The National Oil Corporation announces the revenues of October 2021

The National Oil Corporation (NOC) announces that the net revenues for the month of October 2021 are US$ 1,907,660,046.91 from sales of crude oil, gas, condensate, petroleum products and petrochemicals.

Crude oil revenues amounted to $1,853,176,198.98, while gas and condensate revenues amounted to $34,318,773.80. Meanwhile, the National Oil Corporation achieved net revenues in petroleum products at $18,186,629.55, petrochemicals revenues amounted to $1,978,444.58, and euro revenues reached exactly $3,935,191.04.

In this regard, Mr. Mustafa Sanalla commented: The rise in revenues for the second month in a row is a "positive indicator", and the current price rates enable us to achieve the best available revenues. I am optimistic about the future of the Libyan economy for the coming months, but its continuation is linked to the condition of the stability of the oil sector in all respects and this leads me to say that "I cannot talk today about revenues in isolation from the politicization of the oil sector by an inoperative ministry."

Sanalla added, "Mr. Mohamed Aoun must realize that he is leading an inactive ministry by his own will and the local and international public opinion is well aware of the role of NOC contrary to what is being said on the Ministry's page. He must also be aware that receiving fuel smugglers and allowing them to enter with heavily armed vehicles to the headquarters of the National Oil Corporation, in which the ministry temporarily occupies some offices, is rejected but also documented."

We remind him that "the Public Prosecutor's Office is aware of all violations and every report is properly documented."

In a related context, Sanalla affirmed that NOC is represented by its management and employees, and despite all this absurdity, it still believes that the public interest requires sacrifice, self-denial, and healing wounds for the sake of the higher interest represented in maintaining regular production and exports and securing revenues for the public treasury. The inactive minister is continuing to resist and ignore the decisions of the Council of Ministers and the administrative control and others, forgetting that the law cannot be exercised selectively.

The Chairman of the Board of Directors concluded this statement by saying, "These attempts will not discourage our firm determination to move forward in contributing to building a state of institutions, the rule of law, and history will document the biography and the memoir. That's it."

It is reported that the revenues for the month of October do not include royalties and taxes, and NOC did not receive instructions from the Council of Ministers in this regard, despite numerous correspondences. This is in addition to the fact that shipments of crude oil were transferred to the Ubari station, which are charged to the General Electricity Company, and their value was recorded in September at US $19,343,774.18.

Moreover, Mellitah Oil & Gas Company was also supplied with quantities of crude oil for generating electric power, at a value of US $ 3,658,646.82, which were charged to the company to be settled later.

The National Oil Corporation continues to announce oil revenues in all transparency, in line with its principles of disclosure and transparency, which it has always been pursuing since January 2018.

God bless Libya!

National Oil Corporation

November 30, 2021

Tripoli, Libya

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