Washington, April 18 (IANS) The United States and key global powers have welcomed Libya’s agreement on a unified national budget for 2026, calling it a “critical step” towards economic coordination, stability, and long-term political unity in the conflict-hit country. In a joint statement released by Washington and nine other governments, including Egypt, France, Germany, Italy, Qatar, Saudi Arabia, Türkiye, the United Arab Emirates and the United Kingdom, the signatories said they “wel…
Latest National Oil Corporation News & Updates
Tripoli, April 6 (IANS) Libya’s oil production has risen to about 1.43 million barrels per day, the highest level recorded in over a decade, Chairman of Libya’s National Oil Corporation Masoud Suleiman announced. Suleiman on Sunday (local time) said during a meeting that oil sales revenue for February exceeded 2 billion US dollars and was fully transferred to the state treasury without any deductions, a first in years, reports Xinhua news agency.He also noted that domestic fuel supplies remain s…
Tripoli, April 5 (IANS) The head of Libya’s Presidential Council, Mohamed Al-Menfi, has instructed that no new deals be made concerning already developed oil fields in the country, according to a report. The instruction to Masoud Suleiman, chairman of the National Oil Corporation (NOC), confirmed Saturday (Local time) by the Presidential Council’s media office, prohibits all forms of agreements in this regard, including contractual arrangements, reports Xinhua news agency, quoting Al-Ahrar TV.Me…