Madar (Tripoli) - Libya's Audit Bureau said on Friday, October 16, 2026, that oil revenue collected in the National Oil Corporation's accounts at the Libyan Foreign Bank (LFB) totalled about $1.448 billion between October 1 and 15, according to a statement carried by the official LANA news agency, following a public dispute between the Central Bank of Libya (CBL) and the NOC over the figures.
Of that amount, about $864.6 million went to the fuel account to cover domestic needs, while the LFB transferred some $577.4 million to the central bank over the same period, the bureau said. Based on invoice due dates, it projected total oil export receipts of about $3.215 billion by the end of October.
The bureau also cited outstanding obligations of about $1.55 billion to the LFB linked to fuel imports, arising from letters of credit and overdrafts on the fuel account, which it said must be settled before year-end. It urged sovereign institutions to ensure "complete accuracy and transparency" in publishing financial data, warning that confusion feeds speculation on the parallel currency market.
The bureau said its head had issued Decision No. 639 of 2026 on October 1, forming a committee of the Audit Bureau, the CBL, the finance ministry, the NOC and the LFB to reconcile figures and standardise reporting. Also on Friday, the NOC published an explanation of its fuel supply mechanism, saying the gap between revenue earned and money reaching the central bank reflects letters of credit for fuel imports under Cabinet Decision No. 525 of 2026.
The CBL had said only $361 million in oil revenue reached its accounts between October 1 and 14, while the NOC said it had transferred about $1.23 billion to the sovereign account by October 13 and called on the Attorney General to investigate. The Libya Herald reported that the dinar has broken through the psychological mark of 10 dinars to the dollar.
