Libya’s oil revenue in 9 months of 2019 hit 22.7 billion dinars

BY Libyan Express Oct 10, 2019 - 20:15

The Libyan oil output has reached over 1.3 bpd. [Photo: Libyan Express]

Libya’s oil revenues reached 22.7 billion Libyan dinars ($16.09 billion) in the first nine months of the year, the Central Bank of Libya said on Wednesday.

The Tripoli-based CBL listed total government spending for the same period at 29.26 billion Libyan dinars, exceeding total revenues of 24.57 billion.

The CBL did not give comparative figures for the previous year.

Last month, the central bank said that Libya earned 20.2 billion Libyan dinars in oil revenue in the first eight months of the year.

Libya’s internationally recognised Tripoli-based Government of National Accord (GNA) said last week it had allocated 1.5 billion Libyan dinars for (NOC) to maintain oil production in 2019-2020.

Libya’s current oil production is around 1.3 million barrels per day, according to the NOC.

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