No Result
View All Result
Sunday, May 28, 2023
22 °c
Tripoli
23 ° Mon
22 ° Tue
21 ° Wed
21 ° Thu
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libya to construct refineries in regions through local and foreign PPP

bySami Zaptia
April 25, 2021
Reading Time: 2 mins read
A A
21
SHARES
90
VIEWS
Share on FacebookShare on Twitter

By Sami Zaptia.

Libya is considering constructing two new refineries through PPP to make up its shortfall (Photo: Brega refinery archives)

London, 25 April 2021:

Libya is studying the construction of oil refineries in various regions through local and foreign Public Private Partnership (PPP) ventures.

The news was revealed yesterday after its Minister of Economy and Trade, Mohamed Hwej, held a meeting with the Minister of Oil and Gas, Mohamed Aoun, yesterday at the Economy Ministry in Tripoli.

The meeting discussed the importance of establishing oil refineries in different areas to produce fuels and convert natural gas into high-quality diesel in order to cover domestic demand. The meeting also discussed the role of government and ministries in stimulating investment in the oil industries sector in partnership with the local and foreign private sector.

RELATED POSTS

Libya discusses with Chinese companies return to work

Benghazi conference on PPP issues its 22-point recommendations

The Minister of Economy and Trade emphasized that the government, through its competent ministries, will take all the legislative and executive measures and measures necessary to support these projects, provide facilities for local and foreign private companies, and provide technical support for them. These will be in cooperation with specialized national companies to implement these projects in different areas, to be determined according to needs, in order to achieve local fuel production instead of importing fuel.

Background

It will be recalled, however, that the plan to build new regional refineries is not new. On 30 October 2013, the then Prime Minister Ali Zeidan announced that a decision had been taken by his government to build two new oil refineries.

The larger of the two refineries with a capacity of 300,000 barrels would be built in Tobruk while the smaller one with a 50,000 barrels capacity would be in the southern town of Ubari. Zeidan had stressed that these would be to produce fuel for local consumption.

Decentralization, diversification and import substitution

Building new refineries would tick many boxes. It is one of the easiest and obvious means of diversification of incomes and reducing the cost of imports such as refined fuel products.

Libya needs to develop its downstream capacity in order to take advantage of its natural local advantages would help the economy and diversification.

The announcement by Zeidan that the Ubari refinery would have a capacity of only 50,000 barrels, however seemed at odds with expert views that refineries need to be of a capacity of at least 300,000 to make them commercially competitive.

It is unclear why its capacity is not increased for possible export to sub-Saharan Africa, for example.

 

Thinni discusses building two new oil refineries with foreign company | (libyaherald.com)

Two new oil refineries approved – Zeidan | (libyaherald.com)

Libya needs to build world class refineries – RPS Energy | (libyaherald.com)

 

 

Tags: featuredPPP Public Private Partnershiprefineries
Share8Tweet5Share1

Related Posts

Expected Resumption of Commercial Activity of Libyan Merchants in Tunisia, while Two Tunisians Were Injured by a Nalut Local
Business

The Tripoli Libyan Ministry of Transport confirms development plan for Libya-Tunisia Ras Jedir border crossing

May 27, 2023
NOC condemns Friday’s Mitiga aviation fuel depot shelling, evacuates staff
Business

An instant 350 cylinder per hour cooking gas filling station opened in Jalo

May 27, 2023
NOC announces force majeure at Zawia port
Business

NOC completes strategic project to increase local gas supply and clean pipelines

May 27, 2023
Turkish business delegation meets Economy Minister Hwej: Invited to participate in state and private sector development projects
Business

Turkish business delegation meets Economy Minister Hwej: Invited to participate in state and private sector development projects

May 27, 2023
Libya’s Al-Ghazala Misrata Paints Factory opens first showroom in Niamey, Niger
Business

Libya’s Al-Ghazala Misrata Paints Factory opens first showroom in Niamey, Niger

May 25, 2023
Aldabaiba stresses need to activate agricultural projects in cooperation with private sector
Business

Acting Agriculture Minister Gatrani discusses cooperation with WFP

May 24, 2023
Next Post

NOC lifts force majeure on Hariga after government allocates it LD 1 bn to pay its debts

Sixt car rental opens Mitiga airport branch

Sixt car rental opens Mitiga airport branch

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU

    Tripoli Libyan government conducts drone strikes against criminal hideouts in western coast

    112 shares
    Share 45 Tweet 28
  • Libya loses US$ 5 bn annually due to illegal Tuna fishing within its territorial waters

    97 shares
    Share 40 Tweet 24
  • Libya and Austria discuss reopening airspace

    76 shares
    Share 33 Tweet 18
  • US Embassy in Tripoli announces easing of visa protocol: One-year multiple entry visas now replace three-month single-entry visas

    95 shares
    Share 53 Tweet 18
  • Tripoli-based Libyan prime minister opens 13th Libya Build displaying 260 exhibitors

    64 shares
    Share 26 Tweet 16
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

The Tripoli Libyan Ministry of Transport confirms development plan for Libya-Tunisia Ras Jedir border crossing

An instant 350 cylinder per hour cooking gas filling station opened in Jalo

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?