The Libyan Energy Forum called for stopping any measures affecting sovereign wealth, holding the High Council of Energy, the Presidency of the National Oil Corporation, and the Government of National Unity (GNU) fully responsible for ignoring the official and popular demands calling for “stopping any measures to sign the sale or mortgage of the people’s resources to foreign entities.”
The Forum added that it had monitored with concern the successive repercussions related to the energy file in Libya and the corruption that afflicted it, including the unjustified rise in the fuel subsidy bill in foreign currency, as well as the insistence of the GNU and the National Oil Corporation on continuing to barter crude oil for fuel, as well as the issues of fuel smuggling at an amount exceeding 40% of the amount of crude oil production.
The Energy Forum criticized the continuation of negotiations on the agreement to develop the “NC97” space in the Hamada oilfield, in addition to the Emirati partner’s efforts to sell its share in the largest oil refinery in Libya (220.000 barrels per day) to an unidentified third party.
It referred to the imminent victory of the Libyan party in the cases filed with the foreign partner, the possibility of bearing the fines and debts, and the return of the entire refinery to the National Oil Corporation, to contribute to the return of normal living conditions to the Ras Lanuf industrial complex, and the operation of ethylene and polyethylene factories.
It explained that the return of the refinery would lead to the launch of manufacturing industries, increase national income, and diversify its sources, with the possibility of developing the refinery, to provide 70% of the local market’s fuel needs.
The Head of the National Oil Corporation, Farhat Bengdara, had previously asked the Prime Minister Abdul Hamid Dbeibah to approve an offer submitted by the Emirati partner in the company “LERCO”, which operates the Ras Lanuf refinery, to sell its share to a third party that it did not identify.
Meanwhile, the intention of the GNU and the National Oil Corporation to sign an agreement with foreign companies to develop the Hamada field (NC97) created a nationwide controversy.
