Libya’s NOC says it banked $1.8bn in oil and gas revenues for September bringing the total to $15.4bn for the first nine months of 2021, already some 160% up on the 2020 full year figure of $5.9bn. The steep rise is due to a relatively smooth year of oil production. Crude and condensate exports averaged a nine-year high 1.13mn b/d in the first nine months of 2021, according to data intelligence firm Kpler. Higher oil prices are helping too, of course.
But Libya’s oil recovery is at risk from multiple directions (MEES, 27 August). Tensions in the oil sector have returned with oil minister Mohammed Aoun earlier this month suspending NOC head Mustafa Sanalla for the second time since August over alleged procedural offenses (MEES, 3 September). Mr Sanalla is ignoring the order. (CONTINUED - 194 WORDS)