Libya losing $60 million a day in oil shutdown: minister – Roya News English

Libya losing $60 million a day in oil shutdown: minister – Roya News English

Libya is losing tens of millions of dollars a day from the shutdown of its oil facilities, while global prices are at their highest in years, the country's oil minister told AFP.

Oil is the lifeblood of the North African country trying to move past a decade of conflict since the fall of Moamer Kadhafi in a 2011 NATO-backed uprising. But since mid-April Libya's two major export terminals and several oil fields have been held hostage to the country's latest political schism.

"Production has fallen by about 600,000 barrels a day," half of the previous level, Minister of Oil and Gas Mohammed Aoun said in an interview with AFP at his office in Tripoli.