Al-Sarraj discusses additional funding for National Oil Corporation

Alwasat - Cairo Thu 22 Aug 2019, 02:59 PM
alwasat radio

The head of Libya's Presidential Council, Fayez Al-Sarraj, held an extensive discussion on the provision of additional funding for the National Oil Corporation in the coming period.

Al-Sarraj's held the discussion with Planning Minister Taher Al-Jahmi, Minister of Finance Commissioner Faraj Boumtari, Governor of the Central Bank of Libya Al-Sadeq Al-Kabeer, Chairman of the National Oil Corporation Mustafa Sanalla, Chairman of the Audit Bureau Khalid Shakshak and Chairman of the Libyan Investment Authority Ali Mahmoud.

The meeting dealt with "investment in the oil sector and the implementation of plans to develop it effectively to achieve additional financial returns in order to contribute to the revival of the national economy in various fields, improve development in the public service sector and the implementation of  projects and reconstruction in various regions of Libya."

It was also agreed during the meeting to set budget to start the investment in the oil sector, to enable the Corporation to increase production and increase export rates, while performing its overall tasks of exploration, refining and transport of crude oil and petroleum products.

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