14 Hrs
Source:
عين ليبيا
Oil Corp denies 2026 budget figures
The National Oil Corporation of Libya clarified that the data circulating regarding its operational budget and Emirati expenditures are inaccurate. It confirmed that the amount spent from the first installment, totaling 2 billion dinars, amounted to 1.7 billion dinars, within an approved operational budget of 12.6 billion dinars aimed at maintaining production. It also indicated that more than 55% of these expenses were focused on production operations and well maintenance, including costs related to operational expenses, insurance, rentals, technical services, and training. The agency emphasized that all expenditures have been reviewed and audited by oversight bodies, and that a significant portion of the spending is dedicated to ensuring the safety of investments and achieving production sustainability. It also condemned the circulation of "distorted" data and called on media outlets to rely on official sources.
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