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  • 07-01-20

    NOC: Libya's oil profits exceed USD20 billion

    (MENAFN) Libya's oil profits in 2019 surpassed USD20 billion, according to Libya's state- owned National Oil Corporation (NOC).


    As said in a statement by NOC, "NOC's revenues come from sales of natural gas, crude oil and assorted derivative products, in addition to taxes and royalties received from concession contracts".



    Mustafa Sanalla, chairman of the NOC said that, "these revenues provide vital resources for the Libyan people and our continuity of supply contributes to global market stabilization".


    Libya's key source of revenue, the oil sector, has suffered a lot because of armed conflicts on its oil fields and ports.

    MENAFN0701202000450000ID1099516998

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