Petroleum Africa
Find us on: 
Tuesday, January 5, 2021
The National Oil Corporation (NOC) of Libya, announced that on December 31, it acquired the 50% participation of Yara, the Norwegian company, in the fertilizer company the pair have jointly held.
Pursuant to this acquisition, the ownership of the ammonia and urea plants has been returned in full to the Libyan state with 75% to the National Oil Corporation and 25% to the Libyan Investment Authority.
“Yara played a prominent cooperative role in this deal in an amicable way which guarantees the continuation of good relations between the parties. This acquisition will enable the Libyan party to restart the plants and conduct maintenance and works necessary to ensure they are well looked after and to ensure the continuation of payment of employees’ salaries,” a statement by NOC read.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
