Related Articles
Interview
Forward article link
Share PDF with colleagues

NOC pleads for money from Tripoli

Unity government’s refusal to transfer funds pledged to state firm is stalling oil-output recovery, says NOC chief

Libya’s oil recovery is being hindered by the UN-appointed government’s refusal to disburse money to the state company, said head of National Oil Corporation (NOC) Mustafa Sanallah. Libya’s oil output could leap from 200,000 barrels a day now to 0.9m b/d by year end and 1.2m b/d “within 12 months” – but only if the Government of National Accord’s (GNA) Presidency Council starts to release money it has pledged to NOC, Sanallah said in a lengthy interview with Petroleum Economist. “Why are they blocking the money for NOC?” Sanallah asked, referring to the Presidency Council, the GNA’s executive arm. The money was crucial for the state company to begin a recovery in oil output, to the benefit

Also in this section
Nigeria's Buhari question
23 May 2017
His 2015 election brought hope for Nigeria's struggling oil-dominated economy. Is the president now part of the problem?
Iraq: Time to quit smoking
17 May 2017
The elimination of pollution from gas flaring in southern Iraq is becoming an election issue
Venezuela courting disaster
17 May 2017
A Supreme Court ruling has given the president broad authority to strike oil deals. Will there be any takers?