No Result
View All Result
Sunday, August 31, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Rival chiefs “could undermine” NOC’s autonomy

byMichel Cousins
November 28, 2014
Reading Time: 2 mins read
A A
Rival chiefs “could undermine” NOC’s autonomy

Mabrook Buseif (right) at the Vienna meeting with OPEC Secretary General and fellow Libyan Abdalla El-Badri

Bused (left)Abdalla S. El-Badri
Mabrook Buseif (right) at . . .[restrict]the Vienna meeting with OPEC Secretary General and fellow Libyan Abdalla El-Badri

The attendance of Mabrook Buseif at the Opec meeting in Vienna on 27 November as the newly appointed chairman of National Oil Corporation (NOC) was a small victory for the Tobruk-based government of Abdullah Al-Thinni against the rival Tripoli-based administration of Omar Hassi. It demonstrated the practical value of international recognition to the House of Representatives and its institutions.

But there is no evidence that the new chairman based in Tobruk will be able to exert any meaningful control over NOC as an institution, while it is possible that this decision will undermine its supposed autonomy from either side, which has enabled it, and the Central Bank of Libya, to operate until now without clear lines of responsibility.

Soon after Thinni’s deputy PM Abdulrahman Al-Taher introduced Buseif to journalists in Vienna as the new NOC chief, a defiant statement appeared on the corporation’s website — run from its Tripoli headquarters — saying that NOC’s “main office in Tripoli is still officially responsible for follow-up and adoption of all oil and gas sector activity in all of Libya including the operation of fields and production.”

It added that NOC’s chairman, board members, managers and staff were “authorised to perform their duties as normal without any change in the legal status of their responsibilities”.

It is therefore likely that Mustafa Sanallah, the NOC chairman theoretically dismissed following Buseif’s appointment, may continue in post despite the fact that neither he nor the Tripoli-based minister for oil and gas were apparently granted invitations or visas entitling them to attend the meeting in Vienna.

RELATED POSTS

During the 8th OPEC International Seminar in Vienna, the Minister of Oil called on Austrian company OMV to expand its investments in Libya

Top law firm joins new British Libyan Business Association

Buseif’s appointment was being mooted in the international oil markets for at least one week before the announcement in Vienna. According to one source, the Tobruk government intends to establish a new NOC headquarters in Ras Lanuf, but the feasibility of such a move has yet to be proven.

be proven. [/restrict]

Tags: featfeaturedLibyaNOCOPEC

Related Posts

High-level Libyan government delegation arrives in Guinea to regain ownership of illegally confiscated investment assets
Business

Libya Africa Investment Portfolio considering funding its Libya projects through Islamic bonds

August 29, 2025
Economy Minister Hwej reviews his ministry’s implementation of its 2023 plan and issues several directives
Business

Libyan German discussions include resumption of flights, opening of German Embassy’s visa section and economic and investment cooperation

August 28, 2025
Libya and Shell discuss several areas of cooperation
Business

Acting Minister of Oil and Gas Khalifa Abdel Sadig and US Chargé d’affaires Berndt discussions include developing oil sector

August 28, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Business

Aldabaiba-British Ambassador discussions include resumption of British Airways Libya flights and creating attractive Libyan investment environment for foreign companies

August 28, 2025
‘‘Enhancing skills related to the green and blue economy to enhance employment opportunities’’ workshop held in Tripoli
Business

Ministry of Planning launches Libya 2050 Vision

August 27, 2025
The International Forum & Exhibition for Free Zones – Misrata: 28 to 29 June at Misrata Free Zone
Business

Qatari shipping line Milaha begins its Libya operations from Misrata Free Zone

August 27, 2025
Next Post

Mitiga and Misrata airport and port "to be attacked" warns LNA

UN sanctions "hollow" if not followed through: HRW

ADVERTISEMENT

Top Stories

  • Largest-ever Libyan government delegation to visit Washington first week of September

    Largest-ever Libyan government delegation to visit Washington first week of September

    0 shares
    Share 0 Tweet 0
  • Medsky to launch new direct flights between Libya and Athens soon

    0 shares
    Share 0 Tweet 0
  • NOC discusses exploration and production with US oil giant Chevron in its 4 billion reserves, 18 bn barrels of shale oil and 123 trillion cubic ft of natural gas

    0 shares
    Share 0 Tweet 0
  • Qatari shipping line Milaha begins its Libya operations from Misrata Free Zone

    0 shares
    Share 0 Tweet 0
  • Libyan German discussions include resumption of flights, opening of German Embassy’s visa section and economic and investment cooperation

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Libya Africa Investment Portfolio considering funding its Libya projects through Islamic bonds

Libya’s Emergency Telecoms Management Plan to enhance crisis preparedness, effective response and early warning system – is launched

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.