The National Oil Corporation announces April 2020 revenues
The National Oil Corporation announces that it has achieved severely low revenues amounting to the value of (50,525,596.43 million USD) only.
as revenues from crude oil, gas and condensers for the April 2020, marking a sharp and significant decline in revenue and a severe decrease of about 97% compared to what was achieved in April 2019, which is estimated at (1,620,380,524.61 billion dollars), in revenue which is the most severe decline in income for this year
As the value of petroleum products also declined, marking (zero) revenues for the second month in a row. This income decline is due to the continued illegal closings of the fields, oil refineries and production units
Also, natural gas production rates declined in April 2020, due to the illegal closure of Sidi Al-Syeh, valves which have incurred additional costs and financial burdens on the public treasury to provide alternative fuels (liquid fuel) for operating electric power plants
Eng. Mustafa Sanalla, declared in this regard, saying: The Libyan state continues to mark significant losses in daily oil and gas production for the fourth month in a row, as a result of the unjust blockades and illegal closures of the sources of oil production from fields and export ports by criminal groups whose only concern is to make Libya a failed state and on the verge of bankruptcy, and will increase the suffering of the Libyan citizens, in addition to the impact of these closings on the technical and environmental side, which will cost the National Oil Corporation large sums to maintain oil pipelines and infrastructure that is already collapsing, and the National Oil Corporation will not be able to restore its production capacity Even after the unjust siege is lifted and production is re-enabled
Hence, the National Oil Corporation renews its imploring for all to take responsibility and come to reason, and spare Libya the threat of bankruptcy and fear “God” Almighty and this and the overpowered people who have suffered and are still suffering, and we are taking the initiative to reopen the fields and ports oil, and to resume production to alleviate the daily suffering of the Libyan citizen
Therefore, the National Oil Corporation renews its permanent desire to put all numbers and statistics regarding production based on the principle of transparency, which it committed itself in order to preserve the wealth of the Libyan people, and also reaffirms that its role is limited to transferring oil sales revenues to the Central Bank of Libya, while the Ministry of The Finance determines spending according to the approved budget, and the National Oil Corporation, like other sectors, is awaiting the liquidation of its budgets allocated to it by the government.
May God protect Libya
National Oil Corporation