Chairman of the Libyan National Oil Corporation (NOC), Mustafa Sanalla, discussed with Acting Chairman of Waha Oil Company, Anwar al-Shahloul, the mechanism of rationalization in spending in line with the Corporation’s priorities represented in the safety of workers and then maintaining and continuity of production rates, ensuring the application of law and strengthening the principle of transparency and good governance followed by the Corporation and its subsidiaries.
Sanalla said the debts of the oil sector amounted to 6.5 billion dinars, according to the estimates of NOC financial committee, adding: “Our role is to protect the oil sector from complete collapse,” NOC said in a statement.
In a speech before the monitoring bodies of major oil companies, including Mellitah, Waha and Akakos companies, Sanalla indicated that there are internal debts of national companies due to the accumulation of salaries for 5 months, pointing out that the debt of one of the service companies has reached $250 million.
He continued, “Our role is to protect the oil sector from collapsing. The responsibility is great. These are public funds that we must preserve.”