The National Oil Corporation (NOC) announced Wednesday that September revenue from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts, had reached over 1.66 billion US dollars.
NOC added in a statement that this constitutes a rise of nearly 93 million dollars from last August figures.
"Libyan natural gas is now predominantly produced and delivered through the coastal pipeline to feed the local market, with remaining quantities sent for export." The NOC remarked.
NOC indicated that it publishes monthly oil and gas revenues to enhance transparency and build public trust.
"Audited transparency must become the norm for the entire public sector and government departments, thus ensuring the fair distribution of oil revenues across the country." NOC further added.
It also said that it advocates for economic transparency to be embraced as the main principle for future stability, and any lasting political settlement.
Libya's oil revenue has increased over the last months as prices of crude experienced a hike and as Libya reopened long-shut oil terminals.
World Monetary Fund said Tuesday that Libya lost about 50 billion dollars in the last four years due to decreased oil output.
The fund expected that Libya's economic growth could go backward to 10.8% in 2019 compared to 10.9% in 2018 after reaching 64% in 2017.
