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Libya’s Oil Field May Face Shutdown Over Central Bank Leadership Dispute

August 25, 2024
Libya's Oil Field May Face Shutdown Over Central Bank Leadership Dispute
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According to a report by Russia Today’s correspondent in Libya, the Council of Elders of the Oases has announced plans to shut down oil fields in southeastern Libya.

This decision is a response to the recent changes in the leadership of the Central Bank of Libya (CBL), marking a significant escalation in the region’s ongoing tensions.

The Council of Elders expressed their protest against what they described as the unfair distribution of resources across the regions.

They have vowed not to reverse their decision until an agreement is reached that ensures a fair distribution of the nation’s wealth among all regions.

This move comes amid a crisis at the Central Bank of Libya following the Presidential Council’s announcement of a new governor, which was met with rejection from both the House of Representatives and the High Council of State.

In this context, Aguila Saleh, the President of the Libyan House of Representatives, emphasized that the parliament has decided to continue with Siddiq al-Kabir as the governor of the Central Bank of Libya to ensure the completion of the bank’s unification process.

Libya’s Prime Minister Abdul Hamid Dbeibah has requested an increase in oil supplies to stabilize distribution and meet the necessary demands, amidst severe shortages in Tripoli.

This request was communicated in a letter from the State Minister for Cabinet Affairs, Adel Jumaa, to the Chairman of the National Oil Corporation (NOC), Farhat Bengdara. This committee is tasked with digging into alternatives for fuel subsidy reform.

The fuel crisis in Tripoli has led to long queues at distribution stations, as reported by Brega Oil Marketing Company, which also announced the arrival of several shipments to Libyan ports to help alleviate the situation.

Tags: Central BankLibya
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