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FinancialNews


  • 02-09-19

    23 percent surge in Libyan NOC revenues

    (MENAFN) Revenues of the Libyan giant National Oil Corporation (NOC) registered a 23 percent month-on-month jump to stand at USD2.1 billion during the seventh month of this year.

    NOC explained that this boost is driven by a hike in the volume of crude oil shipments by the end of June 2019, when revenues reached USD1.73 billion.

    However, "Libya's oil sector is still vulnerable to setbacks mainly related to the deteriorating security situation inside the country," affirmed NOC chief Mustafa Sanallah.

    Sanallah further added that the sabotage incident which affected El Sharara oil pipeline "has significantly reduced revenues."

    MENAFN0209201900450000ID1098953328

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