The National Oil Corporation (NOC) reported today that its Chairman, Masoud Suleiman, participated in an expanded meeting that included the Attorney General, the Head of the Audit Bureau, and the Governor of the Central Bank of Libya. The meeting reviewed the NOC’s preparations for launching a tender, inviting major international companies specializing in fuel supply and crude oil sales.
Masoud Suleiman emphasized that this tender is in line with the principles of transparency and integrity to which the NOC adheres in all its internal and external dealings. He explained that a leading international consulting firm has been engaged to prepare the supply contracts, ensuring their improvement and alignment with changes in global markets, and to secure the best possible offers from the companies targeted by the NOC in this tender.
Masoud Suleiman explained that the corporation is finalizing a new mechanism for fuel supply to ensure a smooth flow of deliveries and distribution, avoiding any bottlenecks or delays that could lead to fuel shortages in the local market. He noted that the NOC has contracted with the consulting firm KPMG, which boasts extensive experience and a strong international reputation in this field.
The meeting, held at the Audit Bureau headquarters in Tripoli, also discussed several sector-related issues, primarily the oil sector budget, revenues, fuel payments, and the public exploration tender launched by the NOC earlier this year to major international energy companies.
The NOC is also working to develop local refineries to meet a significant portion of the local market’s fuel needs and reduce reliance on external sources.
