Libyan Oil/Gas Revenues ~$50 Billion in 2012

Libya’s National Oil Corporation (NOC) announced on Sunday that the country has oil and gas revenue totalling $54.9 billion.

According to the report from Tripoli Post, the revenues are calculated based on an average daily oil production of 1.350 million bpd, at a price of $100 per barrel, although our quick calculation at LBN shows this to correspond to about $49.3 billion.

(Sources: Tripoli Post, Bloomberg)

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