AFP, Tripoli :
Libya’s oil revenues have more than tripled in 2017 despite violence and political instability, according to figures released Friday by the central bank.
The backbone of the North African country’s economy, Libya’s oil sector collapsed in the wake of the 2011 NATO-backed uprising that toppled longtime dictator Moamer Kadhafi.
Oil output fell from 1.6 million barrels per day to less than 500,000 bpd between 2014 and 2016 due to violence around production facilities and export terminals as rival militias fought for control.
Libya’s oil revenues have more than tripled in 2017 despite violence and political instability, according to figures released Friday by the central bank.
The backbone of the North African country’s economy, Libya’s oil sector collapsed in the wake of the 2011 NATO-backed uprising that toppled longtime dictator Moamer Kadhafi.
Oil output fell from 1.6 million barrels per day to less than 500,000 bpd between 2014 and 2016 due to violence around production facilities and export terminals as rival militias fought for control.
