Libya’s Oil Ministry accuses NOC Chairman of blocking over $10 billion for 16 months

oil and gas - June 20, 2022

The Libyan Ministry of Oil and Gas accused the Chairman of the National Oil Corporation (NOC), Mustafa Sanallah, of withholding 10.9 billion from the state treasury for a period of 16 months with foreign companies, which led to losing tens of millions of dollars.

The ministry added, in a statement, that Sanallah withheld information and data from it regarding the oil and gas quantities that Libya produces despite being directed several times by the prime minister not to do so, saying that he continued to be inflexible and challenging to the prime minister’s decisions.

The Ministry of Oil and Gas said that Sanallah violated the laws and legislation regulating the oil sector, and the technical foundations in managing the fields’ reservoirs, which led to disasters, heavy losses and technical problems that have negative effects on the performance of the sector and surface equipment.

It confirmed that the almost complete closure of the oil facilities actually occurred when the production and export closures were announced, accusing the NO and some external parties of silence despite their knowledge of the party that issued the closure instructions.

The Oil and Gas Ministry indicated hat what it said in the statement is the correct number because only the offshore, Hamada and Wafa oil fields remained operational, and their total production ranges between 100,000 and 200,000 barrels per day, saying that it has the right to supervise and control the sector in order to preserve the only source of income for Libyans.

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