Libya’s NOC still struggles to pay for fuel imports

Issue 279 - 12 Jun 2014
International oil trading and refining companies that supply Libya with much of its diesel and gasoline continue to deal with delayed payments and increasing levels of financial risk caused by the failure of the Central Bank of Libya (CBL) to transfer enough money to National Oil Corporation (NOC) to enable it to pay for imports. This situation has lasted for several months and appears to be a side effect of the dysfunction which has paralysed the administration following the fall of prime minister Ali Zeidan’s government in early March and the failure to establish a credible replacement.

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