The Organization of Petroleum Exporting Countries (OPEC) has agreed to write off Libya's accumulated debts, estimated at 20 million Libyan dinars, Libya's Ministry of Oil and Gas announced on Monday.

OPEC's Ministerial Council decided on the issue during its 109th meeting hosted by Kuwait, in the presence of Libya's Minister, Mohamed Aoun, and representative of Libya to the Executive Council of the Organization, Counselor Adel Jibril.

A statement by the Oil Ministry on Facebook said the Libyan delegation explained the circumstances of the accumulated debts, and a decision was taken to drop them.

The group looked into other issues, including approving OPEC's budget for the next year and reviewing its charter, besides developing the organization to cover renewable energies.