Libyan Union of Oil and Gas Workers opposes transferring oil revenues to outgoing PM Dbeibeh’s cabinet

The Union of Oil and Gas Workers rejected on Saturday transferring the country’s revenues of oil exports to the government of Abdul Hamid Dbeibeh, Libya Update reports.

The union’s reaction came following the request made by Head of the Audit Bureau, Khaled Shakshak, inviting the National Oil Corporation (NOC) to transfer oil revenues to Dbeibeh’s government.

Libya’s legislature in February, replaced Dbeibeh and appointed former Interior Minister Fathi Bashagha, arguing that his term came to an end on Dec. 24. Dbeibeh has refused to relinquish power.

The Union denounced the request and particularly criticized Shakshak, accusing him of violating the law by issuing such decision when his tenure in office has expired.

The Union also pointed out that Dbeibeh’s government should not be entrusted with oil money since “it operates in only one city, and it lacks administrative, financial and security control over production sites and export sites alike.”

Last week, Shakshak said blocking oil revenues by the National Oil Corporation (NOC) in the last months was unusual and against state laws.

“The Central Bank of Libya (CBL), in this situation, won’t be able to transfer foreign currency because of the blockage by the NOC and the only way is to use deposits overseas which can devalue the dinar,” he said.

The Speaker of the House of Representatives (HoR), in a letter, urged the NOC Chairman Mustafa Sanallah to block oil revenues away from the CBL so the unity government cannot use the money, and to allow the government to spend for subsidies and salaries only.