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Shakshak and Bin Qadara discuss issues facing oil sector

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Tripoli, 13 September, 2022 (Lana) - Head of the Audit Bureau, Khaled Shakshak, met Monday, with the Chairman of National Oil Corporation, "Farhat bin Qadara" and directors of the relevant departments to dsicuss difficulties and problems that the oil sector suffers from, including the growing rate of NOC obligations to companies, and Affiliate s contracted and its impact on the continuation of work in light of the failure of the financial flows necessary to cover them despite the provision of allocations by the government, and the examination of appropriate mechanisms and measures to review and verify their integrity.

The meeting, which was held at the Audit Bureau in Tripoli, touched upon the possibility of implementing the previous recommendations of the Bureau by setting a governance guide for the work of the institution, strengthening the internal control systems for the sector, adopting transparency and disclosure programs on all programmes, operations and contracts concluded by the institution with others, and setting controls to ensure their implementation in a manner that ensures the integrity of procedures and ensures the institution achieve its objectives. and increase production rates.

According to the Audit Bureau, the meeting discussed in particular measures taken regarding the cases brought about the Ras Al-Anouf refinery, the subject of the Libyan-Emirati company's investment.

It disclosed that the meeting agreed on the Libyan-Emirati company to recommend the formation of a committee by the government, with the membership of the concerned parties, to study and resolve the issue. It was also agreed - according to the same source - to implement mechanisms and measures, starting with the formation of committees from both sides to evaluate some files and find appropriate solutions to them, and to work at an accelerated pace to address the debt file and follow it closely to ensure that companies do not stumble and their businesses continue.

=Lana=