Petroleum Africa
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Wednesday, January 28, 2015
Word out of the Libyan capital of Tripoli has the country’s daily oil production down to about 363,000 barrels; about one million barrels down from the country’s pre-civil war capacity.
The oil minister appointed by opposition forces in control of the capital Tripoli, MashallahZwai, told Reutersin an interview that oil revenues would fall to between $10 billion and $12 billion this year after collapsing to $15 billion in 2014 when Libya suffered a budget deficit of $19 billion.
The country’s output is severely constrained by the ongoing battles between Libya’s dual governments. Zwai is part of the government in Tripoli which is not recognized by the nations of the West or the UN
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