The National Oil Corporation today said the Presidency Council did not have the legal power to change or limit the authorities, duties and responsibilities of NOC.
“I have asked the Presidency Council to withdraw its recent resolution,” said NOC chairman Mustafa Sanalla. “It has exceeded its authority. Only the House of Representatives, the legislature, has the power to make these changes. This is because NOC's authorities, responsibilities and duties are based on its Articles of Association which were issued as a law by the legislature under No .24/1970
And No .10/1979
“NOC has long supported the establishment of a genuine government of national accord able to speak for all Libyans,” said Sanalla. “Until we have a political settlement, our duty is to administer the country’s oil resources in trust for benefit of the nation. The proper administration of our oil resources is vital to the future stability of the country.”
27 March 2017