Libya’s NOC Sees Petroleum Revenues Top $2 Billion in July

Libya’s National Oil Corporation (NOC) announced that the net revenues for the month of July 2021 from sales of crude oil, natural gas, condensates, petroleum products and petrochemicals reached record levels, driven by strong demand and an increase in production and international prices. The country recorded a level of over $1.965 billion in crude oil revenue, followed by gas and condensates, which reached nearly $81 million.

Meanwhile, the National Oil Corporation achieved oil products net revenues of $3,379 million and petrochemicals revenues amounted to $2.794 million, for a grand total of all revenue streams of over $2.05 billion.

In this regard, NOC Chairman, Mustafa Sanalla, commented: “The Prime Minister informed me that he is determined to make a quantum leap in infrastructure maintenance in a way that ensures the achievement of the goals and aspirations of the Libyan people.”

Sanalla added, “We are working with the decision-making departments in the country on the path of modernization and development, and we are moving at a steady pace towards creating spatial development in the areas of oil fields and ports, and maintaining equipment and surface facilities that were destroyed by wars.”

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Source: PetroleumAfrica

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