No Result
View All Result
Saturday, July 5, 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

 UK will investigate any allegations of corruption in Libyan oil sector

bySami Zaptia
May 4, 2024
Reading Time: 1 min read
A A
Foreign Affairs Committee on Libya not taking official evidence from Tripoli or Tobruk CBL and LIA

The British House of Commons (file photo)

The UK will investigate any allegations of corruption in the Libyan oil sector.

The statement was made in a written answer in the British House of Commons (parliament) by the British Deputy Foreign Secretary David Rutley. The question was asked by member of parliament Daniel Kawczynski.

Kawczynski asked Rutley ‘‘what assessment his Department has made of the implications for its policies of levels of corruption in Libya’s (a) oil industry and (b) national oil bodies.

On 2 May David Rutley answered: ‘‘The National Oil Corporation (NOC) is an important institution in Libya with a vital role to play. It is however vulnerable to malign state actors seeking to benefit from Libya’s political instability and capture of Libyan wealth by a small number of well-placed individuals through corrupt practices such as fuel smuggling, which can contribute to regional instability.

The UK is therefore supportive of any efforts to investigate corruption and impropriety in the NOC and advocates greater transparency on revenue expenditure.

RELATED POSTS

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

NOC signs MoU with Turkish oil company TPAO for geological and geophysical study of four marine areas

The UK is clear that it will investigate any relevant allegations of corruption falling under the Bribery Act 2010.

Overall, the UK believes the only means of addressing these issues sustainably is through a political settlement under UN auspices, which it continues to support, including by encouraging all parties to engage meaningfully.’’

Tags: corruptionHouse of CommonsNOC National Oil CorporationUK British Parliament

Related Posts

CBL receives results from meetings with international banks
Business

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

July 2, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement
Business

All imports into Libya must be paid for through official bank transactions

July 2, 2025
World Bank holds off on Tunisian $50m power plant fund; implications for Libya
Business

Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

July 1, 2025
CBL receives results from meetings with international banks
Business

CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

July 1, 2025
Harouge Oil reaches record 45,000 bpd production – to increase it by 25,000 bpd
Business

Harouge Oil Operations Company replaces Al-Ghani field pipeline

July 1, 2025
Next Post
Transport Ministry meets Japanese company North Star interested in investing in Libya

Jordanian and Qatar Airways to resume Libya flights this month - discussions ongoing with Saudi Airlines

The Libyan African Investment Portfolio (LAP) participates in Brussels forum on Africa.

LAIP’s Prime Atlantic Hotel in Banjul, Gambia reopened after completion of initial renovation

ADVERTISEMENT

Top Stories

  • CBL goes public at last about the counterfeit LD 50 notes – notes to be withdrawn until end of August

    CBL reveals discovery of LD 3.5 billion in counterfeit 50-dinar notes printed in Russia – PM calls on Attorney General to open investigation

    0 shares
    Share 0 Tweet 0
  • Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
  • Three Libyan companies win awards in Athens International Olive Oil Competition ‎

    0 shares
    Share 0 Tweet 0
  • CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

    0 shares
    Share 0 Tweet 0
  • All imports into Libya must be paid for through official bank transactions

    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

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

Op-Ed: Reputational Damage Is Worse Than Losing Money

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.