Tag Archives | oil revenues

Libyan Oil Revenues Collapse

The National Oil Corporation (NOC) has reported February 2020 revenues of approximately USD 555 million ($555,533,750.97), a decrease of around $1.21 billion USD (68.6%) on January 2020 revenues. The February figure is also a decrease of around $708 million (56%) compared with February last year. NOC's revenues come from sales of natural gas, crude oil […]

Austerity Measures due to Blockade of NOC Facilities

By John Lee. The National Oil Corporation (NOC) has said that it has implemented austerity measures due to what it described as the "continued illegal shut down of facilities". The corporation said it is yet to receive its 2020 budget  after more than 70 days of the new year which will force it and its […]

Oil Revenue Losses approach $2bn

By John Lee. This official notice summarises the situation across Libya for the oil and gas sector. Please beware of disinformation regarding the current fuel situation published by non-NOC sources. Please treat this report as the only source of accurate and updated information. Libya's National Oil Corporation (NOC) has said the production, transportation and supply […]

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 […]

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 ofaround 167million 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 […]