Tag Archives | Libyan Emirati Refining Company (Lerco)

NOC wins Arbitration on Ras Lanuf Refinery

By John Lee. The National Oil Corporation (NOC) has announced what it describes as "the successful conclusion of arbitration" regarding the 220,000 bpd-capacity Ras Lanuf oil refinery. Trasta Energy, a subsidiary of the Emirati Al Ghurair Investment Group, and the Libyan Emirati Refining Company (LERCO), the company which owns and operates the Ras Lanuf Refinery […]

NOC to Review Ras Lanouf Refinery JV

Libya's state-run National Oil Corporation (NOC) has agreed to review its joint venture with its UAE partners in the Ras Lanuf [Ras Lanouf] refinery, according to Libya Herald. The announcement followed demonstrations outside NOC’s Tripoli headquarters by refinery workers demanding that the government reject a 20-month extension to the existing agreement with the Libyan Emirati […]

Ras Lanuf Refinery "Declares Force Majeure"

CNBC Arabia reports that the Ras Lanuf refinery -- Libya's largest -- has declared force majeure until 7th March as it continues to suffer from the effects of a strike and power cuts. The plant had resumed export of some petroleum products, but several traders said they had been notified to the decision. It has […]

Al Ghurair: No Plans to Sell Stake in Ras Lanuf

Gulf Business reports that UAE group Al Ghurair says it has no intention yet of selling its half ownership of Libya’s biggest refinery, Ras Lanuf. “We are committed to our investment,” Vice Chairman Essa Al Ghurair (pictured) said on Tuesday. His company had planned to invest an additional $2 billion to upgrade the facility, but due […]

Libya’s Largest Refinery Re-Starts Operations

Libya’s largest oil refinery, Ras Lanuf [Ra's Lanuf], has finally started operations following its shut-down during last year's revolution. The refinery, which is reported to be operating at 50 per cent capacity, was offering two cargoes of jet fuel for loading in September, reports Reuters. According to Libya Herald, with a total processing capacity of […]

NOC Refuses to Confirm or Deny Refinery Restart

According to the Libya Herald, the National Oil Corporation (NOC) is refusing to confirm or deny reports that the Ras Lanuf oil refinery will resume operations by 28th August. “I cannot confirm or deny anything because I have no information about this”, a NOC spokesman told the Libya Herald. Repeated announcements have been made regarding […]

Libya's Largest Refinery to Restart by 28th August

A trading manager at Libya's National Oil Corporation (NOC) has told Reuters that the country's largest refinery, Ras Lanuf [Ra's Lanuf], will restart production by 28th August. The prolonged closure of the plant caused shortages of jet fuel and naphtha, among other products, in the Mediterranean area, while freeing up additional volumes of light sweet […]