fbpx

LIBYA: NOC Reports Lowest Crude Oil & Gas Sales Revenue in 2020

The National Oil Corporation (NOC) reported crude oil, *gas (propane and butane)* and condensates export revenues of US$45.5 million for June, the lowest recorded this year down from US$87.7 million in June and US$50.6 million in April. No revenues were earned from oil products sales for the sixth month in a row.
Falling production led to this large drop in revenues as refineries, oilfields and ports were shut down as a result of the ongoing blockade which NOC has referred as illegal. The revenues of *gas (propane and butane)* and condensates sales also suffered a sharp decline in June with the average monthly revenue falling to US$ 8,99 million, the lowest this year.
NOC Chairman Eng. Mustafa Sanalla commented: “The Libyan state continues to suffer heavy losses in its daily oil and gas production for the sixth month in a row. The illegal oil blockade has had disastrous effects on our national economy and damaged the living standards of Libyans. Our reservoirs are suffering permanent damage, and stagnant fluids are corroding our pipelines, which will cost us huge amounts to repair. We urge all Libyan parties to do everything possible to restart oil production as soon as possible to avoid further damage”.
To date the 2020 gross income stood at $36.1 billion .
Meanwhile NOC has continued to say it is deeply concerned about the continuing militarization of its oil facilities and the heavy presence of foreign mercenaries at various oil fields and ports in the east and south of the country.

“The number of mercenaries at the Ras Lanuf petrochemical complex has recently increased. Their presence constitutes a threat to the safety of workers and industrial facilities within the complex. There are also a large number of military personnel billeted in worker housing inside the residential area of Ras Lanuf town, in a flagrant violation of the law, privacy and security of worker housing.”

%d bloggers like this: