No Result
View All Result
Thursday, October 16, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libya to generate $54.9 billion from oil & gas in 2012, says NOC

byAl Russell
September 3, 2012
Reading Time: 1 min read
A A

Tripoli, 3 September:

Libya will generate $54.9 billion in revenue from oil and gas this year, roughly equivalent to 68.7 billion Libyan . . .[restrict]Dinars, according to a statement from the National Oil Corporation (NOC).

This figure was first suggested in March, when it was announced that the country’s annual budget was set at $55.3 billion, and would therefore be heavily reliant on the forecasted $54.9 billion in oil revenue.

It has been predicted based on an output of 1.35 million barrels per day, at an average price of $100 per barrel.

The recent reopening of the Ras Lanuf Oil refinery will have a considerable impact on helping oil output to return to pre-revolutionary levels. When operating at full capacity, the refinery is thought to account for 58 per cent of the country’s oil output. Having reopened less than a week ago, the plant is currently running at half capacity. [/restrict]

RELATED POSTS

CBL signs cooperation agreement with World Bank within Reserves Advisory and Management Programme (RAMP)

“Enhancing the Interaction between Finance and Entrepreneurship” workshop held in Misrata

Related Posts

CBL receives results from meetings with international banks
Business

CBL signs cooperation agreement with World Bank within Reserves Advisory and Management Programme (RAMP)

October 16, 2025
Business

“Enhancing the Interaction between Finance and Entrepreneurship” workshop held in Misrata

October 16, 2025
CBL receives results from meetings with international banks
Business

CBL and IMF discuss pivotal role played by the CBL to get Libya out of its decades-long crisis

October 16, 2025
Economic Conference on Diversifying Sources of Income held in Tripoli
Business

Economic Conference on Diversifying Sources of Income held in Tripoli

October 15, 2025
LBC leading delegation to Miami for America’s Food and Beverage Show – 18 to 20 September
Business

LBC to hold virtual workshop with IsDB on export mechanisms and access to international markets

October 15, 2025
Use of card and e-payments on the increase – helping to resolve Libya’s bank cash liquidity problem
Business

Traders warned of failure to use e-payments ahead of clampdown by Municipality Guards

October 15, 2025
Next Post

New president of Benghazi Local Council announced

Congress hastily reverses earlier decision on members’ pay

Congress hastily reverses earlier decision on members' pay

libyaherald-Ads

Top Stories

  • Atletico Madrid win Benghazi’s Reconstruction Cup after beating Inter Milan 4-3 on penalties – great political showpiece for Hafter

    Atletico Madrid win Benghazi’s Reconstruction Cup after beating Inter Milan 4-3 on penalties – great political showpiece for Hafter

    0 shares
    Share 0 Tweet 0
  • Emirates Airlines security delegation visits Tripoli to begin Mitiga Airport inspection tour

    0 shares
    Share 0 Tweet 0
  • After its withdrawal from circulation of certain banknotes, CBL reveals that currency printed unofficially in Russia totalled to 6.5 billion dinars

    0 shares
    Share 0 Tweet 0
  • IOM identifies 894,890 migrants in Libya from 45 nationalities in May-July 2025 reporting period – 18 percent up on 2024

    0 shares
    Share 0 Tweet 0
  • National Oil Corporation discusses prospects for technical cooperation with America’s Halliburton

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

CBL signs cooperation agreement with World Bank within Reserves Advisory and Management Programme (RAMP)

“Enhancing the Interaction between Finance and Entrepreneurship” workshop held in Misrata

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.