Saturday, 28 April 2012

Brian Whitaker's blog, April 2012: Libya: a scandal at the oil refinery?

Libya's largest oil refinery, in Ras Lanuf, has been closed since the uprising against Colonel Gaddafi and will remain closed for at least another month while the company that operates it is restructured,
the Tripoli Post reports.

Behind this rather bland announcement is a controversy that has been rumbling ever since the refinery was put into the hands of the Libyan Emirati Refining Company (Lerco) in 2009. Lerco is jointly owned by the Libyan state's National Oil Corporation (NOC) and the Dubai-based Al Ghurair group.

Opening up the refinery to private investment by Al Ghurair was "one of the most controversial business decisions at the time," the Tripoli Post's report says.

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