Libyan Rebels Seek $3.5 Billion in Aid as Oil Output Stops

Libya’s rebel government is seeking $3.5 billion to cover its budget for six months as sales of crude stopped after oil fields were destroyed, said Mahmoud Badi, the president of foreign investments and sovereign assets.

“Oil sales have been stopped because there has been an aggression on the oil fields and the producing fields were destroyed,” Badi said in an interview in Abu Dhabi yesterday. “We were only able to sell one cargo for $90 million to $100 million and after that we were not able to.”