National Oil Corporation Chairman Masoud Suleiman met with US State Department Senior Advisor Jeremy Berndt in Tripoli to discuss appointing an international consultancy to monitor NOC's budget, aiming to improve transparency and efficiency in Libya's oil sector.
The Chairman of the National Oil Corporation (NOC), Masoud Suleiman, has held talks with Jeremy Berndt, Senior Advisor for Libyan Political Affairs at the US State Department, on the potential appointment of an international consulting office to oversee the implementation of the NOC's budget. The meeting took place at the NOC's headquarters in Tripoli and was announced by Suleiman on his personal social media account.
According to Suleiman, the discussion forms part of ongoing efforts by the NOC to strengthen cooperation with international partners and support the development of Libya's oil and gas sector. The two officials reviewed a range of topics related to the energy sector, focusing on ways to enhance collaboration and share expertise to help the NOC maintain operational stability, improve performance, and build sector capacity.
Focus on Transparency and Resource Management
A central topic was the proposal to assign a specialized international consultancy to monitor the execution of the NOC's budget. Suleiman emphasized that such oversight is intended to ensure the proper use of resources, increase spending efficiency, and reinforce transparency and governance in the delivery of projects and programmes aimed at advancing the sector.
Broader Context for Libya's Oil Sector
This initiative comes as Libya continues to seek greater stability and accountability in its oil sector, which remains the backbone of the national economy. The move to involve international consultants reflects a broader trend among Libyan institutions to improve governance and attract external expertise. Similar efforts to enhance oversight and transparency have been seen in other sectors, such as the recent signing of contracts for new housing units in Misrata under the Prime Minister's Housing Initiative, as reported in coverage of the National Housing and Real Estate Development Programme.
What to Watch Next
Should the NOC proceed with appointing an international consultancy, the effectiveness of this oversight in improving budget implementation and sector governance will be closely monitored by both domestic and international stakeholders. The outcome may influence future approaches to transparency and efficiency across Libya's state-owned enterprises.
