No Result
View All Result
Thursday, July 10, 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 Libya

Libya’s March record oil revenues tip US$ 2 billion mark, NOC transfers US$ 2 to government account

bySami Zaptia
April 20, 2021
Reading Time: 2 mins read
A A

By Sami Zaptia.

(Logo: NOC).

London, 16 April 2021:

Libya’s state National Oil Corporation (NOC) announced yesterday that its March oil revenues reached a record US$ 2,052,178,786.17.

It attributed the increase of March sales to the fact that revenues for February reflected 28 days in the calendar, while the collection of the dues of the exported shipments takes place within thirty days, which gave an increase in the revenues of March compared to February.

NOC transfers from its Libyan Foreign Bank account US$ 2 bn to government account

RELATED POSTS

Libyan Fertiliser Company’s urea plant achieves a 95 percent production rate

Aldabaiba seeking long term partnership not interim solutions on combatting irregular migration

The NOC also confirmed that it had transferred US$ 2 bn to the sovereign’s account of which US$ 1,498,632,437,86 were from the revenues of the month of March, according to the instructions of Prime Minister Abd Alhamid Aldabaiba.

In this regard, NOC chairman Mustafa Sanalla, commented “The National Oil Corporation continues to settle part of these revenues with the financial obligations on their due date for the hydrocarbons of the first quarter of 2021, which was a result of the failure to reach an agreement between the Central Bank of Libya and the Ministry of Finance during the previous Government of National Accord, which delayed the liquidation of hydrocarbons allocations.”

Sanalla added, “The National Oil Corporation dealt with the challenges with special arrangements with the knowledge of the executive authority at that time, as well as the Attorney General’s office and the President of the Government of National Unity also was fully informed of the position.’’

The NOC pointed out that it has transferred US$ 5,883,719,900.87 to the Treasury account at the Central Bank of Libya, and the remainder of the public treasury rights to date is about US$ 1,074,911,840.00, while the value of US$ 79,264,419.94 constitutes the rights of NOC, and the amount subject to settlements with partners is US$ 2,334,149,253.86.

The NOC warned of the importance of dealing with the overdraft of the Libyan Foreign Bank because of the debts that have been rolled over for years and its return to the adoption of budgets rather than the proposals of the National Oil Corporation.

Tags: Abd Alhamid aldabaiba pm GNU Government of National UnityfeaturedLFB Libyan Foreign BankNOC National Oil Corporation

Related Posts

GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba seeking long term partnership not interim solutions on combatting irregular migration

July 10, 2025
Acting Interior Minister Trabelsi taking steps to counter forged ID numbers and passports
Libya

There are 4 million irregular migrants in Libya: Interior Minister Trabelsi

July 10, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba: Militias have become criminal gangs and a state within the state

July 9, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Libyan Russian Economic Forum starts in St. Petersburg
Libya

Libyan Russian Economic Forum starts in St. Petersburg

June 27, 2025
MoI establishes Elections Security and Protection Department
Libya

Aldabaiba and Menfi stress use of polling feedback to establish consensus basis for constitutional process: report and analysis

June 26, 2025
Next Post
The Libyan Tunisian Exhibition 23-25 May

The Libyan Tunisian Exhibition 23-25 May

UN Security Council passes two Libya resolutions: reiterates need for constitutionally based 24 December elections, 23 October ceasefire and withdrawal of all foreign forces and mercenaries

ADVERTISEMENT

Top Stories

  • Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement

    All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    0 shares
    Share 0 Tweet 0
  • A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

    0 shares
    Share 0 Tweet 0
  • Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

    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

Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

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.