NOC and CBL in London to stress commitment and autonomy

NOC and CBL in London to stress commitment and autonomy

August 31, 2015 - 10:23
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Written By: Abed

The National Oil Corporation (NOC) held a series of meetings, on August 27-29 in London, aiming at stepping up the cooperation in oil industry and assuring a firm commitment by the NOC to fulfil its contractual obligations.

The meetings were attended by the Governor of the Central Bank of Libya, Al-Siddeeq Al-Kabeer and the Global Refining Group, in addition to a number of global oil companies such as British Petroleum.

The CEO of the NOC, Mustafa Sanallah, indicated that the NOC has an autonomous economic system that is very independent financially and administratively as it works in a legal frame targeting the establishment of independency and professionalism and thus holding onto neutrality toward the political conflicts.

In the meantime, Al-Siddeeq Al-Kabeer, the CBL Governor, reiterated that the CBL will continue to back up the NOC in all its contracts amidst the deterioration of the foreign currency revenues due to lack of oil production and the sharp drop of world oil prices.

“All efforts should now be united among all parties so that we can soothe the suffering of the Libyan citizen and we should provide fuel for the public in time as it is an absolute priority for us.” Al-Kabeer continued.

The international oil companies taking part in the meetings expressed willingness to keep on cooperating with the NOC, stressing that the NOC must stay independent and united and away from the conflict that is taking place in Libya.

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