Economics and Business

The NOC purchases Trasta’s share in LERCO

Libyan Cloud News Agency – Tripoli

The National Oil Corporation (NOC) has purchased Trasta Energy Limited’s 50% share in the Libyan Emirates Oil Refining Company (LERCO), the joint venture company formed to operate Ras Lanuf Refinery.

The NOC said in a statement that Trasta had sought to block NOC’s purchase through the International Chamber of Commerce proceedings, which rejected Trasta’s position and upholding NOC’s right to purchase its share.

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