Tag Archives | Yara

LifeCo Gas Supply Suspended pending Debt Payment

The National Oil Corporation (NOC) has confirmed the suspension of natural gas supply to the Libyan Norwegian Fertiliser Company (LifeCo) pending settlement of unpaid debts. In a statement, NOC said: “NOC management has attempted to resolve the issue through various consultations aimed at rooting out corruption and ensuring operational continuity at LifeCo plants. NOC has […]

Yara Books $112m Libya Impairment

Norwegian fertiliser producer Yara International is to write down the value of its Libyan plant by $112 million, due to the deteriorating security situation. In a statement, the company said: “Due to the worsening security outlook in Libya, Yara sees a high likelihood of a further deterioration in 2015 of the operating ability of the […]

Norwegian Execs Deny Corruption

Four members of Norwegian fertiliser giant Yara International’s former management team have pleaded not guilty before Oslo district court to charges of “aggravated bribery” in Libya and India. The company’s former CEO Thorleif Enger was charged alongside ex-upstream head Tor Holba, former Chief Operating Officer Daniel Clauw and ex-Chief Legal Officer Kendrick Wallace. Yara has already […]

Fertilizer Company Resumes Operations

The Norwegian fertilizer producer Yara International ASA has said that its Libyan Norwegian Fertilizer Company (Lifeco) has re-started operations at its ammonia plant in Marsa el Brega. The company said that “a controlled shut-down was carried out in January due to a local militia blocking the site“. (Source: Yara)

Yara Ex-CEO Indicted for Libya Corruption

Bloomberg reports that Four members of Yara International’s former management team have been indicted for gross corruption in Libya and India. The fertilizer maker’s former CEO Thorleif Enger was charged alongside ex-upstream head Tor Holba, former Chief Operating Officer Daniel Clauw and ex-Chief Legal Officer Kendrick Wallace, Norway’s the Norwegian National Authority for Investigation and […]

Yara Says Investigation Confirms Unacceptable Payments

Norwegian fertilizer producer Yara International ASA confirmed Friday that it had made “an unacceptable payment” of $1 million in India in 2007, as well as “unacceptable offers of payments” in Libya, after an internal investigation into possible irregularities.”It is disappointing to confirm that unacceptable payments have been made from Yara, but I am nevertheless satisfied […]

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Leaked Gaddafi-era documents expose the need for urgent oil reforms

Global Witness has obtained Gaddafi-era documents that detail the mismanagement of millions of dollars of Libyan oil revenues and highlight murky practices by Libya’s state-owned National Oil Company (NOC).   The revelations, contained in a report published in its entirety today by Global Witness titled “An Annual Report by the Control Board for 2010” (the “Report”), […]