Tag Archives | Norway

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 […]

Ponticelli to Pull Out of Libya

French pipeline company Ponticelli to pull out of Libya because of insecurity, according to a report from UPI. Libya Herald says the company pulled out the last of its 43 employees working at the Mabrouk field in the Sirte Basin at the end of March. It has been a subcontractor for Mabruk Oil, the joint […]