No Result
View All Result
Saturday, July 12, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • 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

Ministry of Oil discusses investment by Libya Africa Investment Portfolio in two projects

bySami Zaptia
October 19, 2023
Reading Time: 2 mins read
A A
Libya and Shell discuss several areas of cooperation

The Minister of Oil and Gas, Mohamed Aoun, discussed the possibilities of the Libya Africa Investment Portfolio’s (LAIP) contribution to investment in the oil and gas sector in Libya.

The discussions took place during a meeting at the Ministry’s Tripoli headquarters Monday between the Minister and the Mustafa Abu Funas, Chairman of the Libya Africa Investment Portfolio, accompanied by Al-Taher Al-Arabi Belkheir, Chairman of the Supreme Advisory Committee of the Portfolio.

During the meeting, Abu Funas reviewed the projects and activities of the internal and external portfolio, and the possibilities of their contribution to investment in the oil and gas sector in Libya.

The meeting also discussed in detail two main issues:

  1. Establishing a supply base for oil marine operations in the Mellitah area, which is a project that was much delayed, as the oil sector is in dire need of this project, and LAIP was asked by the oil minister to expedite the completion of this vital project.
  2. Establishing the Zuwara oil refinery, which had previously been planned, as several studies were conducted in this regard, and a plot of land west of the Mellitah complex was selected and fenced off to establish this refinery.

The Minister of Oil also confirmed that in view of the high fuel import bill, necessity calls for accelerating the establishment of the refinery, and that the Ministry of Oil and Gas is fully prepared to provide all assistance to LAIP to complete this vital project for the country. The Ministry said that within its its legal powers, it will allocate the quantities of oil necessary to operate this refinery and make it permanently available.

RELATED POSTS

Committee for Libya Africa Transit Corridors Project convened with Niger Chargé d’affaires – agree to develop MoU

Acting Minister of Oil and Gas meets Shell delegation to discuss future partnership opportunities

These two projects were owned by LAIP and were transferred to the Internal Investment Fund by decision of the (Qaddafi era) General People’s Committee (cabinet) previously. Now it has been agreed between LAIP and the Internal Investment Fund to restore the projects that have been suspended since that date.

Tags: LAP LAIP Libya Africa Investment PortfolioMinister of Oil and GasOil Minister Mohamed Aoun GNU

Related Posts

CBL receives results from meetings with international banks
Business

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

July 11, 2025
Preparations for the second ‘‘Made in Libya’’ edition in Niamey, Niger progressing
Business

“Made in Libya” exhibition to be held in Benghazi from 10 to 13 August

July 11, 2025
Sirte and BACB to improve cooperation
Business

Sirte Oil completes drilling of horizontal well in Zilten field producing 1,985 bpd using local cadres

July 11, 2025
Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges
Business

Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

July 10, 2025
Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions
Business

Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

July 10, 2025
NOC announces force majeure at Zawia port
Business

Libyan Fertiliser Company’s urea plant achieves a 95 percent production rate

July 10, 2025
Next Post
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU

Libya establishes new maritime zone and extends its maritime border from 12 to 24 nautical miles

CBL fines Sahara and Gumhouria banks LD 100,000 each for financial irregularities

CBL agrees to support the LD black-market exchange rate

ADVERTISEMENT

Top Stories

  • Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement

    All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

    0 shares
    Share 0 Tweet 0
  • Libya Development and Reconstruction Fund signs contract with Turkey’s Ankamenia for maintenance of Benghazi University’s medical colleges

    0 shares
    Share 0 Tweet 0
  • Libyan olive oils win gold at Anatolian, Berlin and Japan 2025 international olive oil competitions

    0 shares
    Share 0 Tweet 0
  • Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
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

CBL workshop on ‎”The Role of the Banking Sector in Revitalising Stalled Housing Projects and Urban Development”‎ to be held in Tripoli on 13 July

Attorney General provides update on investigation of incidents resulting from Tripoli 2025 armed clashes and demonstrations

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.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

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

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.