Libya’s state National Oil Corporation (NOC) discussed the results of the study conducted by US company Honeywell UOP (Universal Oil Products) on the economic feasibility of developing the Zawia Oil Refining Company and modernizing its operating systems.
The discussions took place yesterday during an expanded meeting held at the NOC’s Tripoli headquarters by its chairman and members of the Board of Directors, along with the Chairman and members of the Management Committee of the Zawia Oil Refining Company.
”Encouraging report” – meeting local petrol needs, saving on subsidies, petrol imports
The meeting reviewed the results presented by the company, describing them as very encouraging. The results, the NOC reported, confirmed the potential for developing and modernising the Zawia refinery to produce and meet a significant portion of the local market’s petrol needs.
This would save the substantial financial resources allocated to subsidise petrol imports and achieve economic stability in this regard.
The meeting also discussed the development of the oil industry in Libya in general, emphasizing the need to regularly and timely conduct periodic maintenance of refineries and their accessories to ensure continued production and prevent disruptions or temporary shutdowns.
