Libya’s oil and gas revenues fall by 30 percent in January-NOC

TRIPOLI: Libya’s oil and gas revenues dropped by 30 per cent to $1.6 billion (Dh8.88 billion) in January compared to December, the state oil firm NOC said on Tuesday.

On Monday, NOC lifted force majeure, a contractual waiver, on Libya’s largest oilfield El Sharara after almost three months of closure by an armed group and tribesmen.

NOC said the closure had “a significant impact on oil revenues.”

— Reuters