Libyan oil revenue and financial coordination disputes

In October 2026, the Central Bank of Libya (CBL) reported receiving $934 million in oil revenues, a figure that followed a period of rapid increases in reported deposits. This reporting occurred amidst a dispute with the National Oil Corporation (NOC) regarding revenue volumes and accounting methods. While the NOC claimed transfers reached $1.448 billion earlier in the month, the CBL maintained that its figures only reflected confirmed deposits in its accounts, noting that discrepancies were partly due to financial mechanisms involving fuel import cost settlements.

By November 2026, these reporting discrepancies between the NOC, the CBL, and the Audit Bureau highlighted a lack of a unified reporting framework. In response, a joint committee comprising the CBL, NOC, Ministry of Finance, and the Libyan Foreign Bank was established to reconcile data. Additionally, the Ministry of Finance addressed broader economic challenges by restoring the customs dollar rate to 2.12 LYD per US dollar, reversing a recent increase to 4.80 LYD that had proven difficult to implement consistently across the country’s borders and ports.