Today, during its third regular meeting, the National Oil Corporation Budget Monitoring Committee followed up on previous commitments in the exceptional budget as part of the Corporation’s plan to develop and increase production.
The meeting reviewed a report by the Audit Bureau on the commitments referred to the Corporation’s subsidiary companies, and ensured that they were settled legally.
The Corporation presented a detailed presentation on the nature of local and international commitments, the mechanism for their settlement, and what has been actually implemented based on the relevant documents.
The meeting concluded by emphasizing the need to settle all outstanding commitments on the Corporation to local and international companies so that it can be effective in the development plan and settle the financial situation of the Corporation’s subsidiaries by settling their outstanding commitments.