The Libyan Presidential Council of the UN-backed Government of National Accord (GNA) has decided to strip the oil ministry of its duties and authorities by canceling its existence and giving itself the lead in the oil sector, besides giving the National Oil Corporation (NOC) several tasks to do in the sector.
The decision that came earlier this week saw the PC taking the powers and authorities of deciding everything related to the oil production, exportation, contracting, revoking contracts. giving letters of credit and many tasks more, while giving the NOC the executive and implementation tasks.
The NOC’s Chairman, Mustafa Sanallah, rejected on Tuesday the decision of the PC, saying it is not the legitimate body to take such decisions, but rather only the House of Representatives in Tobruk van do that.
“The decision of the PC is a clear takeover of the oil industry in Libya into the hands that know nothing about the business, the oil sector is specialisation of the NOC and the oil ministry alone, until a fully-united Libyan government can assume power and decide for the fate of Libyans’ fortune.” Sanallah added.