Libya "needs $60bn" to overhaul Energy Infrastructure

By John Lee.

Libya needs up to $60 billion in investment to revive its energy industry, according to a report from The National.

It quotes National Oil Corporation (NOC) chairman Mustafa Sanalla as saying that $40 billion is required to raise refining capacity to a million barrels per day, with another $20 billion needed over the next five years for development of upstream infrastructure.

He added that talks are underway with the UK energy services firm Wood Group to prepare a study on overhauling the country’s refining assets, with plans for grassroots integrated refining and petrochemicals plants.

(Source: The National)

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