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National Oil Corporation reveals revenue for December 2020 .

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 Tripoli, 24 January, 2021 (Lana) - The National Oil Corporation (NOC) announced that the general revenue for the month of December for the year 2020 from sales of crude oil, gas, condensate, oil products and petrochemicals has reached record levels.  

The National Oil Corporation explained, through its official Facebook account, that revenues reached $ 1,115,210,431.95.

The National Oil Corporation indicated that the revenues were deposited into the account of the National Oil Corporation at the Libyan Foreign Bank, in line with the temporary arrangements currently in place.

It indicated that these revenues do not include taxes and royalties, in addition to that there are payments for natural gas purchases for the local market from the partners of the Oasis Oil Company, which amounted to $ 13.6 million. "The National Oil Corporation, its companies and employees in its various areas of operations over the past months have struggled to achieve this income by increasing production rates in record times," said the chairman of the board of directors of the corporation, Mustafa Sanallah.

The exports of January will decrease due to reducing the production of the Oasis Company by 200 thousand barrels per day, until the end of the maintenance work, Sanalla added.

 The Chairman of NOC stated that the maintenance teams are seeking to reduce the expected period to minimum limits, and this is all in spite of absence of budgets related to the maintenance of the Corporation’s assets, which will negatively affect the revenues of this month.

He stressed that despite the confusion and bureaucracy of some decision-making circles in the country regarding the disbursement of the urgent budgets that are still pending until now, the National Oil Corporation will deal with the challenges based on its sense of responsibility towards the public.