Libya’s National Oil Corporation to build new oil refinery

A general view shows an oil refinery in Libya’s northern town of Ras Lanuf on January 11, 2017 [ABDULLAH DOMA/AFP via Getty Images]

Libya’s Government of National Unity and the National Oil Corporation announced that they will build a new refinery in Sebha, Reuters reports.

The new refinery had already been planned in 1980 and will be operated by the National Oil Corporation’s (NOC) Zallaf Company.

“The financial sources for this project are already ready and technical specifications and designs are finished with NOC,” Abdel Hamid Al-Dabaiba, head of the National Unity Government, said.

The oil sector in Libya has been recovering in recent months, with local production reaching 1.3 million barrels per day, with authorities aiming to raise it to 1.5 million by the end of the year.

On 19 August, the NOC announced that the country’s oil revenues reached a record level of more than $2 billion in July, for the second month in a row.

READ: Locals block oil exports in Libya’s oil crescent

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