Libya, oil and ISIS

Published on January 26, 2016 by   ·   No Comments
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Series of attacks by Islamic State militants has damaged oil terminals.

Libya’s oil guards accused of siphoning off country’s supplies for profit

Kim Sengupta

An armed force set up to protect Libya’s oil assets – the only effective source of income for the failing state – has been accused of siphoning off supplies and then abandoning facilities to advancing Isis fighters, actions that have resulted in almost $60m (£42m) revenue being lost.

The Petroleum Facilities Guard (PFG), a group about 27,000-strong meant to be bipartisan in a country with two rival governments, has become the “biggest obstacle to raising money from the industry and a hindrance to forming a unified government”, according to the head of Libya’s National Oil Corporation (Noc).

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Source: timesofindia.indiatimes.com

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