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Saudi Economy Minister, World Economic Forum President Discuss Preparations for WEF Special Meeting

The Saudi Minister of Economy and Planning and the World Economic Forum discussed the preparations for the WEF Special Meeting. SPA
The Saudi Minister of Economy and Planning and the World Economic Forum discussed the preparations for the WEF Special Meeting. SPA
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Saudi Economy Minister, World Economic Forum President Discuss Preparations for WEF Special Meeting

The Saudi Minister of Economy and Planning and the World Economic Forum discussed the preparations for the WEF Special Meeting. SPA
The Saudi Minister of Economy and Planning and the World Economic Forum discussed the preparations for the WEF Special Meeting. SPA

Saudi Minister of Economy and Planning Faisal bin Fadhil Alibrahim and World Economic Forum President Børge Brende have held a meeting to discuss the preparations for the World Economic Forum Special Meeting to be held in the Kingdom in April.

They also discussed global economic issues.

Riyadh will host the WEF Special Meeting on global cooperation, growth and energy, on April 28-29.

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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)

The Libyan oil export port of Hariga has stopped operating due to insufficient crude supplies, two engineers at the terminal told Reuters on Saturday, as a standoff between rival political factions shuts most of the country's oilfields.

This week's flare-up in a dispute over control of the central bank threatens a new bout of instability in the North African country, a major oil producer that is split between eastern and western factions.

The eastern-based administration, which controls oilfields that account for almost all the country's production, are demanding western authorities back down over the replacement of the central bank governor - a key position in a state where control over oil revenue is the biggest prize for all factions.

Exports from Hariga stopped following the near-total shutdown of the Sarir oilfield, the port's main supplier, the engineers said.

Sarir normally produces about 209,000 barrels per day (bpd). Libya pumped about 1.18 million bpd in July in total.

Libya's National Oil Corporation NOC, which controls the country's oil resources, said on Friday the recent oilfield closures have caused the loss of approximately 63% of total oil production.