US Ambassador: Efforts are underway to establish a mechanism to manage oil revenues

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US Ambassador: Efforts are underway to establish a mechanism to manage oil revenues

June 28, 2022 - 22:40
Written by: LibyaMohammed

The US Ambassador to Libya, Richard Norland, said on Tuesday that efforts are underway with international support to establish a Libyan-led mechanism to provide transparency regarding how oil revenues are spent, stressing the need to resume oil production and give this mechanism a chance to work.

This came during his meeting with the Chairman of the Board of Directors of the National Oil Corporation, Mustafa Sanallah, where they discussed critical importance of restoring Libyan oil production immediately to Libya and the global economy.

Norland indicated that “as temperatures soar, electricity blackouts grow, prices rises and oil infrastructure corrodes, there is no excuse for those claiming that the oil shutdown is in the interests of Libya’s people”, the US Embassy tweeted.