The Minister of Oil cancels the decision to reconstitute the Board of Directors of the National Oil Corporation.

Tripoli, March 29, 2022 (LANA) - The Minister of Oil and Gas, "Mohamed Aoun" issued a decision to cancel Resolution No. (3) of 2011 regarding restructuring the Board of Directors of the National Oil Corporation and canceling the decision of the Undersecretary No. (50) for the year 2014 regarding assigning a member the duties of a chief The Board of Directors of the National Oil Corporation and the nomination of another member.

The first article of Resolution No. (36) for the year 2022, of which the Libyan News Agency (LANA) obtained a copy, stipulates that the decision of the Minister of Oil and Gas No. (3) of 2011 regarding the restructuring of the Board of Directors of the National Oil Corporation, as well as the decision of the Undersecretary of the Ministry of Oil, shall be cancelled. Oil and Gas No. (50) for the year 2014 regarding assigning a member the duties of the Chairman of the Board of Directors of the National Oil Corporation and naming another member.

While the second article of the resolution stipulates that it shall be implemented from the date of its issuance and officially announced by the President and members of the Council of Ministers, the Governor of the Central Bank of Libya, the head of the Audit Bureau, the head of the Administrative Control Authority, the head of the National Anti-Corruption Authority, the heads of the management committees of the operating companies and the directors of foreign oil companies’ branches.

Article (3).

While the third article stipulates that every provision that contradicts the provisions of this decision shall be repealed.