Statement by the National Oil Corporation on Libya’s decline in production

In a statement on their official website, the NOC affirmed its neutrality, as a pan-Libyan actor, and its complete independence from all conflicts, disputes or rivalries.

The NOC reaffirmed its commitment to continue its professional, non-political position, ensuring that “Libyan oil resources remain under the exclusive control of the National Oil Corporation” (Security Council Resolution No. 2434 of 2018), as well as the UN Security Council’s repeated call to boost oil production (Resolutions 2323 of 2016 and 2376 of 2017).

The country’s oil cooperative urged all political parties involved to recognize the importance of keeping this important sector apart from political squabbles, while also emphasizing the importance of liquidating the sector’s budgets in compliance with the law and the official timetable rather than some other irregular or illegal arrangement.

The NOC reiterated that they have made every effort to preserve the quality of their equipment, services, and properties as the country’s sole source of revenue, adding that they must be adequately resourced to continue to function as a critical pillar of Libya’s economic and social stability.

The corporation is acting in accordance with Security Council Resolution No. 2510 of 2020, which recognized the National Oil Corporation as “the only independent, and legitimate oil company”; and called for the protection of the corporation and its facilities, as well as the prevention of any attacks against it; and stated that the oil sector is owned by the Libyan people.

The NOC also reaffirmed the recent unanimous UN Security Council Resolution No. 2571 of April 2021, which condemns illicit oil exports as a threat to the National Oil Corporation’s efforts and the country’s unity.

The National Oil Corporation (NOC) expressed its gratitude for the recognition and affirmation of its neutral, technocratic mandate, and declares that it has been working with the US Department of Energy for several months to improve the accountability of all its operations and to remain accountable to the Libyan people.

The NOC concluded by inviting UNSMIL to evaluate the corporation’s efforts to improve transparency, accountability, and effectiveness, emphasizing that they are open to any and all forms of collaboration aimed at achieving these goals in accordance with international standards.