Libya: Prime Minister formalized the construction of an oil refinery in the south, near the Al Sharara field, the country's largest production area

Libyan Prime Minister Abdelhamid Dbeibah formalized on October 3, 2021, the construction of an oil refinery in the south, near the Al Sharara field, the country’s largest production area, with an average of 300,000 b / j.

This oil refinery will join four others in the country, once construction is completed, over the next three years. The establishment of the complex had been announced since the early 1980s, but the emergence of certain technical problems affected the course of activities. As a result, the work was suspended.

The new refinery will cost between 500 and 600 million dollars and according to the explanations of the head of the Libyan National Petroleum Company (NOC), Mustafa Sanalla, it will produce 1.3 million liters of gasoline daily, more than one million liters of diesel and 600,000 liters of kerosene. Ultimately, it will bring in $ 75 million annually to the Libyan state.

The Libyan authorities have also announced the construction of a gas cylinder production plant in the same region. An initiative that will facilitate efforts to improve the population’s access to domestic gas.

Recall that with a production capacity of 1.2 million barrels per day, Libya has the largest proven oil reserves in Africa. However, the country remains deeply divided politically, which raises questions about the security of investments in oil projects.