Libya Business News
Thursday, June 30, 2022
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Oil & Gas

Libyan Oil Revenues Up 23%

3rd September 2019
in Oil & Gas
Share on FacebookShare on Twitter

By John Lee.

The National Oil Corporation (NOC) has recorded July 2019 income of 2.1 billion USD from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts – a month-on-month increase of 403 million USD (+23%).

This month’s figures were inflated by a busy crude loading schedule at the end of June resulting in cargo receipts both arriving and clearing in July’s revenue statement.

NOC chairman, Eng. Mustafa Sanalla commented:

“In spite of month-on-month growth, Libya’s oil sector remains vulnerable to security shocks. Two separate security incidents on the Sharara pipeline lowered revenue receipts.
 
“Oil and gas revenues contribute over 92% of Libya’s budget. This has been achieved despite less than 58% of our annual requested budget being approved and received.

"Libya’s energy sector and security infrastructure must be appropriately financed to ensure it is insulated from the ongoing conflict and can continue to fund basic services across the country.”

NOC publishes monthly revenue reports, in accordance with its good governance policy and international transparency standards.

(Source: NOC)

Tags: featuredNational Oil Corporation (NOC)oil exportsoil revenues

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.