| Kippreport.com

Who makes a bundle from Libyan Oil?

March 2, 2011 1:43 by shafeer

Libya’s high-quality oil is the life blood of the country’s economy, and currently the opposition reportedly controls most of the oil fields.

While Libya only produces two percent of world oil production, 85 percent of that is sent to Europe. Kipp wonders where a lot of the country’s oil money has gone and we are not the only ones – check out this video.

Read more: Libyan revolt likely to leave deep scars on oil sector

Source: CNN

Tags: Libya, libya oil, Libya oil money, Libya oil production, libya uprising, Libyan oil, Libya’s high quality oil