Libyan state oil firm given boost by authority to ramp up production

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Libyan state oil firm given boost by authority to ramp up production

December 09, 2017 - 21:38
Written by: AbdulkaderAssad

Photo: Presidential Council's media office

The Head of the Presidential Council Fayez Al-Sirraj met Saturday with the Chairman of the National Oil Corporation Mustafa Sanallah and the Governor of the Central Bank Al-Siddiq Al-Kabeer to review financial support to fund the NOC to be able to boost output and carry out oil services and other related works.

The media office of Al-Sirraj added that such support will increase oil production rates and thus enhance Libya’s economic status and decrease the deficit.

It also indicated that the step would end cash shortages and back up the Libyan dinar.