NOC Chairman Talks Key Issues with Parliamentary Energy Committee Members
This morning, December 3, 2025, Engineer Suleman Masoud, Chairman of the NOC’s Board of Directors, met with members of the Libyan Parliament’s Energy Committee, led by Mr. Issa Al-Oraibi. The meeting focused on several important issues affecting the oil sector, particularly the public bid process. The Chairman offered a thorough briefing on the bid, emphasizing its significance and the strong interest it has attracted from major international energy companies.
The meeting also covered mechanisms for fuel supply and assessing the needs of the local market. Suleman emphasized that the NOC will adopt transparent and ethical procedures to ensure local market needs are met. Further, it will implement a system to determine these fuel requirements and focus on developing local refineries to meet those needs to reduce reliance on external sources.
The Chairman of the Board also offered a detailed overview of the revenue transfers from the NOC to the Central Bank of Libya, discussing crude oil prices, and the declines and fluctuations that have occurred this year. He stressed that the NOC is committed to prioritizing revenue transfers to the sovereign account, in accordance with the regulations and laws.
He further explained that the NOC has not received its budget for the current year, 2025, except for salaries. Despite budget constraints and the absence of funding to support these initiatives, he outlined the NOC’s promising development plans, which focus on oil and gas field projects and related industries. This is particularly pressing as the NOC faces rising domestic demand for gas, coinciding with a natural decline in reservoirs that has led to reduced gas production, making the development of gas fields an urgent priority.
Suleman addressed the conditions of the sector’s employees, who are the backbone of the production process. He praised their efforts, which have achieved a satisfactory annual average in production, despite the limited resources available to support an increase that matches their hard work.
The meeting highlighted the urgent need for innovative solutions through collaboration between the legislative and executive branches. This cooperation aims to strengthen the NOC and secure funding for the oil sector to enable the completion of maintenance tasks, logistical operations, and the development of oil and gas fields as well as petrochemical projects.
