Oil Firm Faces Heavy Debt Criticism
The management of Libya's oil sector is facing widespread criticism due to poor performance and a lack of transparency in decision-making. Oil expert Osman Al-Hadheri confirmed that the National Oil Corporation relies on favoritism and phone directives rather than institutional frameworks, which has led to a deteriorating financial situation for the Arabian Gulf Oil Company, with its debts rising from 800 million to nearly 6 billion dinars. He also clarified that the head of the institution received approximately 52 billion dinars without contributing to an increase in production. Additionally, he criticized the weak efficiency of sector leaders and the lack of cooperation with the Contract Review Committee, which was hindered by instructions preventing it from working independently.
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