Libyan oil sector loans have risen to 6.5 billion dinars, according to the state-run National Oil Corp. (NOC) financial committee.
The disclosure was made by the NOC Head Mustafa Sanalla on Thursday at an expanded meeting grouping officials of major oil companies, including Mellitah, Waha, and Akakos.
“Our role is to protect the oil sector from complete collapse,” Sanalla said.
He indicated that the internal debts of national companies came from the accumulation of salaries for five months with one of the service companies’ loans amounting to 250 million dollars.
Libyan oil production exceeded 1.3 million barrels per day in the past few months. According to the latest estimates, Libya’s net revenues from sales of crude oil, gas, condensate, and petrochemical products for the months of November and December 2021 hit a record high, exceeding four billion and 322 million dollars, driven by a surge in global demand.
