What New Measures Has Libya’s National Oil Corporation Taken?

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Sanalla NOC Libya

The Libyan National Oil Corporation (NOC) announced the merger and appointment of the (previously) parallel corporation’s employees into the NOC and its subsidiaries.

The NOC’s Chairman, Mustafa Sanalla, commented on this decision, saying that, “since its adoption, the Government of National Unity (GNU) has been keen on unifying all the economic institutions of the Libyan state and has given this issue special attention. It took some time to work on this goal, and today we are ending the era of division in the oil sector. We issue a decision appointing, integrating and merging all affiliates in the parallel corporation (previously).”

He added that “the NOC maintained its unity during years of division and has acted impartially for the benefit of the Libyan state. It was an example to be emulated internally and externally due to its great role in Libya’s unity and the safety of its economy from collapse.”

Sanalla stated that, “we hope that everyone realizes the importance of this sector and that it continues to work in an effective manner as usual, away from polemics that will only harm the country.”

He elaborated that, “the oil sector represents a top priority in the concerns of the GNU Prime Minister due to the sensitivity of this vital sector and its great role in preserving Libya’s economy from collapse. Therefore, there is complete consensus between the Prime Minister and the NOC. We agree that it is necessary to preserve the unity of the sector, keeping it away from disputes, pouring all our attention to attract investment, with the goal of increasing production and achieving huge returns to the Libyan state treasury to strengthen the national economy.”