Libyan Oil Corporation says petroleum revenues dropped during Jan.

0 Comment(s)Print E-mail Xinhua, February 14, 2020
Adjust font size:

TRIPOLI, Feb. 13 (Xinhua) -- The state-owned National Oil Corporation (NOC) of Libya's UN-backed government on Thursday said that the country's petroleum revenues during January have dropped compared to the revenues of December 2019.

"National Oil Corporation (NOC) reported that January 2020 revenues were approximate 1.77 billion U.S. dollars, a decrease of 418 million dollars compared with December 2019 revenues, and an increase of 10.4 percent compared with January last year," NOC said in a statement.

The revenues come from sales of natural gas, crude oil and assorted derivative products, in addition to taxes and royalties received from concession contracts, NOC said.

"We'll see this to a much greater degree in February's revenues, which will reflect the blockades that still continue and have forced us to stop production," said NOC Chairman Mustafa Sanalla.

Tribal leaders in eastern Libya recently closed oil ports, accusing the UN-backed government of using oil revenues to support armed groups against the eastern-based army.

According to NOC, suspension of oil exports due to the closure of the oil fields and ports has cost loss of nearly 1.4 billion dollars so far, and has caused drop of daily crude oil production from more than 1.2 million barrels per day to less than 200,000 barrels per day. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from