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ACA meets with NOC.

Pulbished on:

Tripoli, July 1, 2025 (LANA) – The Chairman of the Administrative Control Authority, Abdullah Qaderbouh, discussed today, Tuesday, with the Chairman of the Board of Directors of the National Oil Corporation (NOC), Masoud Suleiman Musa, and a number of department and office directors from both sides, a number of vital issues facing the oil sector, in addition to the obstacles hindering the corporation's work.

The Authority stated, via its official page, that the meeting addressed mechanisms for referring the minutes of the corporation's meetings, decisions, and correspondence that entail financial obligations to the Authority, in accordance with the provisions of the law. They also discussed the mechanism for transferring oil revenues to the general revenue account on a timely basis.

The meeting also reviewed the latest developments in the Corporation's Board of Directors' decisions regarding financial payments to some companies to carry out work for the Corporation, and followed up on the measures taken regarding exploration and development programs for hydrocarbon resources in the Eastern Mediterranean region, in light of regional developments related to maritime borders and energy cooperation.

During the meeting, Kaderboh emphasized the need to inform the Authority of all measures taken by the Corporation regarding exploration blocks (22), developments in the public tender, and contracts to be signed with competing companies. He also emphasized the need to refer these developments to the Authority to exercise its powers in accordance with the provisions of Law No. (2) of 2023.

He emphasized the need for the Council of Ministers to overcome all difficulties facing the Corporation, including the necessary financial arrangements to repay outstanding obligations over the years and activate its strategic projects to ensure it performs its duties to the fullest extent possible. This will support efforts to increase oil production and benefit from rising global oil prices, utilizing the state's financial revenues for the public good and contributing to the creation of sustainable economic and strategic projects that generate financial returns for the state, especially in light of the global trend toward alternative energy production.

The Authority explained, according to its website, that the two sides discussed expenditures, marine supply schedules, and the causes of recurring fuel supply crises (gasoline and diesel). The Chairman of the Corporation expressed his commitment to ensuring the continued flow of fuel to secure the operation of vital facilities in the country. He emphasized the importance of activating the role of local refineries to ensure fuel availability and avoid crises and bottlenecks by supporting the country's local strategic stockpile.

The meeting concluded with an emphasis on the Authority's ongoing monitoring of employment procedures undertaken within the framework of the (7000+) project to employ top graduates in petroleum specialties, and the similar project scheduled to be launched next year. This is part of the Authority's ongoing monitoring to ensure employment controls in government sectors, in a manner that serves the public interest.

=Lana=