Libya oil revenues under scrutiny

The article addresses the ongoing dispute over the figures related to Libyan oil revenues between the Central Bank of Libya and the National Oil Corporation. There is a gap of hundreds of millions of dollars between the reported numbers. This discrepancy raises questions about the management of oil resources, which account for approximately 82% of the current government funding, with an output of around 1.4 million barrels per day. The differences in the figures erode trust in the institutions and have prompted investigations to verify the integrity of procedures, especially regarding the management of accounts and funds allocated for importing subsidized fuel, which represents a significant financial burden. This fuel is widely suspected of being smuggled, with losses estimated between $2.4 and $4.4 billion according to the United Nations. Experts are calling for an independent review of accounts and revenue management procedures, highlighting the widespread corruption in the oil sector and its impact on the public treasury.

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