VOL. XXXIII

NO. 25

26-MARCH-1990

Libya

NOC Budgets $3 Billion for FY1990/91

Libya's Basic People's Conference approved earlier this month theannual budget for the National Oil Corporation (NOC) for Fiscal Year 1990/91 (1April 1990-31 March 1991) amounting to a total of LD909.925mn (equivalent to$3.08bn at the current exchange rate of LD1.00=US$3.3909). Last year's budgettotaled LD847mn, with around 85% of it being actually spent. Among the upstreamgoals targeted for FY1990/91 are: shooting of...