Trouble for Libya's oil industry

As the battle for Libya intensifies, oil production has plummeted dramatically signalling trouble for the industry.


    As the battle for Libya intensifies, oil production in the country has plummeted.

    In the rebel-held east it's down by as much as 90 percent.

    The fighting means companies are reluctant to send ships into Libyan ports – and even if they do, it is not clear who they should pay: the Gaddafi government or the rebels.

    Both sides in the fighting say they will not target oil installations – but this has not been enough to protect the industry.

    The fighting in Libya has already pushed the oil price to a two and a half year high.

    And as unrest spreads across the region, the effects of the uprising in Libya are now being felt beyond it’s borders.

    Al Jazeera's Alan Fisher reports.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Thou Shalt Not Kill: Israel's Hilltop Youth

    Thou Shalt Not Kill: Israel's Hilltop Youth

    Meet the hardline group willing to do anything, including going against their government, to claim land for Israel.