Tripoli: The Chairman of the Administrative Control Authority, Abdullah Qaderbouh, engaged in a significant meeting with the Chairman of the Board of Directors of the National Oil Corporation (NOC), Masoud Suleiman Musa, alongside various department and office directors from both entities. The discussion centered on numerous critical issues facing the oil sector and the obstacles impeding the corporation's operations.
According to Libyan News Agency, the meeting delved into the mechanisms for referring the minutes of the corporation's meetings, decisions, and correspondence that involve financial obligations to the Authority, as mandated by the law. The participants also examined the process of transferring oil revenues to the general revenue account in a timely manner.
The dialogue further explored recent decisions by the Corporation's Board of Directors concerning financial payments to certain companies for executing work for the Corporation. Additionally, they followed up on the measures undertaken regarding exploration and development programs for hydrocarbon resources in the Eastern Mediterranean, considering regional developments related to maritime borders and energy cooperation.
During the discussions, Abdullah Qaderbouh stressed the importance of keeping the Authority informed of all actions taken by the Corporation concerning exploration blocks (22), the progress of public tenders, and contracts with competing companies. He underscored the need to refer these developments to the Authority to exercise its powers as per Law No. (2) of 2023.
Qaderbouh highlighted the necessity for the Council of Ministers to address all challenges faced by the Corporation, including the requisite financial arrangements to settle outstanding obligations from previous years and activate strategic projects. This approach is vital for maximizing oil production and capitalizing on rising global oil prices, ultimately using the state's financial revenues for public benefit and contributing to sustainable economic and strategic projects.
The Authority, through its website, outlined discussions on expenditures, marine supply schedules, and the recurring fuel supply crises involving gasoline and diesel. The Chairman of the Corporation reiterated his dedication to maintaining fuel flow to ensure the operation of vital facilities within the country. He emphasized the activation of local refineries' roles to ensure fuel availability and prevent crises by bolstering the nation's local strategic stockpile.
The meeting concluded with a focus on the Authority's ongoing oversight of employment procedures within the framework of the (7000+) project, aimed at employing top graduates in petroleum specialties. A similar project is slated for launch next year, as part of the Authority's continuous efforts to ensure employment controls in government sectors, aligning with public interest.