Close Menu
Libya Update NewsLibya Update News
  • Home
  • National
  • Region & World
    • The Maghreb
    • Middle East
  • Business
    • Oil & Gas
    • Economy
    • Analysis
  • Opinion
  • Editors’ Picks
  • Health & Lifestyle
  • Sports
Facebook X (Twitter) RSS
Trending
  • Deputy Commander-in-Chief extends congratulations to Libyans and Islamic nation on Eid al-Adha
  • Google Launches ‘Pause Point’ Feature to Enhance Digital Well-being and Reduce Excessive App Use
  • Ministry of Endowments Sets Eid al-Adha Holiday for Quran and Sunnah Memorization Centers
  • Haftar emphasizes importance of education during Teacher and Student Festival in Benghazi
  • Hajj and Umrah Authority: Libyan Pilgrims Arrive in Arafat Amid Spiritual Atmosphere and Meticulous Organization
  • Benghazi Celebrates ‘Generation Building the Nation’ Festival, Attended by Commander-in-Chief
  • Supreme Fatwa Committee: Al-Wahda Bank’s ‘Tawa’ Financing Service Illegitimate
  • Sebha Mayor discusses with UN Humanitarian Coordinator cooperation on several development files in the city
  • About Us
  • Contact Us
Facebook X (Twitter) RSS
Libya Update NewsLibya Update News
Subscribe
Wednesday, 27 May 2026
  • Home
  • National
  • Region & World
    • The Maghreb
    • Middle East
  • Business
    • Oil & Gas
    • Economy
    • Analysis
  • Opinion
  • Editors’ Picks
  • Health & Lifestyle
  • Sports
Libya Update NewsLibya Update News
Home » US unveils proposal for managing Libyan oil revenues

US unveils proposal for managing Libyan oil revenues

Sunday, March 27, 2022 Oil & Gas 2 Mins Read
(Exclusive) US envoy pushes for Libyan presidential elections delay

The US ambassador to Libya, Richard Norland, unveiled in an interview with the Turkish Anadolu Agency possible US initiatives related to oil fields in Libya currently blocked for political reasons as the global oil supply problems become more acute.

Norland said it is the worst time to block Libyan oil production, adding that Libyans could have benefited from the current high prices and global markets which need the oil.

“But the polarized political situation in Libya does raise the risk that competing political forces will try to gain control of the oil revenues. That is why the US, along with its various partners including the UN, EU, and Egypt, is proposing a mechanism to manage oil revenues until agreement is reached on the broader political issues.” Norland explained.

According to Norland, their proposed mechanism would only dispense oil revenues on salaries, subsidies, oil production, and key imported goods such as food and medicine. He added that this would be done with full transparency and accountability.

“Of course, Libyan stakeholders will be the ones to decide whether to implement this, but there are compelling reasons for leaders to ensure revenues go only to benefit the Libyan people.” Norland added.

Norland said Russia’s unprovoked and unjustified invasion of Ukraine is a reflection on a massive scale of the destabilizing role Russian Wagner Group mercenaries have played in Libya and the Sahel region, adding that the mercenaries tried to topple the government in Tripoli and interfered in the elections scheduled for December 24 of last year.

Norland told the Anadolu Agency that the US was aware of reports that the mercenaries were being transferred from Libya to Ukraine to fight for Russia, as well as reports of Moscow’s attempts to recruit foreign fighters against Kyiv.

Libya Oil United States
Follow on Google News Follow on Facebook Follow on X (Twitter)
Share. Facebook Twitter Pinterest LinkedIn Email Reddit Telegram WhatsApp Copy Link
Previous ArticleNOC and Total discuss increasing production and capacity-building
Next Article Bashagha: My government to enter Tripoli soon

Keep Reading

Libya, Turkey Explore Expanding Oil, Gas Partnership and Investment

IN-VR reveals LIBYES: Say Yes to Libya programme and announces LIBEX (Libya Energy Week & Exhibition)

The National Oil Corporation issues its annual technical report 2025 and confirms its commitment to transparency

Al-Brega: Fuel supplies normal and precautionary measures to ensure market stability

Australia establishes a $2 billion fund to support fuel imports amid a supply crisis

Dangote Refinery confirms increase in gasoline and urea exports to compensate for supply shortage in Africa due to Iran crisis

Follow us on Twitter

The Libya Update Follow

Stay ahead of the curve with The #Libya Update - your go-to source for news and insights on Libyan politics, business, culture, and more. #LibyaNews

TheLibyaUpdate
thelibyaupdate The Libya Update @thelibyaupdate ·
18h

Google Launches 'Pause Point' Feature to Enhance Digital Well-being and Reduce Excessive ...App Use

Reply on Twitter 2059267946925453599 Retweet on Twitter 2059267946925453599 Like on Twitter 2059267946925453599 Twitter 2059267946925453599
thelibyaupdate The Libya Update @thelibyaupdate ·
18h

Ministry of Endowments Sets Eid al-Adha Holiday for Quran and Sunnah Memorization Centers

Reply on Twitter 2059261974366527757 Retweet on Twitter 2059261974366527757 Like on Twitter 2059261974366527757 Twitter 2059261974366527757
thelibyaupdate The Libya Update @thelibyaupdate ·
23h

Haftar emphasizes importance of education during Teacher and Student Festival in Benghazi

Reply on Twitter 2059189314383126978 Retweet on Twitter 2059189314383126978 Like on Twitter 2059189314383126978 Twitter 2059189314383126978
libya update
Facebook X (Twitter) RSS

News

  • National News
  • The Maghreb News
  • Middle East News
  • Business News
  • Sports News

Company

  • Information
  • Ethics Policy
  • Corrections Policy
  • Fact-Checking Policy
  • GDPR Policy

Categories

  • Editors’ Picks
  • Opinion
  • Health & Lifestyle
  • Videos
  • Infographics

Subscribe to Updates

    © 2026 All copyrights reserved. The Libya Update.
    • About Us
    • Privacy Policy
    • Advertising

    Type above and press Enter to search. Press Esc to cancel.