Governor of Libya's CBL, Chairman of NOC go over 2019 budget

Governor of Libya's CBL, Chairman of NOC go over 2019 budget

October 28, 2018 - 21:30
Posted in:
Written By: AbdulkaderAssad

The governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabeer, has met with the Chairman of the National Oil Cooperation (NOC) Mustafa Sanallah, and reviewed boosting Libya's oil output and the vision the NOC has for the 2019 budget.

The meeting on Sunday at Al-Kabeer's office in Tripoli also saw the governor reiterating his support for the NOC as it is the one and only funding source for the country's budget, promising to continue to help the NOC overcome hardships and boost its production capabilities.

They both talked about challenges facing the NOC's work in all fields, the Facebook page of the CBL reported.

Al-Kabeer said last Tuesday, on the margins of the Libyan British Business Council (LBBC) in Tunisia that Libya would have a zero deficit rate in 2018 budget, adding that Libya's oil output had improved and inflation has dropped convincingly.

Sanallah said at Libya's Oil and Gas Exhibition and Forum in Benghazi last Wednesday that Libya's oil production ranges currently between 1.25 to 1.27 million barrels per day, adding that it sometimes reaches 1.3 million bpd.