First shipment of urea from Lifeco since NOC takeover of Yara shares

By Sami Zaptia.

London, 18 February 2021:

The Libyan Norwegian Fertilizer Company (Lifeco) announced today that the vessel MARE I docked today to load the first export shipment of urea since it became a majority-owned Libyan company.

In January this year, the National Oil Corporation had taken over the 50 percent share of Yara in Lifeco to become the majority shareholder. This gave it 75 percent while the Libyan Investment Authority (LIA) still holds 25 percent.

Lifeco reported that the MARE I will load 5,000 metric tonnes.

NOC acquires Norwegian Yara’s 50 percent stake in Libyan-Norwegian Fertilizers Company | (libyaherald.com)

NOC suspends gas supplies to Libyan Norwegian Fertilizer Co. pending debt payment | (libyaherald.com)

Lifeco’s resumed fertiliser output boosts Norwegian partner Yara | (libyaherald.com)