The National Oil Corporation affiliated with The Libyan Interim Government emergent from House of Representatives(HoR) stands firmly against the decree issued by the unconstitutional Presidential Council which dictates that the Ministry of Oil and Gas will be terminated and referring it’s operations to this unconstitutional council whom is not authorized to make such decisions in accordance to article 8 of the presidential agreement. Not to mention that it is paramount that all the unconstitutional Presidential Council’s decisions need to be agreed upon unanimously.
And NOC emphasizes that it is a sovereign corporation and not one of the unconstitutional Presidential Council’s executive managements.
NOC also confirms that it follow all the procedures issued by the legal entities, headed by HoR as the only legislative power in the country and the committee of energy which is entitled in this regard.
NOC holds all entities and parties that make contracts without NOC’s permission legally responsible, due to these contracts being invalid as long as they don’t adhere to procedures and regulations issued by their respective entity, which is NOC, and it’s quarter in Benghazi. NOC also respects and honors all of its contracts that adhere to regulations and are made/will be made for the benefit of Libyans and the Libyan country.
National Oil Corporation’s Board of Directors
Issued in Benghazi, 28 Mar, 2017