Libya Vows to Review Ras Lanuf Contract After Protest, NOC Says

Libya pledged to review a management contract with an Emirati partner at the Ras Lanuf refining complex following a workers’ protest, according to the state-run National Oil Corp.

Demonstrators outside the Tripoli offices of the NOC called yesterday for the government to reject a 20-month extension to the existing agreement with Libyan Emirati Refining Co. and to hand management back to the Libyans, the company said on its website. The workers also demanded that proposed upgrades at the refinery be speeded up, the NOC said.

Libya “will do its utmost to meet their demands and review all previous agreements in a way that suits the interests of Libya and its people,” the NOC quoted Oil Minister Abdulbari Al-Arusi as saying.

Libyan Emirati Refining Co., or Lerco, is a joint venture between Trasta Energy of the United Arab Emirates and Libya’s NOC. Each holds a 50 percent stake. Ras Lanuf can process 220,000 barrels a day.

Before it's here, it's on the Bloomberg Terminal.