The controversy around Libya’s oil revenues continues between the Central Bank of Libya (CBL) and the National Oil Corporation (NOC). While the Central Bank announces it has received 934 million dollars as of October 18, 2026, the NOC reports more than 1.44 billion dollars transferred to a sovereign account between October 1 and October 14. These figures fuel questions about the transfer channels and the accounting of petroleum revenues.
The Essentials
- 934 million dollars: petroleum revenues cumulatively actually received by the Central Bank from October 1 to October 18, 2026.
- 361 million dollars: amount reported by the Central Bank as of October 14.
- 1.448 billion dollars: revenues declared by the NOC as transferred to the sovereign account with the Libyan External Bank from October 1 to October 14.
- Distinct scopes: the two institutions do not necessarily describe the same accounts or the same steps in the financial circuit.
- A persisting disagreement: the published figures raise questions about the reconciliation of oil revenues.
The Central Bank reports 934 million dollars as of October 18
As part of its periodic communication on foreign exchange flows, the Central Bank of Libya specified that petroleum revenues actually credited to its accounts since the start of October had reached 934 million dollars as of Sunday, October 18, 2026.
The institution detailed the evolution of these revenues through three successive situations:
| Date d’arrêté | Recettes cumulées | Évolution |
|---|---|---|
| 14 octobre 2026 | 361 millions USD | Situation initiale publiée |
| 15 octobre 2026 | 577 millions USD | +216 millions USD |
| 18 octobre 2026 | 934 millions USD | +357 millions USD |
Source : Central Bank of Libya, figures released for October 2026. The variations between dates are TN calculations. The amounts presented are cumulative since October 1 and do not constitute daily revenues.
The Central Bank reaffirmed the accuracy of the amounts published for each of these dates. According to it, the differences between its successive communications are explained by the recording of new transfers.
The Central Bank clarifies the scope of its statistics
The Central Bank notes that its data cover exclusively the amounts actually received into its own accounts.
It specifies that its figures do not include revenues collected by other bodies and not yet transferred to its accounts, nor the value of oil exports and invoices whose proceeds have not yet been credited.
This distinction is important, because the value of exports, the revenues collected by different entities, and the funds credited to a given bank account do not necessarily correspond to the same financial indicator.
The Central Bank also praised the efforts of the National Oil Corporation and the Libyan Court of Auditors, highlighting the importance of cooperation between the concerned institutions to serve the national interest.
The NOC reports more than 1.44 billion dollars
On its side, the National Oil Corporation (NOC) published a table detailing the revenues received daily between October 1 and October 14, 2026 and transferred to the sovereign account opened with the Libyan External Bank, an institution under the Central Bank.
According to the data released by the NOC, these revenues total precisely 1,447,655,717.37 dollars, i.e., about 1.448 billion dollars.
This amount is considerably higher than the 361 million dollars that the Central Bank indicates it actually received in its accounts as of October 14.
More than a billion dollars of gap between the figures published on October 14
The comparison of the two amounts announced for the period from October 1 to 14 allows measuring the scale of their accounting divergence, without prejudging its origin.
| Institution | Period | Declared amount | Announced scope |
|---|---|---|---|
| Central Bank of Libya | 1–14 October 2026 | 361 millions USD | Amounts credited to its accounts |
| National Oil Corporation | 1–14 October 2026 | 1 447 655 717,37 USD | Revenues declared as transferred to the sovereign account with the Libyan External Bank |
The difference between the amounts published for this period amounts to 1 086 655 717,37 dollars, i.e., about 1.087 billion dollars.
This calculation measures only the gap between the two announced figures. It does not constitute an estimate of missing, diverted, or undeclared funds.
Indeed, the two institutions refer to different accounts and recording modalities. To establish a definitive accounting reconciliation, one would notably need the value dates of transfers, the details of transactions, and the entries recorded on the various accounts involved.
A dispute that rekindles questions about revenue management
The publication of divergent data has revived tensions around the monitoring of revenues from Libyan crude oil exports.
This situation raises questions about the mechanisms for centralizing revenues and the coordination modalities between the institutions responsible for their collection, transfer, and accounting.
Calls for judicial authorities to intervene were also mentioned in the context of this controversy.
At this stage, the figures made public are not sufficient to determine whether the divergence results from differences in accounting scope, transfer delays, or other factors. A documented reconciliation of the concerned operations would be necessary to establish the precise causes.
The central issue remains the alignment between the declared oil revenues, the funds transferred to sovereign accounts, and the amounts actually recorded in the Central Bank’s accounts.
