Libya's oil revenues hit $1.322 billion in May

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Libya's oil revenues hit $1.322 billion in May

June 28, 2021 - 11:20
Written by: SafaAlharathy

Oil revenues for Libya reached record levels last May, as they recorded 1.322 billion dollars in crude oil and 53 million dollars in gas and condensates, the National Oil Corporation (NOC) announced on Sunday.

The corporation said that net revenues for the month of May from sales of crude oil, gas, condensate, petroleum products, and petrochemicals reached record levels, driven by strong demand and an increase in international prices.

Commenting on the statements issued by the NOC, the head of the corporation Mustafa Sanalla, stressed the need to maintain stable production rates and work to increase them.

"We are optimistic about the general trend of oil prices and expect to achieve an excess of income by the end of this year," Sanalla said.