The National Oil Corporation (NOC) announced in a statement on Friday that the revenues of crude oil and derived products reached 347.1 million dollars during the months of September and October of this year, showing a downward compared to the same period during 2019 as the revenues reached 3.7 billion dollars.
NOC recorded a slight increase in revenues during October, after the status of force majeure was lifted at the port of Al-Harika and Brega, in addition to the resumption of exports as of September 24th.
NOC’s Chairman Mustafa Sanallah expected a significant increase in revenues during the months of November and December, as a result of the gradual resumption of oil operations.
Sanallah also cautioned that the NOC is facing challenges represented in the lack of funding that it needs, which affects the maintenance of regular production levels, according to the statement.
