Libya’s state National Oil Corporation (NOC) announced Saturday that the general revenue for December 2020 of sales of crude oil, gas, condensates, petroleum products and petrochemicals have reached a record level of US$ 1.1 bn (1,115,210,431.95).
It said the amount is deposited in its Libyan Foreign Bank (LFB) account in line with the ‘‘current arrangements’’.
The ‘‘current arrangements’’ refers to the political agreement, the Maetig-Hafter agreement for the resumption of oil production/exports. This agreement entailed that Hafter would lift the oil blockage imposed by Hafter/allies in return for the revenues being frozen in the NOC’s LFB account until political agreement is reached on a number of issues including the equitable distribution of Libya’s oil revenues.
The NOC pointed out that these revenues do not include taxes, royalties, and payments have been made for natural gas purchases to the domestic market from Waha Oil’s partners, which amounted to 13.6 U.S. million dollars
