barrels per day to cover the country’s spending,” Al-Kabir said at a forum that centered around a discussion on Libya’s economic situation.
Shutting down the country’s oil operations repeatedly from 2013-2020 has generated about $180 billion in losses, Al-Kabir said.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
Similar Stories
“K” LINE to support relief efforts following earthquake off the Coast of Mindanao
The earthquake that struck off the coast of Mindanao, the Philippines, on June 8 caused severe damage in a number of regions.
View Article
Bab el-Mandeb: a second ‘chokepoint’ for global trade?
View Article
USMCA enters a new era: What the next 10 years mean for U.S. Importers
View Article
Transportation Consumer Price Index – June 2026
View ArticleSogese H2 Outlook: Suez return could unleash capacity and trigger fresh port congestion
Container freight rates have continued to climb into July.
View Article
Key European shipping corridor hit by river and rail freight ‘double whammy’
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
