NOC announces 20% increase in oil sales during March

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NOC announces 20% increase in oil sales during March

April 28, 2019 - 10:10
Written by: SafaAlharathy

The National Oil Corporation (NOC) announced a 20 per cent increase in oil sales and its derivatives during the month of March compared to February.

"Crude oil sales and its derivatives, as well as tax revenues and royalties from the concession contracts,  have exceeded $ 1.5 billion, an increase of about 270 million US dollars," NOC confirmed.

The company attributed the increase to the lifting of force majeure from the Sharara oilfield on March 4, 2019, after ending a three-month forced closure by an armed group.