Libya’s November oil revenues US$ 700 million, up 204 percent on October

By Sami Zaptia.

London, 7 December 2020:

Libya’s state National Oil Corporation (NOC) announced on Saturday that exports of crude oil, gas and condensate, petroleum products and petrochemicals for the month of November amounted to US$ 700,421,887.47 with an increase of 204 percent from last October. This compares with revenues of US $ 1,660,115,142.09 for November 2019.

The NOC also reported that the previous years’ debts of US $ 37,542,524.00 had been collected from the Oil Investment Company and that the NOC’s entire revenues are kept in its accounts at the Libyan Foreign Bank (LFB), including the entire operations and subsequent settlements (partners and rights of others).

The NOC said that it has always published all data related to oil revenues on a monthly basis since January 2018 in order to ensure the application of the principle of transparency.