Al-Mnifi: Libya’s Oil Sector Issues Must Be Resolved


The Head of the Libyan Presidential Council, Mohamed Al-Mnifi stressed the importance of solving the issues surrounding the oil sector. He added that “this field is of great importance to Libyans, as it is the main resource for the national economy.”

On Tuesday, Al-Mnifi participated in the Extraordinary Oil Budget Follow-up Committee meeting, in the presence of Prime Minister Abdel-Hamid Dbaiba.

Al-Mnifi praised the role of the committee, and their efforts to increase production rates, despite the difficulties they face.

The meeting, which was held at the Cabinet headquarters, discussed the work plan, observations, and recommendations made by the committee to follow up on the exceptional oil budget. As well as to identify the most important problems and obstacles facing the oil sector.

The meeting was attended by the Chairman of the Finance, Planning, and General Budget Committee in the Libyan Parliament; Omar Tantoush, the Heads of the Audit Bureau and Administrative Control Authority; Khaled Shakshak and Suleiman Al-Shanti, the Governor of the Central Bank of Libya (CBL); Al-Siddiq Al-Kabir, the Minister of Finance; Khaled Al-Mabrouk, the Minister of Oil and Gas; Mohamed Aoun, and the Head of the National Oil Corporation (NOC); Farhat Bengadra.

On Monday, Aoun said that the actions of Mustafa Sanalla, the former Chairman of the NOC, have been disastrous 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 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 Bengadra will be briefed regarding the matter. The decision is expected to be implemented soon, with the salaries for August.