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Oil and gas brings more than $1.9 billion to Libya in October

Libya’s revenues from oil and gas production totaled 1,907,660,046.91 US dollars in October, the National Oil Corporation (NOC) said on Wednesday.

The production growth was seen in all major categories, including crude oil, gas, condensate, petroleum products and petrochemicals.

Mustafa Sanalla, Head of the NOC expressed his optimism about the future of the Libyan economy, as he welcomed the increase in sales for the second month in a row.

According to the NOC data, crude oil revenues stood at $1,853,176,198.98, gas and condensate at $34,318,773.80, and petrochemical sales at $1,978,444.58, while the total sale of petroleum products amounted to $18,186,629.55.

The NOC head accredit the rise of revenues to the stability in the oil sector, although he did emphasize that the continuation of growth is linked to the stability of the oil industry in all aspects.

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