The central bank is burning through its foreign reserves and many government services are being cut as Libya reels under the effects of a collapse in oil revenues caused by factional fighting that threatens to tear the country apart.
Breaking News
A fire raging for almost a week at Libya's biggest oil port of Es Sider has destroyed up to 1.8 million barrels of crude and damaged seven storage tanks, causing total damage of $213 million, a top oil official said on Tuesday.
An oil field in southwest Libya has closed down, officials said on Sunday, becoming the third oil facility in the chaotic country to shut within a week.
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