In their scheduled announcement of revenues garnered in February, Libya’s National Oil Cooperation disclosed the profits made from the sales of crude oil and its derivatives and revisited the possibility of unfreezing oil revenue funds in the Libyan foreign bank. The NOC reiterated that the amount was deposited into the account of the National Oil Corporation at the Libyan Foreign Bank in Tripoli, in line with the temporary arrangement to ensure the transparency of oil revenues and spending. Sanalla also added that the NOC looks forward to working with the newly appointed minister of oil and gas to expand and improve on Libya’s resources and capabilities. The NOC also added that the revenues made in the time since the lifting of the force major in late 2021 until March 10, 2021, amounted to 7,767,439,801.73 US dollars. It concluded by asserting that it will continue to disclose the detail of every dirham made in Libyan oil and gas in keeping with its valued principle of transparency from January 2018 until this day.

Source: Libya Today March 14, 2021 20:37 UTC