By Sami Zaptia.
London, 7 June 2021:
Libya’s state National Oil Corporation (NOC) revealed last week that its net revenues in April 2021 from the sales of crude oil, gas, condensates and petrochemical by-products reached record levels of US$ 1,303,515,244.34 and Euros 6,221,424.18.
These breakdown into:
Crude oil sales: 1,246,925,644.12 U.S. dollars
Gas and condensates sales: 53,973,431.64 U.S. dollars
Petrochemical by-products sales: 2,616,168.58 U.S. dollars and 6,221,424.18 Euros,
On releasing the figures, NOC chairman Mustafa Sanalla, stated that the NOC is looking forward to operating the polyethylene plant during the coming weeks, which will add substantial value to the national economy, as it will contribute to providing raw materials for the transformation industries which are currently being imported from overseas markets. It will also increase the revenues from polyethylene sales which are priced at international prices.
The NOC pointed out that the crude oil deliveries to the Ubari Power Station are charged to the General Electricity Company of Libya (GECOL), which were estimated during April amounting 19,898,933.18 U.S. dollars.
Mellitah Co. has also been supplied with crude oil for electricity generation purposes, which value amounted to 1,276,933.50 U.S. dollars to be settled later.