Libya’s state National Oil Corporation (NOC) said on Wednesday that it has achieved severely low revenues amounting to the value of (50,525,596.43 million USD) only.

As revenues from crude oil, gas and condensers for the April 2020, marking a sharp and significant decline in revenue and a severe decrease of about 97% compared to what was achieved in April 2019, which is estimated at (1,620,380,524.61 billion dollars), in revenue which is the most severe decline in income for this year.

As the value of petroleum products also declined, marking (zero) revenues for the second month in a row. This income decline is due to the continued illegal closings of the fields, oil refineries and production units

Also, natural gas production rates declined in April 2020, due to the illegal closure of Sidi Al-Syeh, valves which have incurred additional costs and financial burdens on the public treasury to provide alternative fuels (liquid fuel) for operating electric power plants

Mustafa Sanalla, declared in this regard, saying: “The Libyan state continues to mark significant losses in daily oil and gas production for the fourth month in a row, as a result of the unjust blockades and illegal closures of the sources of oil production from fields and export ports by criminal groups whose only concern is to make Libya a failed state and on the verge of bankruptcy, and will increase the suffering of the Libyan citizens, in addition to the impact of these closings on the technical and environmental side, which will cost the National Oil Corporation large sums to maintain oil pipelines and infrastructure that is already collapsing, and the National Oil Corporation will not be able to restore its production capacity Even after the unjust siege is lifted and production is re-enabled.”