LA VALLETTA (MALTA) (ITALPRESS/MNA) – Libya is set to resume oil production and exports on Monday, following the approval of a key agreement by the Libyan House of Representatives concerning the appointing new leadership for the Central Bank of Libya. Abdulhadi Al-Saghir, the Housès representative in negotiations over the Central Bank, confirmed that once the agreement is ratified, oil fields will reopen and production will resume immediately. This marks the end of a period of shutdowns that had disrupted Libyàs vital oil sector. In an interview with “Erem News Business”, Al-Saghir revealed that the agreement consists of seven provisions, all of which are expected to be endorsed by the House with a majority vote in its session in Benghazi. Once the Central Bank governor and his deputy are installed and begin their duties without any obstacles, Libyàs oil production and exports will proceed as planned. Al-Saghir’s comments align with those of Stephanie Khoury, the head of the United Nations Mission in Libya. Both emphasised the urgent need to lift the closures of oil fields, which have significantly hindered the country’s oil production and exports. They stressed the importance of channelling oil revenues through the appropriate institutional frameworks, specifically the Central Bank of Libya.
The reopening of oil fields is expected to boost Libyàs economy and bring much-needed stability to its financial system, especially after the prolonged political divisions that have plagued the country. Arab and Western nations have expressed support for progress facilitated by the United Nations mission in Libya, leading to a compromise between Libyan factions on appointing new leadership for the Central Bank of Libya. In a joint statement from the governments of the United States and Italy, senior officials from Algeria, Egypt, France, Germany, Morocco, Qatar, Turkey, and the United Kingdom also participated in talks, which took place on the sidelines of the United Nations General Assembly.
– Photo Agenzia Fotogramma –
(ITALPRESS).
