The Governor of the Central Bank of Libya, Naji Issa, discussed with the Chairman of the Board of the National Oil Corporation, Masoud Suleiman, ways to enhance joint cooperation and support the stability of the oil sector.
The two sides also reviewed mechanisms to overcome the difficulties facing the oil sector and to provide the necessary resources to support the National Oil Corporation’s ambitious plans to increase production rates and reach the highest possible levels. This would contribute to strengthening national revenues, benefiting from the rise in global oil prices, and providing the liquidity required by the state.
Both parties emphasized the importance of continuous communication and permanent coordination between the two institutions to ensure smooth workflow and overcome any challenges, particularly with regard to providing the financial allocations required for the development and strategic projects of the National Oil Corporation.
They also stressed the importance of ensuring that revenues flow to the Ministry of Finance’s accounts at the Central Bank to stimulate the national economy. This step represents a strong boost for the oil sector and sends positive signals to international companies interested in investing in the Libyan market.
