Libyan oil production declines to 1.209 million bpd

Alwasat - Cairo Sat 07 Jan 2023, 11:54 PM
alwasat radio

Libya's National Oil Corporation (NOC) announced Saturday that its crude production has dropped to 1.209 million barrels from 1.230 million barrels, the latest production count revealed by the NOC on December 22.

The also NOC indicated that condensate production amounted to 47,000 barrels during the past 24 hours.

This comes days after the Central Bank of Libya (CBL) said Libya's oil revenues rose to 105.5 billion Libyan dinars ($22.01 billion) in 2022 from 103.4 billion libyan dinars in 2021.

The CBL added that also allocated 34.4 billion dinars for the NOC as "emergency and temporary financial arrangements".

The NOC is the country's only legitimate oil producer and all its export revenues flow through the CBL to finance the public sector. Both are based in Tripoli.

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