Tag Archives | oil revenues

Libya breaks 2018 Monthly Oil Revenue Record

The National Oil Corporation (NOC) declares that October income from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts, was 2.87 billion USD – the highest year-to-date monthly total of 2018. This represents an increase of 1.21 billion USD (+73%) from the September figure. 2018 total projected […]

September Oil Revenue up 5.6%

The National Oil Corporation (NOC) has announced that September income from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts, was just over 1.66 billion USD – a rise of nearly 93 million USD (+5.6%) from August figures. It should be noted that Libyan natural gas is […]

Oil Revenues Fell Sharply in August

The National Oil Corporation (NOC) has declared that monthly oil and gas revenues for August were just over 1.57 billion USD – a drop of nearly 455 million USD from the previous month. The fall in August revenue is attributable to the continued state of ‘force majeure’ in the first half of July at the […]

Libya on track for Highest Oil Revenues since 2013

The National Oil Corporation (NOC) has announced year-to-date revenue for 2018 (January to the end of July) of 13.6 billion USD. Notwithstanding the recent Gulf of Sirte crisis and other national operational challenges, NOC 2018 year-to-date revenue has already eclipsed the 2017 total (13 billion USD). Should the corporation be allowed to continue its work […]

Sirte, Hariga Blockade Costing Libya $67m/day

National Oil Corporation (NOC) chairman Mustafa Sanalla has met with the new US Charge d’Affaires to Libya, Mr Joshua Harris. Mr Harris took up the post succeeding Ms Stephanie Williams, who was appointed by the United Nations Secretary-General Antonio Guterres as Deputy Special Representative for Political Affairs in Libya. The two parties discussed recent events […]

Libya loses over $145m due to El Feel Closure

By John Lee. The National Oil Corporation (NOC) has said that Libya has lost over $145 million since the closure of the El Feel [El Fil, Elephant] field on a month ago. Xinhua quotes a senior official as saying: “Al-Fil oil field, which produces more than 70,000 barrels of oil per day, is still closed […]

$31bn Budget for 2018

The public budget in Libya for 2018 has been set at around 42.5 billion Libyan dinar ($31 billion dollars at official bank rates). Oil revenue is expected to reach 22.5 billion dinars in 2018 while taxes and customs tariffs are expected to hit 2.5 billion. There is also an alleged 5.5 billion dinar surplus from […]