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Libyan oil revenues fall to zero

Christian Fernsby ▼ | February 11, 2020
Libya's vital oil revenues fell to zero in January, the central bank said on Monday, after forces and tribesmen allied to eastern commander Khalifa Haftar blocked major oil ports.
Khalifa Haftar
Energy in Libya   Khalifa Haftar
The oil shutdown has caused losses exceeding 2.5 billion Libyan dinar ($1.78 billion), the Tripoli based central bank also said in a post on its Facebook page.

Topics: Libya oil

The bank said it had not paid out any public salaries last month. The bank mainly works with the Tripoli government but also pays some public salaries in eastern Libya controlled by Haftar.

The biggest source of income in January was a fee on hard currency transactions which brought 2.319 billion dinars, the bank said. Taxes generated 53 million dinars and customs duties 8 million dinars.