The Minister of Oil and Gas, Mohamed Aoun, discussed the possibilities of the Libya Africa Investment Portfolio’s (LAIP) contribution to investment in the oil and gas sector in Libya. During the meeting, Abu Funas reviewed the projects and activities of the internal and external portfolio, and the possibilities of their contribution to investment in the oil and gas sector in Libya. Establishing the Zuwara oil refinery, which had previously been planned, as several studies were conducted in this regard, and a plot of land west of the Mellitah complex was selected and fenced off to establish this refinery. These two projects were owned by LAIP and were transferred to the Internal Investment Fund by decision of the (Qaddafi era) General People’s Committee (cabinet) previously. Now it has been agreed between LAIP and the Internal Investment Fund to restore the projects that have been suspended since that date.

Source: Libya Today October 19, 2023 07:49 UTC