Tripoli – The Chairman of the Board of Directors of the National Oil Corporation, Engineer Masoud Suleiman, affirmed that the new tender for the supply of fuel and the sale of crude oil is part of the Corporation’s commitment to the principle of transparency and integrity in all its internal and external dealings.
This came during an expanded meeting held at the headquarters of the Audit Bureau in Tripoli, attended by the Attorney General, the President of the Audit Bureau, and the Governor of the Central Bank of Libya. During the meeting, the Corporation’s preparations to launch the tender, to which major specialized international companies will be invited, were reviewed.
Suleiman explained that the Corporation has engaged an international consulting firm to prepare and improve the contracts to keep pace with changes in global markets and to ensure the best possible offers are obtained.
He also noted that the Corporation is about to adopt a new mechanism for fuel supply that will ensure a smooth flow of supply and distribution and prevent any potential shortages in the local market.
The meeting also discussed a range of files related to the sector, chief among them the oil budget, revenues, and payment for fuel, in addition to the public exploration tender launched by the Corporation early this year for international energy companies.
The National Oil Corporation affirmed that developing local refineries is part of its plans to meet a significant portion of the local market’s needs and reduce reliance on external imports.