On Sunday, the National Oil Corporation (NOC) of Libya announced that total revenues from oil and gas sales for July reached 1.839 billion Libyan dinars.
The figures, published on the NOC’s official Facebook page on Sunday, reflect receipts collected in the state’s sovereign account from oil and gas sales invoices issued during the month.
The announcement included three detailed tables showing the distribution of revenue generated from crude oil and natural gas exports.
Separately, the Ministry of Oil and Gas also reported that royalties and taxes collected from companies operating under concession and production-sharing agreements amounted to 1.705 billion dinars for July.
According to the Ministry, oil royalties collected during the month totaled 106.5 million dinars, while gas royalties stood at 27.6 million dinars—amounting to a combined total of 134 million dinars in royalties.
Additionally, tax revenues were significantly higher, with 1.444 billion dinars collected from crude oil and another 127 million dinars from natural gas operations, totaling 1.571 billion dinars in tax proceeds.
These figures underscore the continued importance of the oil and gas sector as Libya’s primary source of revenue. The country’s economy remains heavily reliant on hydrocarbon exports, which finance the majority of government operations and public services.
With global oil prices fluctuating and Libya targeting increased production levels, transparency in revenue reporting remains crucial for public accountability and investor confidence. The NOC has emphasized its commitment to publishing monthly revenue figures as part of its efforts to maintain transparency in the energy sector.
Despite ongoing political divisions and the presence of rival governments in the east and west of the country, Libya has managed to maintain relatively stable oil production in recent months, averaging between 1.3 and 1.4 million barrels per day.
