National Oil Corporation Statement on Revenues
The National Oil Corporation (NOC) is pleased to announce, as it approaches record levels of oil and gas production in Libya—contributing to economic stability and growth—that it is publishing a detailed report of bank transfers related to oil sales revenues. In line with its commitment to transparency, the report covers transfers from NOC accounts to the Central Bank of Libya (CBL) from January 2024 to November 25, 2024, totaling $14,362,184,278 across 21 transactions.
The report confirms that NOC has never delayed the transfer of these revenues and has not, under any circumstances, been a cause or obstacle to the disbursement of public sector salaries. In fact, NOC has consistently ensured that funds are transferred ahead of scheduled payment dates in most cases.
The NOC also noted that the recent decline in oil revenues was not due to any delay or failure on its part but was the result of the Central Bank crisis and the subsequent shutdowns, as well as the earlier halt in production at the Sharara oil field.