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.

 

Iraqi forces seize Kirkuk governor's office

New UN envoy in Rabat to restart talks on WSahara

Last days of Raqa battles ‘toughest fighting yet’

Mogadishu twin bomb death toll at 276

Lebanon promotes ‘back to public school’ drive

Divided Iraq tests limited US influence

Iraqi forces seize airport, oil field from Kurds

Saudi Arabia sets conditions to role in Syria reconstruction

In tougher approach, US offers multimillion-dollar reward for Hezbollah operatives

EU ministers join forces in support of Iran deal

Batteries, tape to thank for defeating jihadists in Raqa

Palestinian Authority top official visits Gaza

Israel strikes Syrian anti-aircraft battery in response to shots

Qatar starts to feel pinch from sanctions

Omani role has helped Iran but may not do much in crisis with US

Head of IS in Southeast Asia dead

Gazans hope Palestinian reconciliation ends their woes

US-backed forces announce ‘final phase’ of Raqa recapture

Suspicion of football corruption shows limits of Qatar’s ‘soft power’

Schools closed on first day of term in rebel-held Yemen

Iraqi forces in standoff with Kurds in oil-rich Kirkuk

Protests in southern Morocco over water shortages

Iran’s Zarif says Trump speech in violation of nuclear deal

In Egypt, illiteracy rates down but problem remains

ISIS regroups in Libya amid jihadist infighting

Egypt’s Nation’s Future Party seeks to build on youth vote

Qatar freezes assets of royal member over Gulf crisis

Morocco dismantles IS-linked terror cell

Syrian troops recapture city of Mayadeen from IS

Gulf countries voice support for Trump’s tough stance on Iran

Princess named to head Saudi sports federation

IS fighters surrender as defeat in Raqa nears

Former French culture minister picked to head UNESCO

Baghdad issues ultimatum to Kurds on Kirkuk

Trump tears into Iran, leaves nuclear deal hanging

Iranians respond with anger, mockery to Trump speech

Somalia's defense minister, army chief resign

EU says it must watch IS in North Africa 'very carefully'

NATO chief urges US, Turkey to 'find solutions' to row

Turkey deploys troops to Syria's rebel-held Idlib

Four jihadists killed in Mali

Hamas dilemma in Palestinian reconciliation

Baghdad launches Kirkuk operation amid bitter row with Kurds

Talks on Raqa civilian exit halted

Qatar, Egypt set for UNESCO standoff