National Oil Corporation: Oil revenues will not be transferred to CBL – Libya

The National Oil Corporation confirmed that oil revenues will not be transferred into the Central Bank of Libya (CBL) account, explaining that they will be withheld in its accounts with the Libyan Foreign Bank.


The National Oil Corporation noted that the withholding of revenues in the Corporation’s accounts at the Libyan Foreign Bank is temporary until a comprehensive political settlement is reached, the most important of which is the fair use of revenues between all cities and villages of Libya.

NOC said in a statement on Monday that the revenues will not be transferred to CBL account until the bank has clear transparency before the Libyan people about the mechanism of disbursing oil revenues during previous years and about those who benefited from these revenues in foreign currency, which in total exceeded 186 billion dollars over the past nine years


Arab Observer

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