Lower output, higher revenues collected in September
LIBYA – Libya’s oil production fell in September, while revenues collected and transferred to the sovereign account at the Libyan Foreign Bank rose, according to an economic report by the Italian news agency Nova.
Output falls from 43.31 million to 40.23 million barrels
The report, followed and summarised by Al-Marsad, said production fell from 43,310,000 barrels to 40,230,000 barrels, which it described as an overall decrease of 7.1%.
It added that the decline was about 4% compared with August, with average daily output falling from 1,397,000 barrels to 1,341,000 barrels.
A shorter month weighs on the figures
The report noted that September’s shorter length compared with the previous month had exaggerated the apparent fall in total output.
Transfer figures
Transfers in September, the ninth month of the year, amounted to $2.863 billion, compared with $2.555 billion in August, the report said.
It said the funds had risen by about 12.1%, equivalent to $308 million.
Shares for Libya and partner companies
According to the report, Libya’s share of its oil for domestic use stood at 31,335,399 barrels, compared with 8,980,109 barrels for partner companies.
