Blockades Loom Again as Libya Seeks Global Oil Investment ...Middle East

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Blockades Loom Again as Libya Seeks Global Oil Investment
source : OILPRICE ( Middle East ) () 39
Given that around 97% of its government revenues come from oil, it might seem obvious to all Libya’s principal factions that increasing production is a very good idea. There is plenty of scope to do so, as before the removal of long-time leader Muammar Gaddafi in 2011 it had easily been able to produce around 1.65 million bpd of predominantly high-quality light, sweet crude oil. Additionally positive back then was that production had been on a rising trend, up from about 1.4 million bpd in 2000. Further increases were on the horizon to push…

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