Libya’s Oil Sector Finally Getting Enough Funding, Minister Says
- New oil minister says money allocated in budget is adequate
- People in Libya have had enough of fighting, Mohamed Oun says
Source: AFP/Getty Images
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Libya’s energy industry is on track to get enough money from the government for the OPEC member to sustain its crude production throughout the year, according to the new oil and gas minister.
The country, which has been in civil war for about a decade, swore in its first unity government in about seven years this month. Politicians also approved a budget that allocates $1.6 billion -- the biggest portion of development spending -- to the state oil company.