First Published: 2012-11-28

 

Libyan team plans to visit France to study refinery project

 

Libya's sovereign wealth fund is to send team to France next week to examine prospects of investing in troubled Petroplus oil refinery.

 

Middle East Online

Derigia: Decision to purchase refinery not taken yet

TRIPOLI - Libya's sovereign wealth fund is to send a team to France next week to examine the prospects of investing in the troubled Petroplus oil refinery, the fund's president said on Wednesday.

"A team will travel next week to study the industrial data of the refinery and draw up a report, on the basis of which we will take a decision," Mohsen Derigia said.

The mission comes after the Libyan Investment Authority denied on Monday that it wanted to invest in the Petroplus refinery in northwestern France.

It said such reports were incorrect and that "the media did not take the trouble to verify them," adding that the LIA had not even carried out a feasibility project.

Derigia said the statement was a denial of reports that a decision had already been taken to purchase the refinery.

The LIA has sent a letter to ask for access to documentation "but without any commitment," he said. "If we find that it is a good investment opportunity, then we will buy."

French Industry Minister Arnaud Montebourg said on November 5 that he had received a letter from the LIA saying it would like to examine the possibility of investing in the refinery near Rouen, in France's Normandy region.

In October, a court ordered the Petit-Couronne refinery be liquidated, rejecting two takeover offers from Dubai-based NetOil and Alafandi Petroleum Group, which is based in Hong Kong. But it allowed the refinery to continue operating for two months.

The minister's comments sparked criticism in the Libyan media and on Facebook over the LIA's interest in a "bankrupt" refinery.

 

Heavy fighting shakes eastern Aleppo as army advances

Yemen prepares assault on Iran backed rebels near key strait

Palestinian Fatah conference ends with boost for Abbas

Nigeria and Morocco agree joint venture to link Africa to Europe

Blocked news website accuses Qatar government of censorship

China warns against obstruction of Iran nuclear deal

First buses take Aleppo residents back to ruined homes

Kurdish restrictions cause ‘unnecessary harm’ to Iraq Yazidis

Egypt court strikes down part of protest law

Syria army advances deeper into east Aleppo

US rules out military intervention in Libya

Saudi Arabia names new Labour Minister, reshuffles councils

Eight arrested in Morocco over alleged ties with IS

Syria regime seizes half of rebel parts of Aleppo

Europol warns of changing IS tactics

Palestinian contenders for Fatah posts set to declare

Protests erupt in Istanbul over ‘Aleppo massacre’

Aleppo family reunited after war kept them apart for months

Syria rebels put up fight for key Aleppo district

Obama unlikely to act on Israel-Palestine before leaving office

UN says torture 'widespread' after Turkey coup

International push aims to protect endangered heritage

Journalist's body found shot in Iraq’s Kurdish region

Iran urges Kenya to release two of its citizens

Morocco business diplomacy at heart of strategy to rejoin African Union

Turkish prosecutor calls for drop of Gaza ship charges against Israelis

Iran preparing ‘appropriate’ response to US sanctions renewal

Saudi government detects fresh hacking attempts

Qarawiyyin library holds written wonders

Putin getting admirers from US to Europe to Syria

Congress approves Iran sanctions extension

Staggering casualty toll in Mosul offensive

Pentagon says IS jihadists making 'last stand' in Sirte

Iraq faces post-IS problem in Shiite militias

Turkey detains business executive for alleged Gulen links

Putin says Russia not looking for enemies

Tunisia sentences protesters to 14 years in jail

Saudi increases jail term for rights activist to 11 years

Misery deepens for Mosul refugees with heavy rain

Turkish parliament to vote on bill expanding Erdogan’s power

UN envoy to Yemen, President meet in new peace bid

Syrian Grand Mufti rejects terrorism claims

Qatar blocks popular news website

Desperate civilians brave Aleppo front line

OPEC spares Iran oil production cuts