Libya’s outstanding debt to fuel supply companies has reportedly surged to $1 billion, according to data from sources cited by Bloomberg on Wednesday.
The report suggests that this debt could triple if Libya fails to meet its financial obligations by the end of 2025.
In April, Masoud Suleiman, the head of the National Oil Corporation (NOC), informed Prime Minister Abdul Hamid Dabaiba of the Government of National Unity about halting fuel purchases via exchange agreements. However, he urged the swift disbursement of foreign currency to enable the NOC to settle its financial commitments for fuel supplied in March, April, and May of the current year, for which payment has not yet been made to the suppliers.
