Saturday, September 6, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Libyan Oil Minister Announces Recovery of $2.4 Billion in Oil Sector Dues

January 4, 2024
Share on FacebookShare on Twitter

Libyan Oil and Gas Minister, Mohamed Aoun announced that Libya has successfully reclaimed approximately $2.4 billion dollars in state dues from foreign oil companies. These dues were previously held by the former Chairman of the National Oil Corporation (NOC), Mustafa Sanalla.

In an interview with “Attaqa” magazine, Aoun highlighted Libya’s strategic direction towards ceasing the burning of associated gas by 2025, and preparing to enter the hydrogen market after studying the feasibility of transporting and exporting it to Europe.

Aoun also elaborated on the increased demand for liquefied natural gas (LNG). He noted a memorandum of understanding, which has evolved into agreements with Italy, to establish an LNG plant in Libya, though there has been no progress yet.

The Minister attributed the halt in negotiations about the plant to Sanalla. He accused him of “political entanglements and reliance on foreign countries, which led to a neglect of important projects and agreements, especially those involving large gas quantities from both land and maritime fields.”

Aoun pointed out that “companies claimed insufficient security in Libya as a concern.” However, he noted that maritime operations continued far from any military activity. He criticized the British oil company, BP for not investing in the sea, and conducting their operations from a naval base in Tunisia or Malta.

Aoun denied any agreement signed by the Ministry with the South Korean company, STX for establishing an oil pipeline through the Egyptian port of Gargoub. He mentioned that the Egyptian Ministry of Petroleum was not aware of this agreement, indicating it was a unilateral decision by the Ministry of Transport, without consulting the Oil Ministry.

Additionally, he disclosed objections from the Egyptian Petroleum Minister regarding this procedure, as such agreements are supposed to be signed after discussions with Libyan oil institutions. However, he noted that some Egyptian companies, including Petrojet, continue their operations in Libya.

Tags: libyaLibyan OilMohamed AounOil Minister
Next Post

Czech Diplomat Leads EU Mission in Libya

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Italian Aviation Delegation Arrives in Benghazi

Libyan Attorney General Reveals Major Corruption Case in Tripoli

UN Envoy Confirms Implementation of Libya’s New Political Roadmap

The Missing Imam: Is This Libya’s Proof of Musa al-Sadr’s Death?

Calls to Float Libyan Dinar Spark Fears of Economic Chaos

Libya Beats Angola to Keep World Cup Hopes Alive

EDITOR PICKS

Arab League Reaffirms Commitment to Libya’s Unity

Italian Minister Stresses UN-Backed Stabilisation Process in Libya

Italian Aviation Delegation Arrives in Benghazi

US Embassy Funds Training for 20 Libyan English Teachers

Libyan Attorney General Reveals Major Corruption Case in Tripoli

Jordanian Surgeons Launch Kidney Transplants in Sirte

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR