Libya Earns $21.56Bln, €30.10M from Oil in 2021

Libya’s total net revenue from oil and gas in 2021 amounted to $21,555,396,675.07 billion and €30,098,669.01, the National Oil Corporation (NOC) has said.

The NOC added that $2,275,850,786.95 in royalties and taxes were recorded since the lifting of force majeure in September 2020 until December 31, 2021. 

The amount, NOC said, was deposited in the account of the Ministry of Finance with the Central Bank of Libya, provided that royalties and taxes will be withheld in the coming months for the South Refinery and infrastructure projects in accordance with the decisions of the Council of Ministers in particular.

It added that Libya’s revenues from oil and gas exports in November and December reached a record high, exceeding $4 billion.

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“… the net revenues for the months of November and December of the year 2021, for sales of crude oil, gas, condensate, petroleum and petrochemical products have reached record levels, driven by a boom in prices around the world, where the net revenues during the two months amounted to 4,321,675,360.58 U.S. dollars,” the NOC said in a statement at the weekend.

NOC continues to announce oil revenues transparently in accordance with its principle of disclosure and transparency, which it has always adhered to since January 2018, and continues to follow today.

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