Fathi Bashagha, head of the new Libyan “stability” government, called on the National Oil Corporation to submit proposals on mechanisms for preserving its revenues, in an attempt to prevent financial returns from the interim Libyan “unity” government and force it to relinquish power.
In an urgent message he sent yesterday evening to Mustafa Sanalla, head of the Petroleum Corporation, Bashagha stressed the need to resume oil production and export as soon as possible. He expressed his government’s readiness to complete all necessary procedures to adopt mechanisms related to the reservation of oil revenues, and said that the demands of the protesters in the Oil Crescent region are “legitimate, and they have the right to object to the currently approved mechanisms for disposing of oil sales revenues.”
On the other hand, Bashagha considered that “closing the oil fields and ports will not solve the problem, but rather will disrupt the work of the institution, and negatively affect production.”
Bashagha added that his government “continued, as part of its efforts to end the crisis of suspending oil production and export, and the serious damage it causes to the financial position of the Libyan state and the infrastructure of the oil sector, with a number of parties, and listened to the protesters’ objection in the oil crescent region to the mechanisms for disposing of oil revenue funds.” And the absence of transparency in the distribution, employment and management of these funds without any legal basis.”
And the head of the “stability government” added that “the matter requires agreement on specific and disciplined mechanisms, which ensure that oil revenues are kept in the accounts of the National Oil Corporation, and that they are not referred until the issuance of the budget law by the House of Representatives.”