The National Oil Corporation (NOC) announced the transfer of $11,662,184,278 to the Central Bank of Libya (CBL) during 2024.
The corporation published a detailed report on its Facebook page, outlining the revenues transferred to the Central Bank throughout the year.
According to the data, $1 billion was transferred on January 28, 2024, followed by $500 million on February 11, $1 billion on February 20, and $500 million on March 4.
On March 14, 2024, the NOC transferred $500 million to the Central Bank of Libya, followed by another $500 million on March 28, $500 million on March 31, and $1 billion on April 24.
The data also includes the transfer of $1,172,184,278 on May 15, $750 million on May 29, $200 million on May 30, and $40 million on June 5.
Additionally, the corporation transferred $1.3 billion on July 1, $1.2 billion on July 15, $400 million on July 24, and $1.1 billion on August 20.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
