Thursday, January 16, 2014 8:12 am
Libya oil revenues fall short of 2013 projections
By ESAM MOHAMEDAssociated Press
Deputy Minister for Oil and Gas, Omar Shakmak, announced on state television Thursday that proceeds from Libyan crude yielded a little less than $40 billion, less than the projected $ 50 billion for 2013. The loss was mainly in the second half of the year when a militia in eastern Libya shut down major oil terminals, declaring itself an autonomous government and demanding a share of the revenues.
In recent weeks, the militia has attempted to sell oil independent of the central government. The government has threatened it would take action against companies cooperating with the renegade group.