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Eastern Parliament in Libya Approves of Oil Revenues Going to Tripoli

(Author: Libyan Gazette Editorial Staff)


Revenue from Libya’s oil exports will be going to the central bank in Tripoli, said officials from the eastern parliament in Libya, despite the eastern parliament’s recent vote of no confidence for the Government of National Accord (GNA) based in Tripoli.  

Major oil terminals in Libya’s oil crescent region have recently began exporting oil after Libya’s National Oil Corporation (NOC) lifted a force majeure which shut down the oil facilities.

The reopening of these oil terminals has raised Libya’s oil production to over 200,000 barrels per day.  

This has defused the tension that surrounded speculations suggesting that the eastern parliament might demand the revenue be redirected from the UN-backed GNA to the eastern parliament.

The eastern parliament, also known as the House of Representatives (HoR), stresses that Libya’s oil revenue should be fairly distributed by the NOC.

Agila Saleh, the HoR’s president, said, “the revenues of oil will be deposited in the central bank of Libya and will be for all Libyans according to geographic distribution and density of population. All Libyans (will) benefit from this wealth.”

Saleh said there are plans for him to meet with Mustafa Sanalla, the head of the NOC, and Ali Hibri, the governor of the eastern central bank.

“We will work to draft a new agreement with the (eastern) parliament’s finance committee for harmonizing operations in the Libyan central bank and the NOC,” said Saleh.

Imposed sanctions have been placed on Saleh by the EU and the US who allege that Saleh has preventing Libya from progressing politically. Some members of the HoR parliament who support the UN-backed GNA say they have been blocked from organizing or participating in votes to support the GNA.

Saleh said the sanctions are a “violation of Libyan sovereignty and democracy” and said he welcomes civil society groups to monitor the vote.

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