Tripoli: The National Oil Corporation (NOC) has reported oil sales and royalties revenue amounting to $1.99 billion for March. The corporation announced that this substantial amount was achieved through its operations in the oil sector during the month.
According to Libyan News Agency, data released by the NOC detailed the oil and gas production figures, revenues, and budget for March 2026. Total oil production reached 40,430,388 barrels, with Libya's share constituting 31,346,644 barrels. The partners' share was 7,901,423 barrels, and 7,408,352 barrels were designated for export.
The NOC explained that crude oil exports accounted for 27,158,339 barrels, while 3,773,197 barrels were refined, and 415,108 barrels were supplied to power plants in Ubari and Mellitah. This resulted in a total production figure of 77,518,600 barrels for the month.
In terms of gas production, the corporation reported 73,554.8 units available for consumption, with 52,995.3 units used. Additionally, the amount of acidic and low-pressure hydrocarbon gases amounted to 12,533 units.
The corporation further disclosed that $1,993,175,222.37 was transferred, equivalent to 852,759,149.672 Libyan dinars. It highlighted that the value of fuel import credits through the Libyan Foreign Bank would be deducted from this amount as per the signed agreement, resulting in the transfer of a remaining balance of $1.394 billion to the Central Bank of Libya.
The NOC also noted that the budget allocation for the first chapter, which includes salaries, totaled 327,792,250 Libyan dinars, while the second, third, and fourth chapters recorded no allocations for the period.