pakistan
Libya aims to restart Ras Lanuf oil refinery within a year, NOC says
Key takeaways
- The Ras Lanuf oil refinery, Libya’s largest, has been idle since 2013 amid an arbitration dispute between NOC and its Emirati partner in the plant Trasta.
- NOC said on Monday it had signed a final agreement with Trasta to end the partnership, transferring the Ras Lanuf complex and refinery to full Libyan ownership and control.
- “The budget was allocated,” Suleman said regarding the restart, adding NOC had the manpower and equipment needed for maintenance, which he expects will cost about $60 million.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Libya aims to restart its 220,000-barrel-per-day Ras Lanuf oil refinery within six to 12 months to supply the domestic market, National Oil Corporation (NOC) chairman Masoud Suleman told reporters in London on Wednesday.
The Ras Lanuf oil refinery, Libya’s largest, has been idle since 2013 amid an arbitration dispute between NOC and its Emirati partner in the plant Trasta.
NOC said on Monday it had signed a final agreement with Trasta to end the partnership, transferring the Ras Lanuf complex and refinery to full Libyan ownership and control.
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