Guards spark Libya oil crisis

A blockade by guards at Libyan oil terminals has sent production plunging to fewer than 100,000 barrels a day in a major blow to the economy. The guards, many former rebels who helped topple Muammar Gaddafi (pictured) in 2011, have been on strike since July, accusing authorities of corruption by selling crude in excess of documented cargo. The government said the guards have been trying to sell oil on the black market.

By InvestSMART · 4 Sep 2013

By InvestSMART ·
4 Sep 2013

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A blockade by guards at Libyan oil terminals has sent production plunging to fewer than 100,000 barrels a day in a major blow to the economy. The guards, many former rebels who helped topple Muammar Gaddafi (pictured) in 2011, have been on strike since July, accusing authorities of corruption by selling crude in excess of documented cargo. The government said the guards have been trying to sell oil on the black market.

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Guards spark Libya oil crisis

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