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.
Tags Bloomberg News Agency Libya
Check Also
Wind Overtakes Fossil Fuels as the UK’s Largest Power Generation Source
The UK saw two consecutive quarters of wind power overtaking fossil fuels as the single-largest …