The Financial Express

Libya's oil, gas revenues top $4.0b in Nov, Dec

| Updated: January 17, 2022 17:18:35

File photo File photo

Libya's revenues of oil and gas exports in November and December reached record high, exceeding 4 billion US dollars, the country's state-owned National Oil Corporation (NOC) said on Friday.

"... the net revenues for the months of November and December of the year 2021, for sales of crude oil, gas, condensate, petroleum and petrochemical products have reached record levels, driven by a boom in prices around the world, where the net revenues during the two months amounted to 4,321,675,360.58 US dollars," the NOC said in a statement, reports Xinhua.

NOC Chairman Mustafa Sanalla called on the Libyan authorities to provide more funds to the corporation to execute vital projects, in order to increase productivity and achieve self-sufficiency.

Libyan daily oil production has dropped recently by 500,000 barrel per day due to maintenance works in some oilfields, as well as previous shutdown of oil production by the Petroleum Facilities Guard in other oilfields, according to the NOC.

During a meeting with the Petroleum Facilities Guard on Monday, Libyan Prime Minister Abdul-Hamid Dbeibah issued instructions to immediately reopen major oilfields.


Share if you like