Osama Hammad, head of the government appointed by the House of Representatives, called on Masoud Suleman, chairman of the National Oil Corporation, to provide detailed reports on the disbursement of any financial allocations to the corporation under the unified spending agreement, as well as revenues collected from sales, royalties, sovereign fees, and other sources.

In a letter addressed to Suleman and published by the House of Representatives-appointed government on its Facebook page on Monday evening, he said that his request is based on the state’s unified financial spending program for the 2026 fiscal year, which was agreed upon and signed by the House of Representatives and the High Council of State under the auspices of the Central Bank of Libya, and on the provisions of Article 4 of the agreement regarding the preparation and approval of an exceptional development program for the National Oil Corporation.

Allocation of 13.8 billion dinars to fund the National Oil Corporation

Hammad noted that the agreement stipulates “the allocation of 13.8 billion dinars to finance the operating expenses of the National Oil Corporation, in addition to other financial allocations necessary to implement this exceptional development program in cooperation with the Central Bank of Libya and relevant financing entities, in a manner that ensures financial sustainability and preserves the rights of foreign partners in the oil sector.”

Hammad stressed the need to provide him “urgently” with “a detailed report containing a clear statement regarding whether the amounts referred to above have been disbursed, in whole or in part, along with clarification of the amounts actually disbursed, the dates and procedures of disbursement, the beneficiaries, and the associated expenditure and implementation aspects, in accordance with the timeframes specified in the approved implementation plans and programs."

Detailed Data on Oil Revenues

Hammad also requested that the National Oil Corporation provide “detailed statements and data showing the volume of oil revenues resulting from crude oil sales during the period from the beginning of fiscal year 2026 until the date of this letter, including total revenues collected from crude oil exports, the value of oil royalties and sovereign fees collected, revenue from the sale of natural gas, condensates, and petroleum products, relevant supply data and financial transfers, and any financial obligations or deductions made during the same period.”

Hammad explained that the purpose of this measure is “to enable the competent authorities to exercise their supervisory and technical functions and ensure the implementation of the obligations contained in the unified spending agreement in accordance with the requirements of transparency, financial disclosure, and the protection of public funds.”