The Presidential Council (PC) has allocated 1.5 billion dinars for the National Oil Corporation (NOC), in order to increase the production capacity of the oil and gas sector and pay obligations of the NOC’ operating companies.
According to the decree, the expenses would be covered by the taxes on foreign exchange sales.
The Central Bank of Libya (CBL) shall deposit the amount stipulated in the resolution from the Emergency Account in the CBL, according to a detailed plan prepared by the NOC.
