Libya’s NOC says total oil sales reached $2.1 bln in July

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Libya’s National Oil Corporation (NOC) said its total oil revenues reached around $2.1 billion in July.

The amount included about $2 billion from crude oil sales and $81 million from the sale of gas and condensates, the government owned corporation said in a statement.

Oil products net revenues amounted to $3.4 million in July and petrochemicals revenues reached $2.8 million, the statement added.

“Sales … reached record levels, driven by strong demand and an increase in production and international prices,” it said.

Earlier this month, a pipeline leak reduced oil output in Libya by 60,000-70,000 barrels per day (bpd), the Oil Corporation said.

The North African country aims to reach a production level of 1.5 million bpd by the end of 2021.

Libya was producing 1.6 million bpd before a civil war erupted in 2011, battering its oil industry and slashing output to as little as 100,000 bpd last year. 

Photo: EPA/MOHAMED MESSARA