Summary:

On 13 October 2026, Libya’s National Oil Corporation (NOC) disputed figures released by the Central Bank of Libya (CBL) showing that the NOC had received approximately $361 million in oil revenues.  

The NOC said it had transferred more than $1.23 billion to the sovereign account at the Libyan Foreign Bank, explaining that payments for fuel import letters of credit were deducted before the remaining balance was transferred to the CBL. 

The corporation also accused the CBL of withholding its approved budgets and called on the Prosecutor General to investigate the discrepancy. The dispute follows a UN briefing on the financial pressure caused by Libya’s fuel subsidy system and rising international fuel prices. 

Outlook: 

The dispute highlights how disagreements over revenue reporting and fuel import financing are deepening mistrust between Libya’s sovereign institutions. The gap between the figures reported by the NOC and CBL raises questions about the transparency of oil revenue flows, particularly when deductions for fuel imports complicate the reconciliation of funds. 

The NOC’s allegation that the CBL is withholding its budgets also points to a wider struggle over control of public finances, with potential consequences for the corporation’s ability to maintain production and fund infrastructure projects. An independent investigation could clarify the discrepancy, but the dispute underscores how fragmented financial oversight continues to complicate accountability in Libya’s oil-dependent economy. 

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