The Libyan oil sector witnessed important developments last week, with the United Nations announcing that it is closely following attempts to export Libyan oil "outside the National Oil Corporation (NOC)," while the Presidential Council and the NOC began a round of negotiations aimed at increasing the salaries of workers in the sector.
During a meeting with the Chairman of the NOC, Mustafa Sanalla, Deputy Special Representative of the Secretary-General for Political Affairs, Stephanie Williams, said that "the United Nations is following attempts to illegaly sell Libyan oil, which is in violation of Security Council resolutions," and reiterated that "the NOC is the only internationally recognized entity authorized to sell Libyan oil."
Williams discussed with Sanalla on Thursday, "the need for national investment in the oil sector; to maintain the current production and provide increased production in the coming years," according to a statement by the UN mission.
Total sales of oil, gas and petrochemicals totaled $10.33 billion from January to the end of June.
The July revenue figures showed that the sale of crude oil alone earned $8.88 billion during the same period, while revenues from taxes and concession royalties reached $711.97 million. Revenues from gas and condensate sales reached $716.85 million, while petrochemicals sold $20.99 million in the first half of this year.
Sanalla spoke with Presidential Council leader, Fayez Al-Sarraj, on the importance of implementing Resolution No. 642 of October 24, 2013, which provides for an increase in the salaries of oil and gas workers by 67%.
The two sides agreed to hold a meeting between the Council, the NOC and the Ministry of Finance to discuss the mechanism of implementing the increase.
During a separate meeting with the Presidential Council, Sanalla stressed the importance of increasing investment in the oil sector, and the commitment of the NOC to increase national oil revenues.