NOC reports record high $1.4 billion revenue for January

Alwasat - Cairo Sat 27 Feb 2021, 12:06 AM
alwasat radio

Libya's National Oil Corporation announced that the overall revenue for the month of January, from sales of crude oil, gas, condensate, petroleum products and petrochemicals, reached record levels, at $1.4 billion.

These amounts were "deposited into the National Oil Corporation's account with the Libyan External Bank, in line with the current interim arrangements," the company said in a statement today.

Mustafa Sanalla, chairman of the board of directors, said that the company "struggled" in various areas of its operations over the past months to achieve this income but increasing production rates at record times.

He stressed, however, that NOC did not receive fuel allocations for January and February 2021, respectively, and that NOC continues to finance the operation of the country's vital facilities with special arrangements with banks, and "reserves its full right to hold accountable official entities that have breached their duties and obligations."


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