Libya’s Oil Revenues Reach $14.3 B

Libya’s Oil Revenues Reach $14.3 B

Libya has achieved a total of $14.3 billion (LYD 20.2) in oil revenues during the first eight months of the year, as shown by the most recent data of the Central Bank of Libya (CBL), Reuters reported.

Oil revenues accounted for around 92.66% of the total government income during the eight-month period from January to August 2019.

It is worth noting that during H1 2019, Libya’s crude oil revenues decreased by 11.2% to around $10.2 billion during in the first six months of the year, then making about 92.8% of the Libyan total public income.

Libya plans to increase oil output from its existing fields to reach 1.4 million barrels per day (b/d) by the end of 2019 and 2.1 million b/d by 2023, according to the National Oil Corporation (NOC).



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