Libyan Oil Minister Accuses Sanalla of Economic Crisis

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Libyan Minister of Oil and Gas, Mohamed Aoun said that the actions of Mustafa Sanalla, the former Chairman of the National Oil Corporation (NOC), have caused disasters for the oil industry.

In press statements, Aoun added that Sanalla’s actions were in violation of the law, and caused countless economic problems.

“A memorandum was directed to the Attorney General to investigate the payment of royalties by foreign companies, which were seized by Sanalla. The foreign companies were directed to pay, but such royalties did not go to the Libyan Foreign Bank (LFB). This caused the loss of LYD 10.900 billion in profits. This matter is clear in the 2021 report of the Central Bank of Libya (CBL), and we addressed the Administrative Control, the Audit Bureau, and all the regulatory bodies in Libya,” Aoun said.

He noted that Sanalla “did not abide by the laws regulating the oil sector. The powers are considered specific and clear, and no two sane people would dispute them, according to Oil Law 25 of 1955.”

Aoun stressed that he agreed to increase the field bonuses, but Sanalla did not respond to the instructions of the Ministry of Oil, and the decision was not implemented. He explained that the new chairman of the NOC, Farhat Bengadra will be briefed regarding the matter. The decision is expected to be implemented soon, with the salaries for August.