Libya’s National Oil Corporation has reported monthly revenues of $1.796 billion for September from oil and related product sales. The amount is a record for the company, the result of the latest oil price rally. “Everyone is happy,” NOC’s chairman, Mustafa Sanalla, said. “Production rates are wonderful, and the price boom is an important and encouraging sign. We expect a significant reduction in the deficit that the public budget has suffered for the last years, and we are optimistic that financial stability will contribute to creating an investment environment, especially in the infrastructure of the national oil sector.” The troubled North African country has struggled with a challenging political situation that has affected its oil sector, but it has managed to boost production to over 1 million bpd. The latest political trouble has come from a spat between NOC and the new government, which led to the suspension of […]