Future of Libya and the next generations heavily depend on oil sector revenue, the Head of National Oil Corporation (NOC) Mustafa Sanalla confirmed.
During his address at the Oil and Gas international forum held in Benghazi, Mustafa Sanalla said:” I would like to stress the importance of transparency. To ensure fair distribution of oil revenue across all parts of the country every dinar that spent from the oil wealth of all Libyans should be monitored.”
Cyrenaica and Fezzan has long accused the Tripoli authorities, including the Central Bank of Libya (CBL) of inequitable distribution of oil revenue. According to the local administrations, Tripolitania received much more higher amounts of funds, comparing with two other regions.
In late June, eastern Libya-based government decided to transfer the major oil ports of Ras Lanuf and Es-Sider to a parallel NOC in Benghazi after the Khaftar-led LNA liberated the Oil Crescent in Sirte basin from the militant groups.
However, the Tripoli NOC regained control over the oil exports from Ras Lanuf and Es-Sider, profiting from the pressure of the western powers on Haftar-backed government.