Tripoli, April 5: Libya’s Presidential Council head, Mohammed al-Menfi, has issued a directive to halt any new deals related to the country’s already developed oil fields.
The media office of the Presidential Council confirmed that all new agreements concerning these oil fields are suspended under instructions given to the chairman of the National Oil Corporation (NOC), Masoud Suleiman. According to reports from Xinhua news agency, this suspension includes all types of agreements, contractual arrangements, and other related transactions.
Al-Menfi also requested an immediate report to the council regarding the legal, technical, and economic processes and backgrounds of any previous deals.
Reports indicate that this move aims to safeguard Libya’s national economy and ensure optimal benefits from its strategic oil resources.
This decision follows Prime Minister Abdul Hamid Dbeibah’s controversial suspension of a previous oil development agreement, allegedly made with the Arabian Gulf Oil Company. The suspension was prompted by rising concerns over transparency and public backlash.
Oil and gas exports are Libya’s primary source of revenue, but production has faced repeated disruptions in recent years due to conflict and political instability.
Meanwhile, Libya’s Ports and Maritime Transport Authority announced that efforts to tow a damaged Russian liquefied natural gas (LNG) tanker have failed.
The authority stated, “Due to deep pressure and strong winds (40 knots) with waves reaching up to 5 meters, the tanker is now completely adrift and out of control.”
They added, “We inform all ships, marine units, and relevant authorities that the towing operation failed on April 2 at 4:00 AM. The tanker is now out of control, and tugboats are unable to bring it back in this hazardous weather.”
The 277-meter-long tanker, “Arctic Metagas,” was carrying approximately 62,000 metric tons of LNG when it sank in the waters between Libya and Malta on March 3, as reported by the Libyan News Agency in a navigation circular.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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