Business Maverick

Business Maverick

Libya’s Central Bank Calls for Resumption of Oil Output, Exports

A pump jack operates near Stratford, Texas, U.S. Photographer: Angus Mordant/Bloomberg
By Bloomberg
07 Oct 2020
0

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.

Libya Oil Closure a ‘Bullet in the Head,’ Says Bank Governor (1)

Gallery

Comments - Please in order to comment.

Top Reads This Hour

Snuffed out — Starlink’s South African customers out in the cold as Musk’s company terminates unapproved service
South Africa

Snuffed out — Starlink’s South African customers out in the cold as Musk’s company terminates unapproved service
Signature fraud claims against Zuma’s MK party may imperil poll legitimacy
South Africa

Signature fraud claims against Zuma’s MK party may imperil poll legitimacy
Election Alignment: ANC-EFF coalition pact for Gauteng government is a given
Maverick News

Election Alignment: ANC-EFF coalition pact for Gauteng government is a given
Lekker Brekker Monday: Cheesy polenta with a fried egg & onion-tomato relish
TGIFood

Lekker Brekker Monday: Cheesy polenta with a fried egg & onion-tomato relish
[ML; PIC TO COME] ‘Bob Marley: One Love’ opens the door to a wider audience for his vision and music
Africa

[ML; PIC TO COME] ‘Bob Marley: One Love’ opens the door to a wider audience for his vision and music

TOP READS IN SECTION

Snuffed out — Starlink’s South African customers out in the cold as Musk’s company terminates unapproved service
South Africa

Snuffed out — Starlink’s South African customers out in the cold as Musk’s company terminates unapproved service
Gloves come off as SA’s Takealot and Zando tackle global juggernauts Temu, Shein and Amazon
Maverick News

Gloves come off as SA’s Takealot and Zando tackle global juggernauts Temu, Shein and Amazon
Eskom forecasts ‘light’ load shedding in winter after 30-day break from rolling blackouts
Maverick News

Eskom forecasts ‘light’ load shedding in winter after 30-day break from rolling blackouts
Transnet turnaround looks promising, but set to be a long haul
South Africa

Transnet turnaround looks promising, but set to be a long haul
Solar takes a load off but feed-in options are lagging behind the curve
South Africa

Solar takes a load off but feed-in options are lagging behind the curve

Investigations

News & Analysis

Features

Newsletters

Community

DM168

Daily Maverick © All rights reserved

Please peer review 3 community comments before your comment can be posted

X

This article is free to read.

Sign up for free or sign in to continue reading.

Unlike our competitors, we don’t force you to pay to read the news but we do need your email address to make your experience better.


FAQ | Contact Us

Nearly there! Create a password to finish signing up with us:

Please enter your password or get a sign in link if you’ve forgotten

Open Sesame! Thanks for signing up.

Daily Maverick needs your support

We're not asking you to pay for every article you read. We're asking you to support us so that we can keep doing what South Africa needs us to do. Without the support of our readers, we won't be able to keep going.

If you really can't afford the price of an extra cup of coffee a week, then know this: we will never force you to pay. We'e got your back and one day, you'll have ours.

SUPPORT DAILY MAVERICK
Become a Maverick Insider