No Result
View All Result
Wednesday, July 16, 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 Libya

NOC chairman accuses PC of losing Libya $10 million a day

byMichel Cousins
August 30, 2016
Reading Time: 1 min read
A A

By Moutaz Mathi.

Tripoli NOC chairman Sanalla blast Kobler for meeting Jadhran(Photo: Libya Herald)
Tripoli NOC chairman Mustafa Sanalla (Photo: Libya Herald)

Tripoli, 29 August 2016:

The head of the National Oil Corporation (NOC) based in Tripoli, Mustafa Sanalla, has accused the Presidency Council of losing Libya $10 million a day because of delays in providing cash to the corporation to enable it to do its job properly.

In a statement on the NOC website, Sanalla demanded an explanation for the lack of cash.

“The Financial Arrangements Committee of the Presidency Council needs to explain the delay because every day our country loses over $10 million because of the shortfall, and that is money we will never recover,” he said.

RELATED POSTS

Justice may be delayed, but it is not absent‎: Former NOC chairman Sanalla on yesterday’s oil closures prison sentences

Libya’s oil production continues to creep upwards

The lack of money from the PC, he explained, had caused a major deficit in the NOC’s budget which then caused a shortfall in production by Arabian Gulf Oil Company and Sirte Oil of 229,000 barrels a day since the Presidency Council took control of Libya spending in March. It represented a total of 35 million barrels, worth $ 1.56 billion.

If the PC provided the NOC with the necessary annual funds to run oil operations in Libya, Sanalla pointed out, it would recoup the money within two or three months.

Sanalla also noted that the NOC has no control over the receipts from oil sales and that all oil income goes directly to the Central Bank of Libya. Like any other state institution, the NOC is then allocated funds by the government to run its business.

The NOC chairman has become increasingly disgruntled with the PC as well as with those who support it.   Last month he attacked UN Special Envoy Martin Kobler for meeting with Ibrahim Jadhran, who he called a criminal.

Tags: featuredLibyaMustafa SanallaNational Oil Corporation

Related Posts

ACA reveals 94,000 cases of state sector salary duplication in 2015
Libya

Three Fisheries officials temporarily suspend from work by Administrative Control Authority suspected of corruption

July 15, 2025
ACA reveals 94,000 cases of state sector salary duplication in 2015
Libya

ACA saves LD 409 million on school textbook printing, suspends Tripoli Education Ministry’s Textbook Warehouse Manager

July 15, 2025
Attorney General orders arrests at Jumhouria bank branch for embezzlement
Libya

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

July 11, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba seeking long term partnership not interim solutions on combatting irregular migration

July 10, 2025
Acting Interior Minister Trabelsi taking steps to counter forged ID numbers and passports
Libya

There are 4 million irregular migrants in Libya: Interior Minister Trabelsi

July 10, 2025
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba: Militias have become criminal gangs and a state within the state

July 9, 2025
Next Post

IS now reduced to small part of Sirte's District No. 3

6,908 migrants in 54 boats rescued Monday in 35 rescue operations off Libyan coast

6,908 migrants in 54 boats rescued Monday in 35 rescue operations off Libyan coast

ADVERTISEMENT

Top Stories

  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • China to resume implementation of its stalled railways projects in Libya

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    0 shares
    Share 0 Tweet 0
  • There are 4 million irregular migrants in Libya: Interior Minister Trabelsi

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    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

Three Fisheries officials temporarily suspend from work by Administrative Control Authority suspected of corruption

UK Minister visits Tripoli – agreement signed to improve quality of English teaching at Libyan educational establishments

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.