The Libya Africa Investment Portfolio (LAIP) reported today that its subsidiary, the Libya Oil Joint Company, received, on Sunday, 9 June, a team of experts from the United Nations tasked with discussing some important topics with various Libyan institutions.
Overview of Libya Oil
LAIP reported that its Chairman, Khalifa Al-Shaibani, held a meeting with the UN team, where they reviewed the history of the company’s establishment, the nature of its work, the mechanisms of its management, its role as a company for marketing petroleum products in the Libyan market, as well as the size of its workforce, and the company’s wide geographical spread through a huge network of stations spread in strategic locations throughout the Libyan.
These include 307 stations between company owned and privately owned, linked by operating and supply contracts. These provide various services, including the sale and distribution of fuel, the provision of related products of various industrial oils and greases, in addition to the company’s possession of a mobile fleet equipped to transport and distribute oil and gas products on demand.
Commitment to the legal legislation and administrative standards
During the meeting, the Chairman of Libya Oil Joint Company stressed the company’s commitment to the legal legislation and administrative standards governing institutional work in Libya. He stressed the company’s keenness to organize the distribution of fuel in a way that ensures its smooth provision to citizens throughout the Libyan territory. He also reviewed aspects of the company’s cooperation with all fuel crisis committees and agencies concerned with following up the distribution of fuel.
LAIP’s role
Chairman Al-Shaibani also revealed to the team of experts the role of LAIP in following up the work of Libya Oil, and LAIP’s relentless endeavour to develop and raise the efficiency of Libya Oil’s stations in line with the requirements and ambitions of the Libyan markets, as well as in line with recognized international standards.
UN team commended Libya Oil
The Chairman welcomed the cooperation with the UN team of experts in a way that ensures the preservation of national sovereignty and respect for the privacy of Libyan institutions.
LAIP reported that the meeting lasted for nearly two hours, concluding with the Panel of Experts praising the warm reception and commending Libya Oil Joint Company’s commitment to professional and legal controls in its responses to their inquiries.
