Libya oil shutdown is a ‘bullet in the head’

Libya oil shutdown is a ‘bullet in the head’
Libya oil shutdown is a ‘bullet in the head’

We show you our most important and recent visitors news details Libya oil shutdown is a ‘bullet in the head’ in the following article

Hind Al Soulia - Riyadh - TRIPOLI — Libya’s Central Bank Governor Sadiq Al-Kabir called on the international community to help end a week-long shutdown of oil ports by eastern military commander Khalifa Haftar, likening the closures to a “bullet in the head.”

It is too early to assess the damage from the blockade that’s halted crude exports from the OPEC country and forced the National Oil Corp. to declare a force majeure on supplies, Kabir said in an interview on Bloomberg Television. The shutdown comes after a year of economic growth and reforms in the war-torn country, which sits atop Africa’s largest oil reserves, he said.

Haftar, the commander of the Libyan National Army (LNA), crippled oil production and closed ports last weekend while haggling over a truce with the national government. One of the LNA’s main demands has been the removal of Kabir and a fairer distribution of oil revenues to support the historically marginalized eastern part of the country.

Kabir denied there is spending disparity. “A fair distribution is there, he said, adding that the bank issues regular reports on its finances. Oil accounted for 93 percent of state revenues and 70 percent of spending, with a large portion going to public salaries,” he said.

Kabir said he would be willing to step down if legal conditions in a 2015 United Nations political deal were met.

The country has two rival governments, each controlling a parallel central bank and national oil company.

“We hope that there will be support from the international community to resume the production and export of oil, in a quicker way,” Kabir said. — Al Arabiya English

These were the details of the news Libya oil shutdown is a ‘bullet in the head’ for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Hamas in Gaza 'strikes deal to reduce violence'