Libya’s NOC Rejects Government Decree Seeking Control over Oil

Libya’s National Oil Corporation has lashed out against the Government of National Accord, which issued a decree effectively giving it more control over the country’s oil wealth this weekend . The GNA said in the decree that it will now supervise investments in Libya’s oil sector and will have the power to approve and cancel contracts. This sparked outrage in NOC, which has been the single handler of the country’s oil wealth since it disintegrated into chaos after the toppling of Muammar Gadaffi, and is now unwilling to…