Libya's National Oil Corporation (NOC) reported oil revenues at $13.6 billion in the January-July period.
Despite the recent crisis in Sirte Bay and other national operational challenges, the company's revenues since January have exceeded the total revenues of 2017 accounting for $13 billion, according to the Libya’s National Oil Corporation.
NOC expected total revenues to reach $23.4 billion in 2018, representing an annual increase of 80 percent.
In this context, Mustapha Sinallah, Chairman of NOC, stated that "I have repeatedly demanded equitable distribution in national oil revenues and called for more transparent Governmental bodies, because this problem is one of the most important problems facing our country", and he pointed out that "NOC has published data on monthly revenues in accordance with the key principles of the EITI Financial Reporting Standard, which is one of the principles of the EITI transparency initiative seeking to consolidate the transparency concept and expressing the keenness of NOC to be a model used by other Libyan institutions in assessing their performance."
Source (Al-Sharq Al-Awsat newspaper, Edited)
