(MENAFN) According to the National Oil Corporation announcement on Saturday, Libya’s support of oil and gas exports increased its profits to over USD21.5 billion in 2021, the biggest record in five years.
Based on the state-run NOC statement, overall net revenues for oil and gas exports the previous year stood at USD21.5 billion and 30 million euros in non-dollar sales.
It stated record rates were attained in November and December, increasing a joint USD4.3 billion in the two final months of last year.
NOC chief Mustafa Sanalla stated, “the end of the year 2021 recorded a recovery, and oil prices achieved their largest annual gains since 2016, driven by the recovery of the global economy from the state of stagnation” because of Covid-19.
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