Libya's oil chief resigns citing health concerns

Farhat Bengdara, chairman of Libya’s National Oil Corporation (NOC), has resigned due to urgent health issues, the NOC announced on Thursday. According to AFP, Prime Minister Abdulhamid Dbeibah accepted the resignation, and NOC board member Masoud Suleman has been named acting chairman.

Bengdara, appointed in 2022, previously served as Libya’s central bank chief under Muammar Gaddafi and held banking roles in the UAE. His tenure faced legal challenges; a Libyan court ruled in November that his appointment violated nationality laws, as he also holds Emirati citizenship.

Libya, home to Africa’s largest oil reserves, has struggled with political instability and frequent oil blockades since the 2011 uprising that toppled Gaddafi. Despite challenges, oil production rose to 1.4 million barrels per day in December, nearing pre-2011 levels of 1.5 million. The leadership change adds uncertainty to efforts aimed at stabilizing the sector crucial to Libya’s economy.