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National Oil Corporation reveals revenues for February 2021.

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Tripoli, 15 March, 2021 (Lana) - The National Oil Corporation announced that the general revenue from sales of crude oil and its derivatives in February of 2021 recorded a level of $ 1,235,710,353.98. The Foundation clarified in a statement on its website that the revenues were deposited into the foundation's account at the Libyan Foreign Bank in Tripoli, in line with the temporary arrangements in place, which ended with the formation of the government of national unity, which won the confidence recently.

The National Oil Corporation indicated that the cumulative total of withheld oil revenues since the lifting of the status of force majeure until the date of March 10, 2021 amounted to $ 7,767,439,801.73, including the rights of partners and the rights of the corporation, and does not include royalties and taxes. And confirmed that it will continue to announce every dirham of financial proceeds, in line with the principle of disclosure and transparency that it has followed from January 2018 to this day.

On the other hand, the head of the National Oil Corporation congratulated "Mustafa Sanallah" in a comment published by the media office of the Libyan People’s Foundation on the occasion of the national unity government gaining confidence from the Libyan Parliament, hoping that it will be the beginning of a new phase that achieves the hopes and aspirations of the Libyan nation. Sanallah added: “I was honored today to meet the Prime Minister with the Government of National Unity, Abdul Hamid Muhammad al-Dabaiba, at its headquarters in the capital, Tripoli, and his speech was clear and frank in his support for the National Oil Corporation and its subsidiaries in order to achieve its goals of increasing production and achieving greater revenues to support National economy.

He stressed that the National Oil Corporation is looking forward to working with the Ministry of Oil and Gas and expanding the capabilities of the Libyan oil resources. He added that the sovereign role represented in chairing the Minister of Oil and Gas, Engineer Muhammad Aoun, the Libyan delegation to OPEC in ministerial meetings and in other international forums, is important and vital. The Prime Minister, Abdul Hamid Al-Dabaiba, instructed to start building a stock of liquid fuel in power stations, desalination of drinking water and fuel distribution stations in all NOC warehouses in the various regions of the country, in preparation to meet the increasing consumption during the blessed month of Ramadan and alleviate the suffering of all citizens in every country.