H.E Mr. Saddek Omar ElKaber, Governor of the Central Bank of Libya, Mr. Khaled Ahmed Shakshak, Head of the Libyan Audit Bureau, and Mr. Farhat Omar Bengdara, Chairman of the Board of Directors of the National Oil Corporation (NOC), held an expanded meeting at the Central Bank of Libya, Wednesday, January, 31st 2024, in the presence of Mr. Mare Moftah Salim, the Deputy Governor, the Director General of the Libyan Foreign Bank, advisors and experts. A presentation about increasing oil production projects was delivered during the meeting; including the financial allocations required for those projects, the fuel payment mechanism, and the existing challenges.

At the end of the meeting, the attendees affirmed their support for the efforts of the NOC and encouraged it to raise production rates and set a clear mechanism for financing the development projects presented, in addition to proposing solutions to address the fuel supply mechanism. The attendees also stressed raising the rates of disclosure and transparency and strengthening the review and audit process carried out by the Audit Bureau and the relevant regulatory authorities. The meeting also addressed the water crisis in The city of Zliten and supporting the government’s efforts and the NOC’s contribution to addressing this crisis.