|14 January, 2020

Libya's 2019 oil and gas revenue down 6% -central bank

Libya is divided between rival governments in Tripoli and the east

Image used for illustrative purpose. Pipes are pictured at Libya's El Sharara oilfield December 3, 2014.

Image used for illustrative purpose. Pipes are pictured at Libya's El Sharara oilfield December 3, 2014.

REUTERS/Ismail Zitouny

TRIPOLI- Libya’s oil and gas revenue in 2019 fell to 31.4 billion Libyan dinars ($22.49 billion) from 33.5 billion a year earlier, the central bank said in statement on Tuesday.

Libya is divided between rival governments in Tripoli and the east, where there is a parallel central bank, making accurate national data hard to obtain.

However, the central bank in Tripoli has retained control over oil revenue, which is routed through National Oil Corporation and accounts for the vast majority of Libya's income.

($1 = 1.3959 Libyan dinars)

(Reporting by Ahmed Elumami, writing by Amina Ismail; editing by Jason Neely) ((amina.ismail@thomsonreuters.com; +20 2 2394 8114;))

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