Tag Archives | Petroplus

Libyan Firm May Buy French Refinery

Libyan firm Murzuq Oil is reported to be one of two bidders short-listed by administrators to buy the troubled Petit-Couronne refinery in Normandy, France. The fate of the 154,000-barrel-a-day refinery has been uncertain since Swiss-based Petroplus filed for insolvency in January 2012. The offers from Murzuq Oil and Dubai-based Netoil, will be sent to the […]

Libya Will Not Buy Petroplus Refinery

Speaking to France Inter radio today, French Foreign Minister Laurent Fabius said that Libya’s sovereign investment fund, the Libyan Investment Authority (LIA), will not invest in the Petroplus refinery at Petit-Couronne in Normandy: “Unfortunately, it wasn’t finalized ... It’s too bad, because the idea that a country like Libya that produces a lot of crude could […]

France Releases $2bn Frozen Libyan Assets

As it looks to secure investment from Libya, France says it is ready to start releasing almost $2 billion in frozen assets belonging to the Libyan Investment Authority (LIA), Libya's sovereign wealth fund. Speaking to Libya's General National Congress (GNC), France's Foreign Minister Laurent Fabius said: "France is committed through me to immediately begin unfreezing the […]

France to Invest in Petroplus with Libya?

Reuters reports that France is considering investing along with the Libyan Investment Authority (LIA), Libya's sovereign wealth fund, in the Petroplus plant at Petit Couronne, in Normandy. Industry minister Arnaud Montebourg, keen to secure a rescue of the oldest refinery in France, visited Libya on Monday along with French foreign minister Laurent Fabius. Montebourg, who […]

Libyan Fund to Buy French Refinery?

Libya's sovereign wealth fund, the Libyan Investment Authority (LIA), is reported to be interested in taking over the Petroplus oil refinery in northwestern France, which is currently in bankruptcy proceedings. France's Industry Minister Arnaud Montebourg told RTL Radio that he had received a letter from the fund saying they would like to examine the possibility […]