Tripoli, Libya (PortSEurope) November 19, 2020 – Eng. Mustafa Sanalla, Chairman of the Board of Directors of Libya’s National Oil Corporation (NOC), has received the Ambassador of Spain to Libya, Javier García-Larrache, and his accompanying delegation. NOC has recently restarted oil production and Reuters reported that output is 1.25 million barrels per day (bpd), with its port now operational for oil exports. Eng. Mustafa Sanalla
gave an overview of the challenges that the oil and gas sector faced during the last period, asserting that the National Oil Corporation and its subsidiaries have exerted huge efforts throughout the blockage period which reflected positively by the rapid return of production rates to their normal levels prevailed before the blockades. He said: ‘We are happy with our partnership with the Spanish company Repsol and there has been a commercial exchange between Libya and Spain in the oil and its derivatives field that exceeded 7.5 billion dollars during the last three years. The National Oil Corporation wishes to raise the commercial exchange rates in oil and gas field and we appreciate and are thankful for the role that Repsol has been playing through its cooperation with us in capability building and sustainable development aspects”. Member of the NOC Board of Directors for Exploration and Production, Abulgasem Shengeer, commented that the Libyan oil sector needs the return of Spanish service companies because of their capability and long expertise in this field in order to meet the requirements of the sector in training and other aspects to develop the Libyan personnel. For his part, the ambassador congratulated NOC on its rapid return to the production of oil to levels that existed before civil unrest suspended production. The situation for NOC remains unstable locally. On November 23, an armed group attempted to break into its Tripoli headquarters of Libya’s National Oil Corporation. Also, NOC is involved in a dispute with the country’s central bank, saying that it does not want to hand over revenue without knowing how the money will be used. The funds are currently deposited in a foreign bank, until such time as a unity government is created. Copyright (C) PortSEurope. All Rights Reserved. 2020.
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