EU Ambassador: Oil Revenues Should Benefit All Libyans


The European Union’s (EU) Ambassador to Libya, Sabadell Jose stressed that the country’s oil revenues must continue and benefit all Libyans.

“In current exceptional circumstances, in Libya and globally, it is for Libyans to ensure that oil revenues continue and benefit all Libyans. Independence and neutrality of institutions like the National Oil Corporation (NOC) and the Central Bank of Libya (CBL), and open dialogue to define critical expenditures are needed,” the EU official stressed.

“At the same time, additional income from increased oil prices must be preserved to benefit future investments and contribute to stability and prosperity. An independent and well-resourced NOC and a unified CBL are indispensable,” he added.

“All this was discussed at a timely and forward-looking meeting in Tripoli of the Economic Working Group. Very good dialogue with both branches of CBL and Finance Ministry together with co-chairs the United Nations Support Missions in Libya (UNSMIL), the US Embassy in Libya and Egypt,” the Ambassador noted.

“We are looking forward to working with all actors ready to play a constructive role, based on dialogue and consensus, to ensure that economy becomes a driver for peace and that oil income is managed for the benefit of all Libyans and preserved from corruption or mismanagement.”

On Wednesday, Libya’s Minister of Oil and Gas, Mohamed Aoun stressed the need to respect public interests, and avoid the use of force.

Aoun’s statements came on the sidelines of his participation at a meeting entitled “Encouraging investment and enhancing the partnership with the private sector”.

“Our message is clear, that is, we support the realization of rights and achieving development in all parts of the Libyan state. Especially the need to preserve the country’s oil facilities, fields, and ports and avoid causing any kind of harm to them,” he added.

Aoun pointed out that there is no problem in importing the fuel necessary for the local market. The issue lies in the failure to provide enough vehicles for unloading oil vessels.

“Since I took up my duties as oil minister, I was one of the supporters of private investment, and I submitted several memoranda to the Prime Minister of the Government of National Unity (GNU) in this regard,” he claimed.

“With determination, we will be capable of carrying out projects through internal investments in the interest of the Libyan state, and in order to ease the burden on the public sector,” Aoun added.

He stressed that his ministry can encourage investment in the refining and petrochemical sector. As well as other industries that depend on oil products.