Libya Urged to Reduce Dependence on Oil Amid Price Fluctuations
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Libya Urged to Reduce Dependence on Oil Amid Price Fluctuations
Libyan economic experts have renewed calls for comprehensive economic diversification, warning that the country’s continued dependence on oil revenues leaves it highly vulnerable to fluctuations in global energy markets and undermines long-term economic stability. In press statements to the Libyan News Agency, economists said that oil remains the backbone of Libya’s economy and the primary source of government revenue and foreign currency. As a …
The situation in the United States and Iran in the Middle East remains unstable, making crude oil supplies unpredictable. As a result, pharmaceutical companies in Tokyo have begun reviewing their use of petroleum-derived raw materials. Interest is growing in companies that do not rely on petroleum-derived raw materials and have established environmental considerations. Experts say that "replacing them with domestically sourced materials is a ste…
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