98% of the Libyan state budget is directly generated from oil sales
Libya generated 23 billion USD sales in 2021 from oil sales. (Image: Risk Intelligence)
THE INSIGHT:
•Libyan oil sector resilient and able to operate under difficult conditions
•98% of Libyan state budget, with 23 billion USD sales in 2021
•Periodic instability leads to export stoppages
•Political factions prevent exports to put pressure on their adversaries
•Instability driven by militia-based politics
•Instability also driven by labour movements against harsh conditions and irregular pay.
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