The National Oil Corporation and the Administrative Control Authority discuss the most prominent challenges and bottlenecks facing production operations.

Tripoli, January 12, 2025 (LANA) – The National Oil Corporation (NOC) held an expanded meeting this morning at its headquarters in Tripoli with the Administrative Control Authority to discuss the challenges facing the NOC and its subsidiaries, particularly regarding increasing production.

The meeting, attended by NOC Chairman Masoud Suleiman, Administrative Control Authority Chairman Abdullah Qaderbouh, and several department directors from both the NOC and the Authority, reviewed the most prominent challenges and bottlenecks negatively impacting production, as well as urgent solutions to mitigate their effects. These included securing the necessary operating budget and settling outstanding debts owed to national and international service companies.

In his address, the NOC Chairman stated that the corporation faces two major challenges: the lack of an operating budget, confirming that it did not receive one during the past year (2025), and the increasing value of the corporation's debts to service companies and suppliers.

He pointed out that these two factors presented the corporation with the challenge of maintaining production despite the lack of a budget, while simultaneously continuing production operations amidst mounting debt.

For his part, the head of the Administrative Control Authority, Abdullah Qaderbouh, affirmed that questioning the National Oil Corporation without evidence is unacceptable. He explained that this meeting stemmed from his belief in the corporation's role and standing, and the importance of contributing to a deeper understanding of the challenges it faces, as well as exploring effective mechanisms to address them.

He also commended the national expertise within the sector's technical, financial, and administrative departments, emphasizing adherence to legal regulations.

...(LANA)...