Libya’s Central Bank and National Oil Corporation Unite to Revive Struggling Oil Sector
Libya’s Central Bank Governor Nagy Issa and National Oil Corporation chief Masoud Suleiman held urgent talks Monday to address the critical challenges facing the country’s oil industry, which serves as the backbone of its war-torn economy. The high-stakes meeting at the Central Bank headquarters in Tripoli focused on securing vital financial arrangements to boost oil production and overcome persistent operational hurdles.
Governor Issa made a strong commitment to ensure the NOC receives necessary financial support through official banking channels, marking a crucial step toward stabilizing Libya’s energy sector. The two leaders agreed to establish regular monitoring meetings to track production plans and improve coordination in tackling the economic and logistical obstacles that have plagued the industry.
This development comes as Libya continues to struggle with political instability and infrastructure challenges that have severely impacted its oil output, making this collaboration between key financial and energy institutions potentially game-changing for the nation’s economic recovery.
Source: libyaobserver.ly
