Tripoli: The Chairman of the National Oil Corporation (NOC), Masoud Suleiman, announced that the corporation achieved its highest monthly revenues in a decade, reaching approximately $4 billion from crude oil sales and royalties in May.
According to Libyan News Agency, Suleiman made this announcement during a reception at the NOC headquarters in Tripoli. He credited this financial milestone to the skilled national technical workforce, which has managed to overcome challenges in the sector during these exceptional times.
Suleiman highlighted that the corporation is continuing to develop its institutional performance through a well-defined phased plan. This plan is under the direct supervision of the Chairman and the Board of Directors. He also mentioned the release of a guide on powers and delegations, which provides broader authority to middle management, thus improving operational efficiency and decision-making processes.
He further assured the public that fuel supplies remain stable and reserves are abundant. During his speech, Suleiman noted that the number of gasoline tankers contracted for delivery in May was 17, marking the highest delivery rate in the corporation's history. He added that total spending on fuel in May exceeded one billion dollars, emphasizing that the current crisis is linked not to supply shortages but to the distribution and control mechanisms to prevent illegal fuel diversion.