Fuel smuggling in Libya said to risk foreign investments

The major global investments made in Libya’s oil industry are said to be at risk by the sector’s link to corruption and smuggling, Maghrebi Week wrote on 24th November.

While Libya has seen big investments from these global oil giants, the entrenched corruption and fuel-smuggling that have cost the country nearly $20 billion are said to be threatening the glistening prospects of its oil industry.

Although commercial opportunities are still rife for Libya at this current moment, there is said to be a need for a global crackdown on these fuel-smuggling networks in order to help the country’s economic development thrive.

Maghrebi Week