On Wednesday, the Energy and Natural Resources Committee of the Libyan Parliament held a detailed meeting in Benghazi with the Chairman of the National Oil Corporation (NOC), Masoud Suleman, to review the situation of Libya’s oil sector and discuss the challenges hindering the corporation’s work.
The session, chaired by MP Issa Al-Araibi, took place at the headquarters of the Arabian Gulf Oil Company (AGOCO) and was attended by several committee members, including Youssef Al-Agouri, Salem Qanan, Aisha Al-Tablqi, Moftah Al-Shaari, and Mawloud Al-Aswad.
During the meeting, the NOC presented its strategy for boosting production and improving operational efficiency across its companies.
Committee members emphasized that the absence of an approved national budget continues to obstruct critical development projects, delay maintenance programs, and restrict the corporation’s ability to increase output.
They stressed the need for urgent financial support to ensure the NOC can maintain stability in production levels and continue implementing strategic plans.
Additionally, MPs raised concerns about ongoing shortages and the persistent issue of fuel smuggling, which drains state resources and disrupts supply chains.
The committee and NOC leadership examined mechanisms to tighten oversight, enhance monitoring systems, and strengthen cooperation with security agencies to curb illegal fuel trafficking.
The meeting also reviewed the NOC’s recently established international offices. Members sought clarity on their roles, the outcomes achieved to date, and the overall value they add to the corporation’s operations, particularly in attracting partnerships and improving external coordination.
The committee highlighted the need to expand the capacity of domestic refineries to reduce Libya’s dependence on imported fuel. They noted that upgrading refinery infrastructure is essential for meeting local demand, supporting economic stability, and improving the efficiency of the national energy system.
At the conclusion of the session, the Energy and Natural Resources Committee affirmed its full support for the NOC and its development agenda. The committee pledged to provide the institutional backing needed to strengthen the corporation, raise production, modernize operations, and protect Libya’s most vital economic sector.
