The Governor of the Central Bank of Libya (CBL), Naji Issa, and the Chairman of the National Oil Corporation (NOC), Masoud Suleiman, have held talks on ways to increase oil production and address the challenges facing Libya’s petroleum sector, in a meeting described by participants as a strong boost for the country’s oil industry.
Both sides discussed mechanisms to overcome difficulties facing the sector and agreed on the importance of providing the resources needed to support the NOC’s plans to reach the highest possible production levels — efforts aimed at enhancing national revenues and benefiting from current global oil prices, while also improving liquidity for the state.
The parties stressed the importance of maintaining continuous communication and coordination between the CBL and the NOC to ensure smooth operations, particularly regarding the provision of financial credits required to implement the corporation’s development and strategic projects. Participants also agreed on the importance of ensuring the smooth flow of oil revenues into the Ministry of Finance’s accounts at the CBL.
Attendees described the meeting as sending positive signals to international companies interested in investing in the Libyan market, confirming the unity of purpose among Libyan institutions in working toward national prosperity.
Source: libyaobserver.ly