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Thank you for reading about the drop in oil and gas revenues in Libya in August and let's start with the latest details.
ABU DHABI – The country's oil and gas revenues fell by $ 1.5 billion in August, down $ 455 million from the previous month, the National Oil Corporation said Friday.
The company attributed the decline to the declaration of force majeure in the Red Crescent oil region after the end of hostilities, which led to the closure of Sidr and Ras Lanuf oil ports in June.
The company said its production was also affected by security problems in the Sharara field, attacked by gunmen in July, and kidnapped two workers, adding that September's revenue would return to "normal levels after the start of sales. and achieve target levels of production ".
National Oil Corporation (NOC) chief Mustafa Sannallah told Reuters on Wednesday that his country produces up to 1.3 million bpd of crude oil.
According to Reuters estimates, current production levels remain lower than those of the OPEC member before the civil war, which was about 1.6 million barrels a day, but production is at its highest level since the middle of 2013.
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