Sarraj Meets with NOC, CBL and LIA for Oil Sector Needs – Al Marsad

The Chairman of the Presidential Council, or rather what is left of it, Fayez al-Sarraj, held a meeting on Wednesday to address oil requirements with the heads of the CBL, NOC and the LIA

[Libya, 22 August 2019] – According to the Presidential Council’s media office, the Government of National Accord (GNA) meeting was attended by the GNA Planning Minister, Al-Taher Al-Juhaimi, GNA Minister of Finance, Faraj Bou Matari, Governor of the Central Bank of Libya, Tripoli, Siddik Al-kabir, the president of the Libyan National Oil Corporation, Mustafa Sanalla, the Head of the Libyan Audit Bureau, Khaled Shakshak, and the Chairman of the Libyan Investment Authority, Ali Mahmoud.

This meeting tackled investment in the oil sector, the economic lifeline of the country, and looked into plans to efficiently develop this field in order to generate financial revenues. They argues that this could revive the various sectors of the national economy and improve the quality of public services, in addition to supporting the implementation of development and reconstruction projects throughout the Libyan territory.

An extensive debate took place as on the allocation of additional funding to the National Oil Corporation (NOC) in order to implement this programme.

According to the GNA media office, the setting of a corporate budget for the NOC is to enable it to boost production, increase exports, and better fulfil its comprehensive missions of producing, exploring, refining and transporting crude oil and oil products, in addition to executing development plans in the future.

© Al Marsad English. 2019.