Libya’s National Oil Corp (NOC) had net revenue of $21.6 billion in 2021, with $4.3 billion in net revenue during November and December, it said in a statement over the weekend.
Oil prices were “expected to continue to rise unless the market fundamentals change and global investment upstream and downstream increases,” NOC chairman Mustafa Sanallah said in the statement.
He added that Libya’s oil sector would have little ability to invest and modernise its infrastructure because of low budgets.
The company’s media office also said total current oil output was 1.045 million barrels per day.
Photo – EPA/MOHAMED MESSARA
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