The Libyan National Petroleum Corporation achieves record revenues during December 2020


direct: The National Oil Corporation in Libya announced that it achieved record levels of one billion, 115 million and 210 thousand dollars, from revenues from selling crude oil, gas, condensates, oil products and petrochemicals, during the month of December.

The Corporation said in a statement on its Facebook page, today, Saturday, that these revenues will be deposited into the account of the National Oil Corporation with the Libyan Foreign Bank, in line with the temporary arrangements currently in place.

The Corporation explained that these revenues do not include “taxes and royalties”, and that there are payments made regarding natural gas purchases for the local market from the partners of the Waha Oil Company, which amounted to $ 13.6 million.

Mustafa Sanallah, Chairman of the Corporation’s Board of Directors, said that the Corporation “struggled” with its companies and employees in its various areas of operations over the past months, to achieve this income by increasing production rates in record times.

He pointed out that the exports of the month of January will decrease because of the reduction in production of the Waha Company by 200 thousand barrels per day, until the end of the maintenance work.


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