January 11, 2019 / 3:07 PM / 6 days ago

Chad sacks oil minister in government reshuffle

N’DJAMENA (Reuters) - Chad’s President Idriss Deby on Friday dismissed Oil Minister Boukar Michel and named Finance Minister Mahamat Allali Abakar as his temporary replacement, a government decree showed.

Chad produces around 130,000 barrels of oil per day and received more than $1 billion in oil-backed loans from Glencore (GLEN.L) and four bank lenders in 2014.

It struck a deal with its creditors to restructure that loan last year after government revenues crashed due to low oil prices.

Reporting by Madjiasra Nako; Writing by Sofia Christensen; Editing by Aaron Ross and Alison Williams

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