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Construction Begins for Southern Libya Refinery

10/4/2021

The Libya National Oil Company recently announced that the construction process for an upcoming refinery in Southern Libya had officially begun. This project has been on hold for many years until plans were revived in 2017.

This refinery will be built near the large El Sharara oil fields in the Oubari region of Libya, and is being anticipated to begin operations by 2024, according to Libya NOC chairman Mustafa Sanalla. Project costs are expected to be from $500-600 million. No capacity was announced at this time, but the significance of this refinery announcement is key for Libya, which has been besieged by geopolitical issues and instability for over a decade now. Libya hopes to capitalize on the significant oil reserves on hand as this project is designed to reduce the ongoing fuel shortages in the country.