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Monday, December 11, 2017
The heads of Libya’s NOC and central bank met with the leader of the UN-backed government, the Government of National Accord (GNA), to discuss funding to raise oil production levels. The meeting was a rarity as the three have not been on the best of terms due to stand-offs over public spending and funding for NOC.
“The meeting dealt with the necessary financial arrangements to provide funding to the National Oil Corporation so as to be able to raise production and carry out its tasks and responsibilities in … production, exploration, refining and transport of crude oil and petroleum products,” GNA said in a statement.
The statement went on to say that Libya’s rising oil output would help “reduce the deficit, and helps the Central Bank of Libya to take monetary policies to deal with the liquidity crisis and support the Libyan dinar and stimulate the national economy.”
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