Tag Archives | oil revenues

Port Blockage Costs Libya $1bn in Lost Oil Revenues

By John Lee. The National Oil Corporation (NOC) has announced a drop in production as a result of the blockade of ports and pipelines to the current level of 135,745 b/d, as of  Monday February 17, 2020, with losses exceeding 1 billion USD  at  1,616,886,132 USD. The NOC renews its call for all blockades to be lifted to allow the corporation to resume production […]

19% Drop in Libyan Oil Revenues in January 2020

By John Lee. The National Oil Corporation (NOC) has reported  January 2020 revenues of approximately  1.77  billion USD ($1,768,879,320.49),  a  decrease  of  around  418  million USD (19% ) on  December 2019 revenues and an increase of around 167 million USD (10.4%) compared with  January last year. NOC’s revenues come from sales of natural gas, crude oil and assorted […]

Libyan Oil Revenues Fall Year-on-Year

23% gain in revenues in December from November; total 2019 revenues 8.4% down on 2018 The National Oil Corporation (NOC) reported December 2019 revenues of approximately 2.2 billion USD ($2,186,488,241.19), an increase of around 405 million USD (23%) on November 2019, mostly due to an increase in the oil price of around 5.42 USD per […]

October Oil/Gas Revenues up 21%

By John Lee. Libya’s National Oil Corporation (NOC) reported October 2019 revenues of approximately 2.2 billion USD, an increase of 381 million USD (21%) compared to September 2019 revenues. NOC’s revenues come from sales of crude oil, hydrocarbon liquids and oil and petrochemical derivative products, in addition to taxes and royalties received from concession contracts. […]

Libyan Oil & Gas Revenues Down 11% in September

By John Lee. Libya’s National Oil Corporation (NOC) reported September 2019 revenues of approximately 1.8 billion USD, a decrease of 223 million USD (11%) compared with August, and an increase of 150 million USD (9%) compared with September last year. NOC’s revenues come from sales of natural gas, crude oil and assorted derivative products, in […]

NOC warns of Sharp Decline in Oil Production

By John Lee. The National Oil Corporation (NOC) has warned that Libyan oil production may fall precipitously over the next nine months if the government continues to withhold already approved budgets. NOC recorded August 2019 revenues of approximately 2 billion USD, a decrease of 117 million USD (5%) compared with July, and an increase of […]

Libyan Finances Ahead of Plan for Jan-Aug Period

By John Lee. Libya’s total revenues were 1.1 billion Libyan dinars ($800 million) ahead of budget for the first eight months of the year, according to a statement from the Central Bank of Libya (CBL) on Monday. Oil revenues were 2.6 billion dinars ahead at 20.2 billion dinars, with all other revenue sources being below […]

Libyan Oil Revenues Up 23%

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 […]