The National Oil Corporation (NOC) has recorded an income of 1.87 billion USD from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts last April – a monthly increase of approximately 340 million USD (+22%).
Revenue figures were bolstered by a rise in global crude oil prices, in addition to a busy crude loading schedule at the end of March, the NOC said in a statement on Sunday.
NOC chairman Mustafa Sanalla commented on current operational challenges: “NOC’s five-year strategy and focus remain on increasing production and national oil revenues. The corporation has mitigated many conflict-related risks and maintained production through the implementation of a robust operational and crisis response plan.
“The situation, however, remains extremely volatile. Protracted conflict will undoubtedly disrupt national operations, either directly, or via a security vacuum that extremists take advantage of – as demonstrated by the Zellah terrorist attack. The corporation is already experiencing logistical difficulties regarding supplies and our ability to rotate shift workers. NOC reaffirms its call for an immediate cessation of hostilities and condemns all attempts to militarize national energy infrastructure,” added the chairman.
