Closure of oil fields cost Libya $70 billion, Audit Bureau says

The Libyan Audit Bureau has issued its 2015 report in which it showed that Libya has lost over 70 billion dollars (98 billion dinars) due to the shutdown of oil ports and fields since August 2013.

The Audit Bureau report has shown how badly the stoppage of oil production has affected Libya at all levels and has plunged the country into a financial and cash crisis since the start if 2026.

Worth mentioning that Libya is oil-dependant country as it relies in all its budget on the oil sales revenue. Yet, this reliance came to an end since 2013 when the fields and ports got shut down and taken over by Ibrahim Jordan, who claims s to be guarding them until a new government can provide security to the companies working in the fields.