Libya’s oil revenues fell by 19 percent from October to stand at US$1.8 billion in November 2019, the country’s National Oil Corporation (NOC) said , attributing the decline to the lower oil prices last November. Compared to November 2018, Libya’s oil revenues plunged by 25 percent this past November, due to the lower oil prices and bad weather, the Libya Herald reports, citing data and statements from NOC. Year to date to November 2019, oil revenues in one of Africa’s largest oil producers exceeded US$20 billion and stood at US$20.3 billion. “Overall, despite adverse conditions, NOC is on track to hit its production increase and revenue generation targets, with oil and gas condensate production volumes consistent at 1.23 million b/d in November, compared to 1.22 million b/d in October,” NOC’s Chairman Mustafa Sanalla said, as quoted by Libya Herald. Since Muammar Gaddafi was toppled in 2011, Libya has been […]