Lost oil revenues ‘cost’ Libya $30 billion: Central Bank

TRIPOLI - Reuters

Libya has lost $30 billion due to 10 months of protests at oilfields and export terminals but has sufficient foreign currency reserves to keep the country running, a central bank official said June 6.

A wave of protests at oil facilities has reduced the North African country’s oil output to less than 200,000 barrels a day down from 1.4 million bpd in July before the strikes started.

“The damages the state has now suffered after more than 10 months, Libya has lost not less than $30 billion,” Musbah Alkari, director of the central bank’s reserves department, told Reuters.