Libya’s Central Bank blocks national oil company budgets
By the AFREEQUE newsroom, based on Libya Herald
Libya’s Central Bank is withholding the approved budgets of the National Oil Corporation, which says it transferred $1.23 billion by 13 October 2026. The block jeopardises payments owed to international oil services companies, production and maintenance projects, the Libya Herald reports.
The Central Bank of Libya is withholding the National Oil Corporation’s (NOC) budgets, which publicly denounced it on 15 October, the Libya Herald reports. The NOC says it transferred $1.23 billion to the Libya Foreign Bank, which is affiliated with the central bank.
The Central Bank says it received only around $361 million from the company. The discrepancy concerns the oil revenues declared up to 13 October. The NOC referred to the withholding of its budgets in a statement devoted to the controversy.
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Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
