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- Libya said the work has begun on the construction of an oil refinery in the south of the conflict-ridden desert country
- The project will cost between US$500 million and US$600 million. It is expected to become operational within three years
- This was stated by head of Libya’s state oil company Mustafa Sanalla
- The company expects an annual income of US $75 million.
Libya said the work has begun on the construction of an oil refinery in the south of the conflict-ridden desert country. The project will cost between US$500 million and US$600 million. It is expected to become operational within three years. This was stated by the head of Libya’s state oil company Mustafa Sanalla. The company expects an annual income of US $75 million.
The refinery will be built near Al-Charara, a major oil field in the Oubari region. This oil field produces an average of some 300,000 barrels of oil a day. The start of the refinery was announced in the early 1980s. However, it was put on hold for one reason or the other. It was revived in 2017.
Libya has the most abundant oil reserves in Africa. It has been trying to emerge from a decade of chaos since the fall of Moamer Kadhafi’s government in 2011.
