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Tag: audit bureau

Shakshak Reviews the Performance of the Libyan Foreign Investment Company

Written by Amira Cherni on . Posted in News. No Comments on Shakshak Reviews the Performance of the Libyan Foreign Investment Company

On Tuesday, the head of the Audit Bureau, Khaled Shakshak, along with deputy Atiyat-Allah Abdel Karim, met with the general manager of the Libyan Foreign Investment Company, Mousa Atik, to review the company’s performance, future plans, and challenges it faces.

The meeting addressed the company’s assets and their evaluation, internal auditing, and the development of its human resources. It also discussed the work of the investment and compliance departments, the company’s four-phase strategic plan for the coming years, as well as governance, approved regulations, and proposed regulations pending approval.

The meeting concluded with the need to continue implementing governance manuals, updating and approving regulations, and setting up a meeting between the Libyan Investment Authority and the Libyan Foreign Investment Company to approve the governance manuals.

Dbeibeh, Shakshak, and Officials Discuss Energy Sector Development and Fuel File

Written by Amira Cherni on . Posted in News. No Comments on Dbeibeh, Shakshak, and Officials Discuss Energy Sector Development and Fuel File

Prime Minister Abdul Hamid Dbeibeh held a meeting on Monday with the head of the Audit Bureau, Khaled Shakshak, the Minister of State for Cabinet Affairs, the Chairman of the National Oil Corporation, the head of the Libyan Investment Authority, and directors of oversight departments for sovereign sectors, energy, public companies, investments, and banks.

The meeting focused on discussing several investment projects aimed at developing the energy sector and increasing oil and gas production. Emphasis was placed on monitoring legal and technical procedures to reactivate the Ras Lanuf refinery, which has been halted since 2013, following the purchase of the foreign partner’s share. The need to upgrade aging pipelines to support the National Oil Corporation’s plan for increased production was also highlighted.

Additionally, the meeting addressed the mechanism for fuel payment for 2025, setting controls on quantities and supply methods, and resolving this issue. They also discussed activating the Bab Tripoli investment project, which is vital for improving services for citizens, in line with the Audit Bureau’s proposed regulations. The importance of increasing transparency and disclosure in all contracting procedures related to the oil sector was emphasized.