H.E. Mr. Naji Mohammed Issa, Governor of the Central Bank of Libya, held meeting with the Chairman of the Board of Directors of National Oil Corporation, Engineer Masoud Suleiman Mousa. The meeting was attended by the Chairman of the Management Committee and the General Manager of the Libyan Foreign Bank, along with several directors from both the Central Bank and the National Oil Corporation on Wednesday, July 2, 2025.

The meeting focused on discussing ways to support the National Oil Corporation’s efforts to increase daily oil production by approximately 247,000 barrels. This increase is expected to generate additional annual revenues of around USD 6 billion, thereby enhancing the Central Bank of Libya’s ability to meet the demand for foreign exchange, maintain the strength of the Libyan dinar, and achieve the desired economic balance.

The discussions also emphasized the importance of continuing bilateral meetings between the Central Bank of Libya and the National Oil Corporation to strengthen coordination and secure the necessary financial resources for the implementation of planned projects. These resources are to be mobilized through both domestic and international financing channels, including the Libyan Foreign Bank and a number of international banks, in order to boost the oil sector’s production capacity.

The meeting also included a visual presentation by the National Oil Corporation outlining its oil production enhancement plan for the years 2025 and 2026.