The new board of directors of the National Oil Corporation, headed by Farhat Bengdara, held its first meeting at the Corporation's HQ in Tripoli on Sunday.

The first meeting was joined by Prime Minister Abdul Hamid Dbeibah, Minister of Oil and Gas, Minister of Finance, Minister of Planning, and the directors of the technical departments of the Corporation and the General Petroleum Syndicate.

The meeting comes a week after Bengdara was appointed as Chairman of the NOC's Board of Directors, replacing its former chairman, Mustafa Sanalla.

Upon his appointment last week, Bengadara announced the end of the oil blockade after talks with leading tribe figures from the Oil Crescent in Benghazi.

Today, the Chairman of the National Oil Corporation Farhat Bengdara, signed a memorandum of understanding with the Norwegian company Equinor . This memorandum aims to study and evaluate the oil and gas potential in the Libyan maritime region. The signing took place at the Presidential Office in the capital, Tripoli, and also includes plans to train young national personnel in the oil and gas sector



The New Board of Directors of the NOC


Libya's oil revenues hit $5 billion in 2Q 2023

Libya's net revenues from crude oil, gas, and petrochemical oil sales surpassed $5 billion in the second quarter of 2023, a National Oil Corporation bulletin said on Sunday.

The NOC noted that net revenues for April, May, and June totaled 5,460,000, with crude oil sales accounting for over $4,681,566.

Moreover, oil products generated $196,50,278 in revenue during the same period, followed by gas and condensate at $121,905,795 and petrochemical at $1,931,11.

The total revenues for the second quarter of this year were distributed as follows: $1,686,000,000 in April, $1,661,000,000 in May, and $1,653,000,000 in June.

In May, the National Oil Corporation disclosed that crude oil revenues in the Corporation's accounts at the Libyan Foreign Bank amounted to $1.57 billion during the month.

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