Two New Oil Refineries Approved

Prime Minister Ali Zeidan (pictured) has announced the building of two new oil refineries to produce for local consumption.

Libya Herald reports that the larger of the two refineries, with a capacity of 300,000 bpd, would be built in Tobruk, while the smaller one with a 50,000 bpd capacity would be in the southern town of Ubari.

According to the report, the announcement that the Ubari refinery would have a capacity of only 50,000 bpd seems at odds with advice that refineries needed to be of a capacity of at least 300,000 bpd to make them commercially competitive.

(Source: Libya Herald)

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