Libya’s National Oil Corporation (NOC) has announced revenues totalling $1.093 billion in March, according to a press release.

Oil exports dropped 92.3% and oil products also decreased to zero in March as a result of refineries being forced to shut down. Concerning natural gas, the rate of production decreased by 200 million cubic feet (mcf) after the shutdown in the region of Sidi Sayeh.

NOC Chairman Eng. Mustafa Sanalla commented: “the low revenue will simply delay further any government investment in public services, the national economy, and the foundations of future prosperity for Libya.”

All revenues made by NOC are transferred to the Central Bank of Libya and from there the budget is distributed to the NOC.