Home / Economy / NOC chairman attributes closure of fields to “lack of transparency in the use of oil revenues”

NOC chairman attributes closure of fields to “lack of transparency in the use of oil revenues”

The National Oil Corporation (NOC) chairman, Mustafa Sanallah, attributed the reasons for the closure of the oil fields to the lack of transparency in the use of oil revenues, calling on the Central Bank of Libya (CBL) and the government to be clearer about how the revenue are spent.

The NOC media office told ArraedLG on Monday, Sanallah agreed with the UN special envoy to Libya, Ghassan Salame to work together to fight the attempts by “armed groups” to gain a foothold in the Libyan oil sector during a meeting in Tripoli on Sunday.

Sanallah added that the parties agreed to cooperate with Libyan state institutions to increase transparency on the distribution of Libyan oil revenues and work with “local communities” to guide development and economic assistance, according to the NOC media office.

 

The National Oil Corporation raised the status of production on Alfeel oil field on February 23, after workers were evacuated, because of the deteriorating security situation.

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