By John Lee.
The National Oil Corporation (NOC) has said the Presidency Council does not have the legal power to change or limit the authorities, duties and responsibilities of NOC.
NOC chairman Mustafa Sanalla (pictured) said on Monday:
“I have asked the Presidency Council to withdraw its recent resolution ... 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. 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.”
His comments come after the Presidency Council said it was assuming the authority to supervise energy sector investment, including the approval or cancellation of contracts.
(Sources: National Oil Corporation, Reuters)