Middle East Monitor reported on Saturday that former Oil Minister Mohamed Aoun had spoken about the widespread corruption in Libya’s oil sector, which is struggling to recover from recent disruptions and ongoing instability. The issue continues to cast a shadow over the sector’s regulatory environment.
Aoun added that Libya’s oil and gas sector had faced renewed instability and politically motivated disruptions in recent weeks, resulting in a temporary reduction in production. However, while these disruptions have attracted considerable attention, another obstacle threatens the sector’s recovery and planned foreign investment.
According to the news outlet, Aoun criticized what he described as “unprecedented corruption and ignorance” in Libya’s oil sector, claiming that “billions of dollars” in oil revenues had been wasted or plundered over the past 15 years.
