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Al-Kabir & Ordeman Discuss Increasing Libyan Oil Production

July 8, 2023
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On Friday, the Governor of the Central Bank of Libya (CBL), Al-Siddiq Al-Kabir met with the Chargé d’Affaires at the US Embassy to Libya, Leslie Ordeman.

During a meeting held in Tunis, the two sides discussed the “comprehensive plan of disclosure and transparency” launched by the CBL.

The meeting also discussed the “monthly statement of public revenue and expenditure, the formation of a higher financial committee to enhance transparency, joint efforts to support the National Oil Corporation (NOC), and gas production.”

According to a statement by the CBL, the two reviewed the Supreme Council for Energy Affairs’ plan to increase oil and electricity production, the partnership with USAID to support Libyan institutions and the success of the CBL’s plan to provide cash liquidity in all regions of Libya.

On Tuesday, the United States Special Envoy to Libya, Richard Norland expressed his satisfaction with the “positive debate generated among Libyan leaders regarding the distribution of the country’s oil revenues.”

In a recent statement, Norland highlighted that this issue has been one of the underlying causes of conflict in Libya. He praised the efforts of the Presidential Council, Libyan Parliament, Government of National Unity (GNU), and other stakeholders in establishing a transparent and accountable revenue management mechanism.

“The US has consistently supported Libyan-led efforts to resolve this issue,” Norland stated, saying that “no foreign actors should control it.” He noted that “there has been real progress between relevant institutions in recent days and encouraged leaders to reach an agreement.”

Norland stated that “this is an opportunity to build trust, address legitimate concerns about corruption, and ensure that the vast revenues from Libya’s ongoing oil production benefit all Libyans.” He welcomed the opportunity to “exchange views with Libyan leaders on this important aspect of Libya’s future.”

Notably, 70 MP’s have expressed their rejection of the recent statements made by Norland. In his statement, he called for abstaining from using oil as a political weapon, due to its economic and political consequences.

Tags: Central BankCentral Bank of Libya (CBL)libyaOil Production
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