The Address | Benghazi – Libya
TRIPOLI – September income from sales of Libyan crude oil and derived products, in addition to taxes and royalties received from concession contracts, was just over 1.66 billion USD – a rise of nearly 93 million USD (+5.6%) from August figures, National Oil Corporation (NOC) declared on Thursday.
It should be noted that Libyan natural gas is now predominantly produced and delivered through the coastal pipeline to feed the local market; with remaining quantities sent for export, NOC pointed out.
NOC publishes monthly oil and gas revenues to enhance transparency and build public trust. Audited transparency must become the norm for the entire public sector and government departments – thereby ensuring the fair distribution of oil revenues across the country. NOC advocates for economic transparency to be embraced as the principal ingredient to future stability, and any lasting political settlement, according to NOC.